Americans are spending increasingly lavishly on their pets.
In 2017, the average US household spent an estimated $710 on their pets, according to recently released data from a US government survey. About $280 of that spending was on veterinary services, $240 on pet food, and the remaining balance on other supplies and services.
Demographer Cheryl Russel points out that pets have surpassed cable and satellite TV as the largest entertainment expense for American families. Combine cord-cutting with an increase in the number of older people with pets, and this is what you get.
The data is based on a survey of around 7,000 US households so the estimates are not exact. They are likely accurate to within $50.