Dog wearing tiara
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January 27, 2015 1:58 PM EST

The candy and flowers industrial complex that is Valentine’s Day had gone to the dogs. Literally.

One in five Americans will take their pets into consideration on Feb. 14, according to a new study by the National Retail Federation, a trade association. Out of a total of $18.9 billion spent on the holiday, consumers will drop $703 million on their furrier companions, the group forecasts.

While the figure at first appears staggering, the retail group points out that consumers will just spend $5.28 on their pets on average.

But even though opting for heart-shaped Milkbones suffices, nothing says I love you like splurging for that diamond dog color Fluffy’s been eyeing.

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