Study: Americans more likely to buy gifts for pets than in-laws this holiday season

A new study says 34% of Americans will be purchasing a gift for their dog this year, as opposed to 19% who will be purchasing a gift for their in-laws. 

Roughly 22% of cats will be receiving gifts.

Americans' shopping budget is down $200 this year, the study says, and 47% of those who responded said they would be cutting back on eating out and other non-essential purchases.