The Westminster Dog Show and the pet economy
Golden Retrievers in the judging ring during the 136th Westminster Kennel Club Annual Dog Show held at Madison Square Garden February 14, 2012.
So it's Valentine's Day, of course, but it is also a day for many people to celebrate the other love in their life -- their dog -- thanks to the Westminster Dog Show.
Our sister show, the personal finance radio program Marketplace Money, is at the dog show this week, looking at the personal finance of pets. So we thought we explore some of the fun consumer behavior that the dog show reveals.
Today in our Mid-Day Extra, we ask how much the Westminster Dog Show impacts the pet economy as a whole, and why.
Here to talk with us is author and psychotherapist Stephanie Sarkis. She says that contrary to traditional consumer psychology, studies have shown that the winning breed at the show doesn't necessarily become more popular at pet stores. But the show does help encourage the booming industry as a whole.