Fun Fact: U.S. consumers spend over $1 billion annually on Valentine’s Day gifts for pets. In 2020, 27% of people said they were planning on buying Valentine’s Day gifts for their pets.
It makes sense that you’d want to give a gift to the creature that loves you unconditionally on a holiday meant to celebrate love. But since animals don’t know it’s a holiday, it’s still pretty interesting that 27% of Valentine’s shoppers choose to pick up a gift for their furry (or feathered or scaly) friends. This represented a 10% increase over the last decade.
Why do we buy Valentine’s Day gifts for pets?
“Much of the growth in Valentine’s Day spending over the last decade has been fueled by consumers’ interest in celebrating the other important relationships in their lives — friends, co-workers and, increasingly, pets” This is according to the National Retail Federation (NRF), a nonprofit based in Washington, D.C. that conducts these surveys with and Prosper Insights & Analytics.
According to FOX13 news in early 2022:
In 2020, $103.6 billion was spent on our pets in the U.S., according to National Pet Owners Survey Statistics — and 70 percent of U.S. households own a pet.”
That’s due in part to the COVID pandemic.
“One in five households acquired a cat or dog at the start of the COVID-19 pandemic, the American Society for the Prevention of Cruelty to Animals (ASPCA) said in a survey published last year, on May 21, 2021.”
The Valentine’s Day gift survey
The NRF conducted the survey of 7,728 U.S. adult consumers from January 3-11, 2022, and also found that spending for the holiday increased overall, with people in the U.S. expected to spend $23.9 billion in 2022 (up from $21.8 billion in 2021).
“Shoppers expect to spend an average of $175.41 per person (per human, that is) on Valentine’s Day gifts, which is up from $164.76 in 2021,” the NRF said.
When it comes to human gifts, people are sticking to tradition. “Candy (56 percent), greeting cards (40 percent), and flowers (37 percent) remain the most popular gift items…“