Nebula Caravel Acquisition : Rover Releases True Cost of Pet Parenthood Report for 2022

Seattle, WA - March 22, 2022- Rover.com(Nasdaq: ROVR), the world's largest online marketplace for loving pet care, today released itsTrue Cost of Pet Parenthood report. This year's report reveals that total annual cost ranges widely, from $480 to $3,470 per dog, depending on a variety of factors including location, lifestyle, and unique pet needs. Inflationary prices and financial impacts of the pandemic have affected how much Americans are spending on their pets, but a significant number are still rearranging financial priorities in favor of their dogs. In fact, nearly one quarter of Generation Z and Millennial pet parents have delayed having a child, or decided not to, and brought home a dog instead because of the lower total cost.

"Like most consumer goods and services across the globe, the cost of many pet products has increased in the past year," said Kate Jaffe, Trend Expert at Rover. "Despite these rising costs, Americans are still splurging like never before for their beloved pets, opting for fresh and nutritious food, environmentally-friendly pet products, and personalized pet care services - proving pets and their wellbeing aren't discretionary expenses, but rather part of the mandatory family budget."

TheTrue Cost of Pet Parenthood report includes unique data from over 1,000 dog owners across the U.S. who have experienced the realities of welcoming home a new furry family member. Key findings from the report include:

• Expectations vs Reality - For 39 percent of pet parents, the actual upfront costs of bringing home a dog were not in-line with expectations. In fact, 38 percent expected to spend less than $500, while Rover research found that, on average, upfront costs can range from $1,050 to $4,480.
• Inflation- Like most of us, 71 percent of dog parents claim they've noticed increasing pet-related costs due to inflation. Another 73 percent indicated they're concerned about how much costs will continue to rise over their pet's lifetime.
• More Pets If Not for Cost Barrier- 36 percent of pet parents claim the cost of a pet deterred them from getting one in the first place, or has deterred them from getting an additional pet, with Millennials (40%) and Gen Z (43%) the most likely to be impacted.
• New Challenges- Pandemic-related costs are also a factor for more than half (52%) of pet parents, with 30 percent taking on new or additional pet care services like dog walking and grooming. Products and services aimed at tackling pet anxiety are in higher demand, with 60 percent of pet parents having purchased soothing and enrichment toys, calming treats, and separation anxiety training/services for their dogs. Rover found that city-dwelling dogs are especially anxious, with the majority (74%) of urban pet parents seeking anxiety solutions.
• Some Choosing Pets Over Kids- With rising costs of most goods and services, 1 in 10 pet parents are choosing to bring home a dog versus having a child due to the lower total cost. This is most true for Gen Z (23%) and Millennials (22%).
• Increased Willingness to Splurge on Pets - In tandem with new and rising cost factors, pet parent priorities and purchasing behaviors indicate 1) a shift toward products and services that better align with personal values and 2) prioritizing pet care. Despite the added costs, 54 percent of dog parents prioritize nutritious and fresh-ingredient dog food, and another 28 percent favor "green" and eco-friendly pet products. Additionally, 21 percent of pet parents are now willing to invest more in smart pet tech devices than they were five years ago.

The report also reveals that a dog's breed and size may impact how much pet parents spend each month on essential items like food and grooming. Rover analyzed 10 popular dog breeds and found that dogs of mixed breed, Chihuahuas, Dachshunds, Beagles, and Labrador Retrievers are most likely to cost less than $100 per month. Golden Retrievers were found to be the most expensive, with monthly costs totaling 50% more than their canine counterparts.

"Breed factors into the cost of a dog on a number of levels," said Dr. Rebecca Greenstein, Veterinary Medical Expert on Rover's Dog People Panel. "At its very simplest, size is a huge governing factor, considering medicines and daily food quantities are generally based on body weight. Beyond that, some breeds are more prone to health issues, some have higher activity levels that can lead to a greater probability of injury and certain breeds are even more likely to be mischievous and ingest foreign material. There isn't a single breed out there that can't make for the perfect canine family member, but it's vitally important that pet lovers do their research and consider all the variables before bringing their forever friend home."

For the full report on the True Cost of Pet Parenthood in 2022 and expert insights from Rover's Dog People Panel, please visithere. For cat lovers, you can find more information on the cost of cat parenthoodhere.

The True Cost of Pet Parenthood in 2022 report was developed by Rover in March 2022. Results are based on a Rover.com survey of over 1,000 U.S. based dog owners on the Rover platform. Additional sources include: Animal Humane Society, Dr. Rebecca Greenstein, Chewy, Petco, Nicole Ellis and Apartments.com.

About Rover
Founded in 2011 and based in Seattle, Rover® is the world's largest online marketplace for loving pet care. Rover connects dog and cat owners with pet care whenever they need it. Millions of services have been booked on Rover, including pet sitting, dog walking, in-home boarding, drop-in visits and doggy day care.

Rover makes it easier for people to have pet love in their lives through the Rover Guarantee, 24/7 support, vet consultations, and GPS walk mapping. The Rover blog, a trusted resource for millions of dog and cat parents worldwide, provides tips and articles that delight, inform, and enhance the bonds between people and their pets. To learn more about Rover, please visithttp://www.rover.com.

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Contact:
Kristin Sandberg
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