Pet owners aren’t holding back on the holiday cheer when it comes to their furry friends! SunTrust teamed up with Atlanta-based social media icons, That Dood Squad, to take a closer look at how pet lovers are prioritizing their gift list this year.
Half of Americans are planning to drop money on their pets this holiday season, spending an average of $137 on their four-legged family members.
The most common gifts are new treats (65 percent) and toys (61 percent), followed by festive holiday clothes (19 percent).
In the timeless debate of cats versus dogs, dogs win this round. Dog owners are much more likely to give their pet a present (59 percent) than cat owners (34 percent).
“As a dog mom, I look forward to diving into the holiday hustle and bustle with my pup without breaking the bank,” said Kim McNamara, one of That Dood Squad’s owners. “This holiday season, give your pets the gift they cherish the most – quality moments with you.”
“For many people, pets are members of the family, so it’s expected that we would want to include them in the holiday fun,” said Brian Nelson Ford, financial well-being executive at SunTrust. “Our studies show that the holiday season often comes with pressure to overspend. Gifts for pets, friends, neighbors and other obligations can add to the pressure when the spending is unplanned. It’s important to be upfront about what we care about, and build our holiday spending plan to enjoy the memory-making moments of the holidays.”