If your pet is your Valentine, don't be ashamed - you're not alone!
In the National Retail Federation's Valentine's Day spending survey, administered by Prosper's Insights and Analytics, pet parents are projected to spend a whopping $703 million on presents for their pets this year, reported UPI.
A lot of people are - understandably - getting in on this trend, as pets are the best valentines and companions. They don't care if you wear sweats, don't require a big romantic gift, and they won't judge you if you feel like going to bed at 9 p.m. on a Saturday night.
This was apparently the philosophy of the one in five survey responders that said they planned to spend an average $5.28 each on their pets when they were questioned from Jan. 6-13. There were 6,375 responders to the survey.
"It's great to see consumers coming out of their shell this year, looking to spend discretionary budgets on those they love once again, though I fully expect many to continue to look for ways to cut costs where they can," Pam Goodfellow, Prosper's principal analyst, said in a Nationa Retail Federation issued press release. "While many will splurge, some will still look for simple and affordable ways to show their appreciation for friends and family and celebrate in a way they are most comfortable with."
In total - including pet and human gifts - the average person will spend $142.31 on Valentine's Day gifts this year, which is up from the $133.91 projected last year.
