The Pet Economy Roars Ahead

Americans now spend $41 billion a year on their pets — more than the gross domestic product of all but 64 countries in the world. What are the opportunities and threats growing out of this trend? We’ll doggedly pursue the answers.

Two of every three American households now include a pet, for a total of 71 million homes — an increase of 7 million in the past five years. While the number of pet owners is growing, the amount of money they spend is growing even faster: American consumers spend $41 billion per y.....