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Business trends

China's pet market booms despite slower spending

Young consumers forgo nonessentials to spend on what really makes them happy

The Chinese market for pets and pet-related goods has more than tripled over the past five years.   © Reuters

SHANGHAI -- China's overall retail sector may be in the doldrums, but pet stores are enjoying a boom as consumers look to spend on what really makes them happy.

The country's market for pets and pet-related goods has more than tripled over the past five years. Department stores and supermarkets, on the other hand, are seeing growth slow.

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