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Putting a Price on Our Love for Our Pets: $5.28

Survey finds that's what pet owners plan to spend this Valentine's Day
By Elizabeth Armstrong Moore,  Newser Staff
Posted Jan 28, 2015 10:06 AM CST
Putting a Price on Our Love for Our Pets: $5.28
Would you buy a Valentine's gift for this pup?   (AP Photo/Pat Sullivan)

(Newser) – Showering our pets with affection no longer cuts it. A new National Retail Federation survey finds that a "record" 21.2% of Americans plan to buy their pet a Valentine's Day gift. The individual estimated spend isn't huge at an average of $5.28. But all told, that means we'll be dropping an estimated $703 million to show our furry friends that Cupid's arrow hath struck. If that figure sounds ridiculous, it actually amounts to a mere fraction of the whole: The survey finds that total V-Day spending could hit $18.9 billion this year.

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Americans plan to spend $142.31 on average this holiday, which is up roughly $8 from last year. According to the survey of 6,375 consumers, which has a margin of error of 1.3 percentage points, roughly half of consumers plan to buy candy (total spend here: $1.7 billion), and about a third flowers, in a year where total projected spending is higher than it's been since 2007, reports Reuters. The biggest chunk of change will be spent on jewelry: One in five say they'll buy something shiny for their love, with the total spend estimated at $4.8 billion. As far as the gender breakdown goes, men plan to spend an average of $190.53 to women's $96.58. (Oreo is out with a Valentine's Day offering.)

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