Chewy, Inc. (CHWY): Business Model Canvas

In der sich ständig weiterentwickelnden Landschaft des Heimtier-E-Commerce hat sich Chewy, Inc. zu einem digitalen Kraftpaket entwickelt und die Art und Weise verändert, wie Tierhalter für ihre pelzigen Begleiter einkaufen. Durch die nahtlose Verbindung modernster Technologie, kundenorientierter Strategien und einer umfangreichen Produktpalette hat Chewy traditionelle Einzelhandelsmodelle auf den Kopf gestellt und ein einzigartiges Wertversprechen geschaffen, das bei modernen Haustierhaltern Anklang findet. Dieser tiefe Einblick in Chewys Business Model Canvas enthüllt die komplizierten Mechanismen hinter ihrem phänomenalen Wachstum und Markterfolg und bietet Einblicke, wie eine digitale Plattform eine ganze Branche revolutionieren kann.

Chewy, Inc. (CHWY) – Geschäftsmodell: Wichtige Partnerschaften

Hersteller und Marken von Tiernahrung

Chewy unterhält ab 2023 Partnerschaften mit über 1.500 Tiernahrungs- und Produktmarken. Zu den wichtigsten Partnern gehören:

Marke	Einzelheiten zur Partnerschaft
Royal Canin	Exklusive Online-Vertriebsvereinbarungen
Purina	Umfassender Vertrieb der Produktpalette
Hill's Science-Diät	Direkte Lieferantenbeziehung

Veterinärdienstleister

Chewy arbeitet im Rahmen seines Chewy Pharmacy-Programms mit Veterinärnetzwerken zusammen und betreut landesweit rund 15.000 Tierkliniken.

• Netzwerkprogramm für Veterinärapotheken
• Verteilung verschreibungspflichtiger Medikamente
• Direkte Kommunikationsplattform für Veterinäre

Logistik- und Speditionsunternehmen

Zu den wichtigsten Versandpartnerschaften gehören:

Versandpartner	Jährliches Versandvolumen
UPS	60 % des gesamten Versandvolumens
FedEx	35 % des gesamten Versandvolumens
USPS	5 % des gesamten Versandvolumens

Technologie- und Softwareanbieter

Chewy investiert jährlich etwa 150 Millionen US-Dollar in Technologiepartnerschaften und Infrastruktur.

• Amazon Web Services (Cloud-Infrastruktur)
• Salesforce (CRM-Plattform)
• Oracle (Unternehmenssoftware)

Lieferanten von Haustierpflege- und Wellnessprodukten

Partnerschaften mit Wellness- und Accessoire-Marken mit insgesamt 2.300 einzigartigen Lieferanten im Jahr 2023.

Kategorie	Anzahl der Lieferanten
Nahrungsergänzungsmittel für Haustiere	450 Lieferanten
Haustierzubehör	850 Lieferanten
Wellnessprodukte für Haustiere	1.000 Lieferanten

Chewy, Inc. (CHWY) – Geschäftsmodell: Hauptaktivitäten

E-Commerce-Verkaufsplattform für Heimtierprodukte

Ab dem vierten Quartal 2023 betreibt Chewy eine digitale Plattform mit 20 Millionen aktiven Kunden. Das Unternehmen wickelte im Jahr 2022 insgesamt 574,8 Millionen Bestellungen ab, was einer Steigerung von 13,5 % gegenüber dem Vorjahr entspricht.

Plattformmetrik	Daten für 2023
Gesamtzahl der aktiven Kunden	20 Millionen
Gesamtbestellungen im Jahr 2022	574,8 Millionen
Jährliches Auftragswachstum	13.5%

Kundendienst und Support

Chewy unterhält ein 24/7-Kundendienstteam mit Reaktionszeiten von durchschnittlich 15–20 Sekunden. Das Unternehmen beschäftigt rund 3.500 Kundendienstmitarbeiter.

• Kundensupport rund um die Uhr verfügbar
• Durchschnittliche Reaktionszeit: 15–20 Sekunden
• Größe des Kundendienstteams: 3.500 Mitarbeiter

Produktkuration und -auswahl

Chewy bietet über 80.000 Heimtierprodukte in mehreren Kategorien an, wobei 70 % des Umsatzes durch wiederkehrende Autoship-Abonnements erzielt werden.

Produktauswahlmetrik	Daten für 2023
Gesamtproduktkatalog	Über 80.000 Produkte
Verkauf von Autoship-Abonnements	70%

Digitales Marketing und Kundenakquise

Im Jahr 2022 gab Chewy 448,1 Millionen US-Dollar für Marketingausgaben aus, was 13,6 % des gesamten Nettoumsatzes entspricht.

Automatisierte Auftragsabwicklung und Versand

Chewy betreibt 7 Logistikzentren in den Vereinigten Staaten mit einer Bestellgenauigkeit von 99,5 % und einer durchschnittlichen Versandzeit von 1–2 Werktagen.

Erfüllungsmetrik	Daten für 2023
Total Fulfillment Center	7
Bestellgenauigkeit	99.5%
Durchschnittliche Lieferzeit	1-2 Werktage

Chewy, Inc. (CHWY) – Geschäftsmodell: Schlüsselressourcen

Robuste E-Commerce-Technologieinfrastruktur

Ab dem vierten Quartal 2023 betreibt Chewy ein cloudbasierte Technologieplattform mit folgenden Spezifikationen:

Technologiemetrik	Spezifikation
Website-Traffic	50,4 Millionen einzelne monatliche Besucher
Mobile App-Downloads	4,5 Millionen aktive Benutzer
Website-Verfügbarkeit	99,99 % Zuverlässigkeit

Umfangreicher Produktbestand

Chewy verfügt über ein umfassendes Produktsortiment:

• Über 80.000 SKUs für Heimtierprodukte
• 70 % des Lagerbestands werden direkt von Herstellern bezogen
• Partnerschaften mit über 2.000 Heimtierproduktmarken

Kundendatenbank und Treueprogramm

Kundenmetrik	Datenpunkt
Gesamtzahl der aktiven Kunden	20,2 Millionen ab Q4 2023
Wiederholungskaufrate	68 % Kundenbindung
Autoship-Abonnenten	5,3 Millionen aktive Abonnenten

Digitale Marketingfunktionen

• Jährliche Ausgaben für digitales Marketing: 380 Millionen US-Dollar
• 5,7 Millionen Social-Media-Follower auf allen Plattformen
• Personalisierte Empfehlungsalgorithmen

Vertriebs- und Fulfillment-Zentren

Logistikmetrik	Spezifikation
Total Fulfillment Center	9 strategisch günstig gelegene Zentren
Tägliche Versandkapazität	350.000 Bestellungen pro Tag
Durchschnittliche Lieferzeit	1-2 Werktage

Chewy, Inc. (CHWY) – Geschäftsmodell: Wertversprechen

Große Auswahl an Haustierprodukten

Chewy bietet ab 2024 über 80.000 Heimtierprodukte von mehr als 200 Marken an. Zu den Produktkategorien gehören:

Kategorie	Ungefähre SKUs
Tiernahrung	35,000
Medikamente für Haustiere	12,500
Haustierzubehör	22,000
Spielzeug für Haustiere	10,500

Bequemes Online-Einkaufserlebnis

Kennzahlen zu digitalen Plattformen ab 2024:

• Website-Traffic: 55 Millionen monatliche Besucher
• Downloads mobiler Apps: 4,2 Millionen
• Durchschnittliche Website-Conversion-Rate: 3,7 %
• Durchschnittliche Zeit vor Ort: 6,2 Minuten

Wettbewerbsfähige Preise

Preisvergleichsdaten:

Produkttyp	Zäher Durchschnittspreis	Durchschnittspreis des Mitbewerbers	Sparprozentsatz
Hundefutter (30-Pfund-Beutel)	$52.99	$64.50	17.8%
Katzenstreu (20 Pfund)	$15.49	$19.99	22.5%

Autoship- und wiederkehrende Lieferoptionen

Statistiken zum Autoship-Programm:

• Gesamtzahl der Autoship-Kunden: 6,3 Millionen
• Prozentsatz des Umsatzes aus Autoship: 67 %
• Durchschnittlicher Autoship-Bestellwert: 84,50 $
• Kundenbindungsrate durch Autoship: 85 %

Persönlicher Kundenservice

Leistungskennzahlen für den Kundenservice:

Metrisch	Leistung 2024
Kundenzufriedenheitswert	4.8/5
Durchschnittliche Antwortzeit	12 Minuten
Support-Kanäle rund um die Uhr	Telefon, Chat, E-Mail
Vertreter des Kundensupports	2,100

Chewy, Inc. (CHWY) – Geschäftsmodell: Kundenbeziehungen

Kundensupport rund um die Uhr

Chewy bietet rund um die Uhr Kundenservice mit den folgenden Statistiken:

Support-Kanal	Durchschnittliche Reaktionszeit	Kundenzufriedenheitsrate
Telefonsupport	2,5 Minuten	92%
Online-Chat	1,8 Minuten	94%
E-Mail-Support	4,2 Stunden	88%

Online-Chat und Telefonunterstützung

Zu den Kundensupportkanälen von Chewy gehören:

• Live-Chat rund um die Uhr verfügbar
• Gebührenfreier Telefonsupport
• Mehrsprachige Kundendienstmitarbeiter

Personalisierte Produktempfehlungen

Personalisierungsmetriken:

Empfehlungsgenauigkeit	Kundenbindungsrate	Conversion-Rate
78%	65%	22%

Treueprogramm und Prämien

Einzelheiten zum Treueprogramm von Chewy:

• Autoship-Programm Anmeldung: 70 % der aktiven Kunden
• Durchschnittliche Ersparnis pro Kunde: 47 $ jährlich
• Wiederholungskaufrate: 63 %

Community-Engagement durch digitale Plattformen

Statistiken zum digitalen Engagement:

Social-Media-Follower	Teilnehmer des Community-Forums	Benutzergenerierter Inhalt
Instagram: 1,2 Millionen	45.000 aktive Mitglieder	Wöchentlich 12.500 Produktbewertungen

Chewy, Inc. (CHWY) – Geschäftsmodell: Kanäle

Unternehmenswebsite

Chewy.com fungiert als primärer Direktvertriebskanal und wickelt 100 % der Online-Transaktionen mit Heimtierprodukten für das Unternehmen ab. Im vierten Quartal 2023 betreute die Website etwa 20,7 Millionen aktive Kunden mit einer Wiederholungskaufrate von 64,3 %.

Website-Metrik	Daten für 2023
Monatliche Website-Besucher	48,3 Millionen
Durchschnittlicher Bestellwert	$93.47
Conversion-Rate	3.8%

Mobile Anwendung

Die mobile App von Chewy hatte im Dezember 2023 7,2 Millionen aktive monatliche Nutzer, was 34,8 % des gesamten digitalen Datenverkehrs entspricht.

• Verfügbarkeit der iOS- und Android-Plattform
• 4,7/5 durchschnittliche App-Store-Bewertung
• Unterstützt automatischen Versand, Auftragsverfolgung und Kundenservice

Social-Media-Plattformen

Chewy unterhält eine aktive Social-Media-Präsenz auf mehreren Plattformen mit einer Gesamt-Followerbasis von 2,9 Millionen.

Plattform	Anzahl der Follower
Instagram	1,4 Millionen
Facebook	1,1 Millionen
TikTok	400,000

E-Mail-Marketing

E-Mail-Marketing generiert 22,6 % des gesamten digitalen Umsatzes, mit 18,3 Millionen aktiven E-Mail-Abonnenten im Jahr 2023.

• Durchschnittliche E-Mail-Öffnungsrate: 24,7 %
• Klickrate: 3,9 %
• Personalisierte Produktempfehlungs-E-Mails

Digitale Werbung

Chewy gab im Jahr 2023 287,4 Millionen US-Dollar für digitale Werbung aus, was 8,6 % des Gesamtumsatzes entspricht.

Digitaler Werbekanal	Prozentsatz der Ausgaben
Google-Anzeigen	42.3%
Social-Media-Anzeigen	33.7%
Programmatische Anzeige	24%

Chewy, Inc. (CHWY) – Geschäftsmodell: Kundensegmente

Haustierbesitzer

Im vierten Quartal 2023 bedient Chewy rund 20,8 Millionen aktive Kunden. Der gesamte Tierhaltermarkt in den Vereinigten Staaten macht 70 % der Haushalte aus, was etwa 90,5 Millionen Haushalten entspricht.

Kundenkategorie	Gesamtzahl	Prozentsatz des Marktes
Gesamtzahl der Haustierbesitzer in den USA	90,5 Millionen	70%
Zähe, aktive Kunden	20,8 Millionen	23%

Hunde- und Katzenbesitzer

Zu den Hauptschwerpunktsegmenten von Chewy gehören:

• Hundebesitzer: 69 Millionen Haushalte
• Katzenbesitzer: 45,3 Millionen Haushalte

Haustiertyp	Anzahl der Haushalte	Durchschnittliche jährliche Ausgaben
Hundebesitzer	69 Millionen	1.380 $ pro Jahr
Katzenbesitzer	45,3 Millionen	908 $ pro Jahr

Millennials und Gen Z-Haustiereltern

Wichtige demografische Erkenntnisse für die Zielsegmente von Chewy:

• Millennials: 72 % besitzen Haustiere
• Gen Z: 52 % besitzen Haustiere
• Kombinierte Kaufkraft: 350 Milliarden US-Dollar pro Jahr

Online-Shopping-Enthusiasten

Statistiken zum E-Commerce-Markt für Heimtierprodukte:

• Online-Umsatz mit Heimtierprodukten: 29,4 Milliarden US-Dollar im Jahr 2023
• Prognostizierte Wachstumsrate: 15,3 % jährlich
• Marktanteil von Chewy: 43 % des Online-Umsatzes von Heimtierprodukten

Stammkunden und abonnementbasierte Kunden

Leistung des Abonnementmodells:

Metrisch	Wert
Wiederholungskundenpreis	67%
Autoship-Abonnenten	7,2 Millionen
Durchschnittlicher Abonnementwert	62 $ pro Bestellung

Chewy, Inc. (CHWY) – Geschäftsmodell: Kostenstruktur

Bestandsbeschaffung

Im Geschäftsjahr 2022 meldete Chewy Gesamtkosten der verkauften Waren (COGS) von 8,19 Milliarden US-Dollar. Das Unternehmen verfolgt einen strategischen Ansatz zur Bestandsverwaltung mit folgenden Schlüsselkennzahlen:

Bestandsmetrik	Wert
Jährliche Lagerinvestition	2,3 Milliarden US-Dollar
Lagerumschlagsquote	10,2x
Tage ausstehender Lagerbestand	36 Tage

Technologie- und Plattformwartung

Chewy stellt erhebliche Ressourcen für die Technologieinfrastruktur bereit:

• Technologie- und Entwicklungskosten im Jahr 2022: 362 Millionen US-Dollar
• Investitionen in die Technologieinfrastruktur: 4,4 % des Gesamtumsatzes
• Kosten für Cloud Computing und Hosting: 78 Millionen US-Dollar pro Jahr

Marketing und Kundenakquise

Aufschlüsselung der Marketingausgaben für 2022:

Kategorie der Marketingausgaben	Betrag
Gesamte Marketingausgaben	571 Millionen US-Dollar
Digitale Werbung	342 Millionen Dollar
Kundenakquisekosten (CAC)	45 $ pro Neukunde

Erfüllungs- und Versandkosten

Details zur Abwicklungskostenstruktur:

• Gesamter Erfüllungsaufwand im Jahr 2022: 687 Millionen US-Dollar
• Versandkosten: 512 Millionen US-Dollar
• Versandkosten pro Bestellung: 7,85 $
• Lager- und Logistiknetzwerk: 9 Vertriebszentren

Kundendienstbetrieb

Kostenzuordnung für den Kundenservice:

Kundendienstmetrik	Wert
Gesamtkosten für den Kundendienst	276 Millionen Dollar
Anzahl der Kundendienstmitarbeiter	3,200
Durchschnittliche Kosten pro Kundendienstinteraktion	$12.50

Chewy, Inc. (CHWY) – Geschäftsmodell: Einnahmequellen

Direkter Produktverkauf

Chewy erzielte im Geschäftsjahr 2022 einen Nettoumsatz von 9,95 Milliarden US-Dollar. Tiernahrung und -bedarf machten etwa 90 % des Gesamtumsatzes aus.

Produktkategorie	Umsatzprozentsatz
Tiernahrung	65%
Heimtierbedarf	25%
Andere Haustierprodukte	10%

Abonnement und wiederkehrende Bestellungen

Wiederkehrende Bestellungen machten im dritten Quartal 2022 70,3 % des Nettoumsatzes von Chewy aus. Der durchschnittliche Kunde gibt etwa 5,6 Bestellungen pro Jahr auf.

• Abonnement-Bestellwert: Durchschnittlich 75–100 $ pro Bestellung
• Kundenbindungsrate: 73 % ab 2022

Autoship-Programm

Das Autoship-Programm generierte im Jahr 2022 wiederkehrende Einnahmen in Höhe von 7,02 Milliarden US-Dollar. Kunden erhalten einen Rabatt von 5–10 % auf Autoship-Bestellungen.

Autoship-Metriken	Wert
Gesamterlös aus Autoships	7,02 Milliarden US-Dollar
Autoship-Rabatt	5-10%
Autoship-Penetrationsrate	65%

Premium-Haustierpflegedienste

Der Telegesundheitsdienst „Connect with a Vet“ von Chewy's generierte im Jahr 2022 zusätzliche Einnahmen in Höhe von etwa 120 Millionen US-Dollar.

• Gebühr für Telemedizin-Beratung: 49,99 $ pro Sitzung
• Umsatz mit Apothekendienstleistungen: 85 Millionen US-Dollar

Provision aus Produktverkäufen Dritter

Der Verkauf über Drittanbieter-Marktplätze generierte im Jahr 2022 Provisionseinnahmen in Höhe von 180 Millionen US-Dollar.

Vertriebskanal von Drittanbietern	Provisionseinnahmen
Marktplatzverkäufe	180 Millionen Dollar
Provisionssatz	10-15%

Chewy, Inc. (CHWY) - Canvas Business Model: Value Propositions

Ultimate convenience through the Autoship recurring delivery model.

The Autoship program is the bedrock of Chewy, Inc.'s revenue predictability. As of the second quarter of fiscal year 2025, this recurring delivery service accounted for 83% of total net sales. This high penetration rate, up from 66% at the time of its Initial Public Offering, shows deep customer habit formation. The growth in this segment consistently outpaces the overall top line; for instance, Autoship customer sales grew by 15% year-over-year in Q2 2025, while total net sales grew by 8.6% in the same period. This model directly translates to higher customer value, with Net Sales Per Active Customer (NSPAC) reaching $591 in Q2 2025.

Autoship Metric	Q1 Fiscal 2025 Value	Q2 Fiscal 2025 Value
Autoship Penetration of Net Sales	82.2%	83%
Autoship Sales Amount	Approximately $2.56 billion	$2.58 billion
Autoship Sales YoY Growth	+14.8%	+15%
Active Customers	20.8 million	20.9 million

Broad selection of approximately 130,000 products and services.

Chewy, Inc. offers a vast assortment to capture the entire pet parent wallet. The company partners with approximately 3,200 of the most trusted brands in the pet industry, in addition to its own private brands. Through its digital platforms, Chewy, Inc. makes available approximately 130,000 products and services offerings. This breadth supports market share gains, with management implying the company is capturing more than 50 cents of every dollar shifting to online pet retail channels in fiscal 2025.

Exceptional, high-touch, 24/7 customer service.

Customer experience is a key differentiator, consistently outperforming competitors. In the American Customer Satisfaction Index released in January 2025, Chewy, Inc. maintained the highest overall customer satisfaction score among online retailers with a score of 85 on a 100-point scale. This score was up 1% from the previous study, marking the third consecutive year holding the top spot. The company's mission centers on being the most trusted destination, which is supported by this high service level.

Integrated pet health services (Pharmacy, Vet Care, Connect).

The move into health services is designed to capture higher-margin, recurring revenue streams. Chewy, Inc. holds an estimated 7% market share in the U.S. pet pharmacy segment. By February 2, 2025, the company had expanded its Chewy Vet Care clinics to 11 locations, with plans to open an additional 8 to 10 clinics within the fiscal year. Furthermore, approximately 17,000 veterinary practices were enrolled in the PracticeHub platform as of February 2, 2025, representing an estimated 50% of all U.S. vet clinics. The planned acquisition of SmartEquine (formerly SmartPak) was expected to be adjusted EBITDA margin accretive upon closing in Q4 FY2025.

Competitive pricing and promotional offers for pet essentials.

The value proposition is reinforced by competitive pricing and loyalty programs that drive spend per customer. The company offers its selection at competitive prices. The Chewy+ paid membership program is a key promotional lever, exceeding initial expectations and projected to contribute a mid-single-digit percentage of monthly sales by the end of fiscal 2025. From a valuation perspective, as of July 2025, Chewy, Inc. traded at a forward price-to-sales ratio of 1.38X, which was below the industry average of 2.02X.

• Net sales per active customer (NSPAC) grew from $578 in Fiscal Year 2024 to $591 in Q2 Fiscal 2025.
• The company guided for full-year fiscal 2025 net sales between $12.5 billion and $12.6 billion.
• The company executed share repurchases totaling approximately $942.85 million in fiscal 2025.

Chewy, Inc. (CHWY) - Canvas Business Model: Customer Relationships

You're looking at how Chewy, Inc. keeps its pet-parent customers coming back; it's all about making the recurring purchase effortless and the occasional interaction memorable.

Automated, personalized service via the Autoship subscription.

The Autoship program is the backbone of Chewy, Inc.'s customer relationship strategy, driving predictable, high-retention revenue. As of the second quarter of fiscal 2025, Autoship orders accounted for a massive 83% of net sales. That recurring revenue stream saw its own sales increase by nearly 15% year-over-year in Q2 2025, outpacing overall top-line growth. This shows you the depth of customer habit formation. This reliance on subscription fulfillment has grown significantly; Autoship represented 66% of net sales at the time of the Initial Public Offering, so the penetration has climbed over 16 percentage points since then.

Here's a look at the core customer metrics driving this relationship:

Metric	Q1 Fiscal 2025 Value	Q2 Fiscal 2025 Value
Active Customers	20.756 million to 20.8 million	20.9 million to 21 million
Autoship Share of Net Sales	82.2%	83%
Net Sales Per Active Customer (NSPAC)	$583 (a 3.7% increase YoY)	$591 (compared to $565 a year ago)

The growth in NSPAC, reaching $591 in Q2 2025, confirms that these loyal customers are spending more with Chewy, Inc. over the year.

High-touch, empathetic customer support (e.g., hand-written cards).

While the numbers above speak to automation, the qualitative service is what keeps the brand top-of-mind. Chewy, Inc. defied the industry trend where global customer experience quality dropped to an all-time low in 2025, according to Forrester's Global Customer Experience Index, which surveyed 275,000 consumers. Chewy, Inc. maintained its status among the 10 "elite" CX brands. Furthermore, the company has held the top spot for customer satisfaction among online retailers for the past three years. This suggests that the high-touch elements, like personalized outreach, are working to make visitors feel valued.

Digital self-service through the mobile app and website.

The digital experience is crucial for driving adoption of the core subscription service. The company has continuously rolled out enhancements to its on-site and in-app experiences to ensure a convenient shopping journey. Chewy+ members, for example, make greater use of the company's app compared to non-members. The active customer base has been expanding sequentially, adding 150,000 more active customers between Q1 and Q2 of fiscal 2025, moving from 20.756 million to 20.9 million.

Loyalty and membership programs like Chewy+ (exceeding expectations).

The paid Chewy+ membership program is designed to deepen this relationship further. After moving out of its beta phase, the program rapidly strengthened. In July 2025, Chewy+ accounted for 3% of total monthly sales. Management expects this to grow to an approximately mid-single-digit percentage of net sales by the end of fiscal 2025. You see a compelling flywheel effect here, as Chewy+ members are using the Autoship program at higher rates than non-members.

• Chewy+ members buy at a greater frequency.
• Chewy+ members include more items in each order.
• The marginal acquisition cost for new Chewy+ members is near zero, as most conversions come from existing shoppers.

Finance: finalize the Q3 2025 customer acquisition cost breakdown by next Tuesday.

Chewy, Inc. (CHWY) - Canvas Business Model: Channels

You're mapping out Chewy, Inc.'s distribution strategy as of late 2025, focusing on how they get their value proposition to the pet parent. The channels are a mix of established digital dominance and targeted physical expansion.

Chewy.com E-commerce Website remains the core engine. This is where the vast majority of the business happens, driven heavily by recurring revenue programs.

• Fiscal Q2 2025 Net Sales reached $3.10 billion.
• Fiscal Q1 2025 Net Sales were $3.12 billion.
• Full Fiscal Year 2025 Net Sales guidance is set between $12.5 billion and $12.6 billion.
• The active customer base grew to nearly 21 million customers as of Q2 2025.
• Net Sales Per Active Customer (NSPAC) hit $591 in Q2 2025.

The Autoship program is critical to this channel, acting as a primary retention and revenue driver.

Metric	Q2 2025 Data	Q1 2025 Data
Autoship Sales Growth (YoY)	Increased 15%.	Increased 14.8%.
Share of Total Net Sales	Represented 83% of total net sales.	Accounted for 82.2% of net sales.

Mobile Applications for iOS and Android support the primary channel by boosting engagement and order frequency. While specific 2025 active user counts aren't explicitly stated, recent performance shows the channel's effectiveness.

• Unique customers ordering via the app saw an approximate 13% year-over-year increase in Q2 2024.
• Overall mobile app orders increased approximately 15% year-over-year in Q2 2024.
• The updated mobile app experience contributed to a mid-teens boost in average monthly app users compared to Q3 2023.

Chewy Vet Care Physical Clinics represent a newer, integrated physical channel designed to deepen customer relationships and drive cross-channel sales.

Chewy, Inc. is executing on its physical expansion plan for the fiscal year ending January 2026.

• The target for new clinic openings in Fiscal Year 2025 is 8 to 10 new locations.
• As of early 2025, the company operated 8 veterinary clinics.
• By August 2025, Chewy had rights to control 12 locations where operations had not yet commenced.
• Over half of new customers visiting the clinics subsequently bought goods from Chewy.com within 30 days.
• Projected annual revenue per clinic at maturity is approximately $2.4 million.
• Projected EBITDA per clinic at maturity is approximately $500,000.

Direct-to-Consumer Fulfillment Network and Third-Party Carriers handle the physical movement of goods, with a heavy focus on automation to manage costs and speed.

The company's logistics backbone relies on its network of fulfillment centers.

• As of late 2024/early 2025, Chewy operated six automated fulfillment centers.
• Currently, less than half of distribution center volumes move through automated processes.
• The goal is to increase automated fulfillment to over 70% of volumes.
• Average shipping distances have been slashed by 25% compared to the same period in 2021.

Finance: draft 13-week cash view by Friday.

Chewy, Inc. (CHWY) - Canvas Business Model: Customer Segments

You're analyzing the core customer base for Chewy, Inc. as of late 2025. This segment is the engine for their recurring revenue model, built on high-value, engaged pet parents.

Dedicated pet parents seeking convenience and recurring purchases form the foundation. These customers prioritize ease of use for essential, regularly consumed items like food and litter. This preference is heavily captured by the Autoship program, which is central to Chewy, Inc.'s stability.

The commitment of this base is evident in the latest figures:

• Active customers reached nearly 21 million as of the second quarter of fiscal year 2025.
• Net sales per active customer (NSPAC) hit $591 in Q2 2025.
• Chewy, Inc. commands an estimated 41% share of the customer base for online pet supplies.

Pet owners with chronic pet health needs (prescription customers) represent a key area for higher-margin, stickier revenue. While specific 2025 numbers for this segment are less detailed publicly, the focus on pharmacy expansion is a strategic driver for increasing customer lifetime value.

The company is actively working to grow this area, building on prior data that showed medications for chronic conditions made up about 70% of the medications Chewy, Inc. sold.

The high-value, loyal Autoship customers are the most critical group, driving the predictability of the entire business. This segment is the primary focus for revenue stability.

Here's the quick math on Autoship's dominance in Q2 2025:

Metric	Value (Q2 2025)
Autoship Customer Net Sales	$2.577 billion
Percentage of Total Net Sales	83.0%
Year-over-Year Growth in Autoship Sales	15%
Total Net Sales (for context)	$3.104 billion

Also, the paid membership program, Chewy+, is starting to contribute more significantly. In July 2025, it accounted for roughly 3% of total monthly sales, with management expecting it to contribute a mid-single-digit percentage of net sales by the end of the year.

Finally, there are the pet parents willing to spend more on premium and health/wellness products. This group is targeted by initiatives like the new private brand, Get Real, which launched post-Q1 2025 and saw strong early customer reception. These customers are the ones driving the Net Sales Per Active Customer (NSPAC) higher, as they purchase more than just basic consumables.

Finance: draft 13-week cash view by Friday.

Chewy, Inc. (CHWY) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Chewy, Inc.'s operational spending as of late 2025. It's all about scale and logistics in this business, so the costs reflect that.

Cost of Goods Sold (COGS), including product and shipping costs.

The Cost of Goods Sold is the single largest cost component for Chewy, Inc. For the full fiscal year 2025, the annual Cost of Goods Sold was reported at $8.394 billion. This represented a 5.1% increase compared to the 2024 fiscal year. Looking at the most recent reported quarter, the COGS for the first quarter of fiscal year 2025 (ended May 4, 2025) was $2.192 billion. The gross margin for the second quarter of fiscal year 2025 (ended August 3, 2025) stood at 30.4%.

Fulfillment and logistics expenses, a major operational cost.

Fulfillment and operational costs are a key driver within the larger Operating Expenses bucket. In the first quarter of fiscal year 2025, Operating Expenses grew 7.3% to $846.9 million, primarily due to increased fulfillment and operational costs. The total annual Operating Expenses for fiscal year 2025 were $11.749 billion, a 5.17% increase from 2024. For the twelve months ending July 31, 2025, total operating expenses reached $12.183 billion.

Technology and platform development investment (e.g., sponsored ads tech).

Specific dollar amounts for pure technology and platform development investment aren't always broken out separately, but the growth in the sponsored ads business is a noted factor impacting margins. The expansion in gross margin during the second quarter of fiscal year 2025 was fueled, in part, by growth in the sponsored ads business.

Selling, General, and Administrative (SG&A) expenses.

SG&A expenses show a steady climb in line with revenue growth. Chewy, Inc.'s annual SG&A expenses for 2025 were $3.355 billion, marking a 5.34% increase from 2024. For the twelve months ending July 31, 2025, this figure was $3.473 billion, an 8.11% year-over-year increase. In the second fiscal quarter of 2025, SG&A expenses were $671.9 million, which represented 21.6% of net sales for that period.

Marketing and customer acquisition costs.

Marketing spend is closely managed, often targeted as a percentage of sales. For the second quarter of fiscal year 2025, advertising and marketing expenses totaled $200.6 million, representing 6.5% of net sales. This was an increase of 5.3% year over year for the quarter. Looking at the full fiscal year 2025 projection, Chewy's selling and marketing expense peaked at $804.1 million.

Here's a quick look at the major annual cost components for fiscal year 2025:

Cost Component	Fiscal Year 2025 Amount (USD)	Year-over-Year Change (vs. 2024)
Cost of Goods Sold (COGS)	$8.394 billion	5.1% increase
Selling, General, and Administrative (SG&A) Expenses	$3.355 billion	5.34% increase
Total Operating Expenses	$11.749 billion	5.17% increase

You can see the Marketing expense is a significant, though smaller, part of the overall cost base. The company is definitely managing its overhead relative to its revenue growth.

For the second quarter of 2025, here are the key expense metrics:

• Q2 2025 Net Sales: $3.104 billion
• Q2 2025 SG&A as % of Net Sales: 21.6%
• Q2 2025 Advertising and Marketing Expense: $200.6 million
• Q2 2025 Advertising and Marketing as % of Net Sales: 6.5%

Finance: draft 13-week cash view by Friday.

Chewy, Inc. (CHWY) - Canvas Business Model: Revenue Streams

You're looking at the core ways Chewy, Inc. brings in money as of late 2025. It's heavily weighted toward predictable, recurring income, which is exactly what sophisticated investors want to see.

The most significant stream is the Autoship subscription sales, which represent the bedrock of the recurring revenue model. This segment is performing exceptionally well, hitting $2.58 billion in Q2 2025. This figure alone shows the power of locking in repeat purchases for essential pet supplies.

To put this into perspective against the total top line for that quarter, here is a breakdown of the Q2 2025 revenue composition based on reported figures:

Revenue Component	Q2 2025 Amount/Percentage
Total Net Sales (Q2 2025)	$3.10 billion
Autoship Customer Net Sales (Q2 2025)	$2.58 billion
Autoship Share of Total Net Sales	83%
Non-Autoship E-commerce Sales (Calculated)	Approximately $0.52 billion (17% of total)

The remaining revenue comes from Non-Autoship e-commerce sales of pet products and supplies. This includes one-time purchases, larger discretionary items, and sales from customers not enrolled in the recurring program. This segment made up the remaining 17% of the Q2 2025 net sales, equating to roughly $0.52 billion for the quarter.

Chewy, Inc. is also building out higher-margin revenue sources. You see this in the growth of the sponsored ads business. Management pointed to this as a key lever for gross margin expansion in Q2 2025, alongside a higher mix of premium products. While a specific dollar amount for ad revenue isn't always broken out, its impact on profitability is noted.

Furthermore, the company is expanding its footprint in the higher-value pet care space through its health offerings. This includes sales from Chewy Pharmacy and pet health/wellness services. CEO Sumit Singh highlighted the strength of growth in the health categories during the Q2 2025 report, signaling this is a strategic area for revenue diversification and increased customer wallet share.

Looking forward, the company's full-year expectations reflect confidence in these revenue streams continuing to compound. The projected full-year 2025 net sales guidance was raised to a range of $12.5 billion to $12.6 billion. This guidance was an increase of $175 million to the midpoint from prior expectations.

Here are the key drivers supporting this revenue outlook:

• Active customer count reached nearly 20.9 million in Q2 2025.
• Net sales per active customer (NSPAC) was reported at $591 for Q2 2025.
• The Chewy Plus paid membership program is accelerating adoption of Autoship.
• The new private brand, Get Real, is a strategic growth driver in the Fresh Frozen segment.