Americans are spending more and more money on their pets every year. In 2013, a whopping $60 billion was spent on our furry family members. The holidays are upon us and Halloween is only a week away. The National Retail Federation forecasts that Americans will spend $350 million on pet costumes this year, a 40% increase since 2010.
And this trend is not just about tying a skull-patterned bandana around your dog’s neck, but actually dressing them up in real costumes. I was really intrigued by these statistics and used the Indix product intelligence app to peek into the pet Halloween ecosystem. Sure enough, there are over 3,500 products to choose from out there!
When it comes to dogs, the pumpkin and skull-patterned collars, harnesses, and bandanas are only a part of the assortment. There are also over a 1000 elaborate costumes, ranging from less than $10 to over a $100, with the average price being around $16. As of today, there are 38 online stores that stock these cute and quirky costumes.
Looking at a chart depicting the average price decreases over the past month shows the volatility of the market. 37 price decreases were recorded on October 18 (approx. 2 weeks before the holiday) with an average overall price decrease of 14%. Since then, the number of price decreases have been on the decline. We will keep monitoring these numbers as we get closer to Halloween.
So, whether you want to dress up your pooch as Batman….
Or the royalty that he is…
There’s a costume out there that will meet your satisfaction. What your pet will think about it though… is anybody’s guess! Happy Halloween!