Chewy Insights

How competitive is Chewy in the pets market?

Ahead of its IPO, we analyzed the credit and debit card records of millions of anonymous U.S. consumers to look at Chewy's Market Share, Customer Retention and Customer Lifetime Value Relative to Competitors.

Key Takeaways

  • Since Petsmart acquired Chewy in 2017, Chewy has consistently gained market share against its competitors.
  • Newer cohorts of Chewy customers exhibit higher retention than older ones.
  • Chewy’s customer lifetime value is multiples higher than its competitors.

How has Chewy's Market Share Shifted Over Time?

Since the PetSmart acquisition in mid-2017, Chewy has taken ~15% market share from its competitors; 10% from PetSmart (its acquirer) and ~5% from Petco.

How Sticky and Valuable are Chewy Customers?

Chewy’s newly acquired customers exhibit higher retention than earlier cohorts (top chart) and slightly higher cumulative spend than earlier cohorts (bottom chart).

Retention and Customer Lifetime Value of Chewy Annual Cohorts

How Much More do Chewy Customers Spend Over Their Lifetime?

Looking at the 1Q16 cohort of first-time shoppers at Chewy and each of its competitors, the average cumulative spend of a Chewy customer after three years of shopping at Chewy is more than its three competitors combined.

Cumulative Lifetime Spend per Customer, 1Q16

Past Analyses

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