Pet industry booming despite struggling economy
It’s no secret that people love their pets, but it might come as a surprise to hear that pet owners are spending more money on their furry, feathered and scaly friends than ever before.
Given the nationwide economic setbacks of the past few years, the growth in the pet services industry is nothing short of remarkable. According to the American Pet Products Association, in the U.S., people spent $28.5 billion in pet services in 2001, but that amount has almost doubled in 10 years, with consumers spending $51 billion in 2011. That number is expected to increase to $52.9 billion in 2012.
Such statistics don’t really shock Walter Cook, owner of the Smoky Mountain Dog Bakery, which has a storefront on Main Street in Waynesville and a thriving online wholesale business.
Specializing in homemade ...