The recession has hurt nearly every consumer sector - from luxury goods to restaurants - but it appears to be helping out certain areas of the pet-supply industry. People, it seems, will skimp on themselves before cutting back on Fido. According to the American Pet Product Manufacturers Association, we'll spend an estimated $45.4 billion on our pets this year - nearly double what we spent a decade ago. "If you go back a year before the economic crisis, yes, you see people buying more expensive items and spending more per pet, whether it be designer collars or timer-based feeding devices," says Bob Vetere, President of the APPMA. "Since the economic crisis, pets are doing fine - we're making decisions to cut back in other areas, like vacations, just to make sure Fluffy or Fido are being taken care of." Tyson Foods has noticed, recently taking a minority stake in food start-up Freshpet, which, as in the case of Nestle with Purina, will help it hedge bets against rising human food supply costs and fickle consumers. Experts say folks are also spending on pets because they need an escape from today's economy.

Originally published by DAMON BROWN.

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