Chewy, Inc. (Chwy): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Na paisagem em constante evolução do comércio eletrônico de animais de estimação, a Chewy, Inc. emergiu como uma potência digital, transformando como os donos de animais compram seus companheiros peludos. Ao misturar perfeitamente a tecnologia de ponta, estratégias centradas no cliente e uma ampla gama de produtos, a Chewy interrompeu os modelos tradicionais de varejo e criou uma proposta de valor exclusiva que ressoa com os pais de estimação modernos. Este mergulho profundo na Canvas de modelo de negócios da Chewy revela os intrincados mecanismos por trás de seu crescimento fenomenal e sucesso no mercado, oferecendo informações sobre como uma plataforma digital pode revolucionar uma indústria inteira.

Chewy, Inc. (Chwy) - Modelo de negócios: Parcerias -chave

Fabricantes e marcas de alimentos para animais de estimação

Chewy mantém parcerias com mais de 1.500 marcas de alimentos e produtos para animais de estimação a partir de 2023. Os principais parceiros incluem:

Marca	Detalhes da parceria
Royal Canin	Acordos exclusivos de distribuição online
Purina	Distribuição abrangente da linha de produtos
Dieta científica de Hill	Relacionamento direto do fornecedor

Provedores de serviços veterinários

A Chewy colabora com redes veterinárias por meio de seu programa de farmácia em borracha, atendendo a aproximadamente 15.000 clínicas veterinárias em todo o país.

• Programa de rede de farmácias veterinárias
• Distribuição de medicamentos prescritos
• Plataforma de comunicação veterinária direta

Companhias de logística e navegação

As parcerias de remessa primárias incluem:

Parceiro de remessa	Volume de envio anual
UPS	60% do volume total de envio
FedEx	35% do volume total de envio
USPS	5% do volume total de envio

Fornecedores de tecnologia e software

Chewy investe aproximadamente US $ 150 milhões anualmente em parcerias e infraestrutura de tecnologia.

• Amazon Web Services (infraestrutura em nuvem)
• Salesforce (plataforma CRM)
• Oracle (software Enterprise)

Fornecedores de produtos para cuidados com animais de estimação e bem -estar

Parcerias com marcas de bem -estar e acessórios, totalizando 2.300 fornecedores exclusivos em 2023.

Categoria	Número de fornecedores
Suplementos para animais de estimação	450 fornecedores
Acessórios para animais de estimação	850 fornecedores
Produtos de bem -estar para animais de estimação	1.000 fornecedores

Chewy, Inc. (Chwy) - Modelo de negócios: Atividades -chave

Plataforma de vendas de produtos para animais de estimação com comércio eletrônico

A partir do quarto trimestre de 2023, a Chewy opera uma plataforma digital com 20 milhões de clientes ativos. A Companhia processou 574,8 milhões de ordens totais em 2022, representando um aumento de 13,5% em relação ao ano anterior.

Métrica da plataforma	2023 dados
Total de clientes ativos	20 milhões
Pedidos totais em 2022	574,8 milhões
Crescimento anual da ordem	13.5%

Atendimento ao cliente e suporte

Chewy mantém uma equipe de atendimento ao cliente 24/7 com tempos de resposta com média de 15 a 20 segundos. A empresa emprega aproximadamente 3.500 representantes de atendimento ao cliente.

• Disponibilidade de suporte ao cliente 24/7
• Tempo médio de resposta: 15-20 segundos
• Tamanho da equipe de atendimento ao cliente: 3.500 representantes

Curadoria de produtos e seleção

A Chewy oferece mais de 80.000 produtos para animais de estimação em várias categorias, com 70% das vendas derivadas de assinaturas recorrentes de automóveis.

Métrica de seleção de produtos	2023 dados
Catálogo total de produtos	Mais de 80.000 produtos
Vendas de assinatura de autoria automática	70%

Marketing digital e aquisição de clientes

Em 2022, Chewy gastou US $ 448,1 milhões em despesas de marketing, representando 13,6% do total de vendas líquidas.

Atendimento automatizado de pedido e envio

A Chewy opera 7 centros de atendimento nos Estados Unidos, com precisão de 99,5% do pedido e tempos médios de envio de 1-2 dias úteis.

Métrica de cumprimento	2023 dados
Centros totais de atendimento	7
Precisão do pedido	99.5%
Tempo médio de envio	1-2 dias úteis

Chewy, Inc. (Chwy) - Modelo de negócios: Recursos -chave

Infraestrutura robusta de tecnologia de comércio eletrônico

A partir do quarto trimestre 2023, Chewy opera um Plataforma de tecnologia baseada em nuvem Com as seguintes especificações:

Métrica de tecnologia	Especificação
Tráfego do site	50,4 milhões de visitantes mensais únicos
Downloads de aplicativos móveis	4,5 milhões de usuários ativos
Tempo de atividade no site	99,99% de confiabilidade

Extenso inventário de produtos

Chewy mantém uma gama abrangente de produtos:

• Mais de 80.000 SKUs de produtos para animais de estimação
• 70% dos estoques provenientes diretamente dos fabricantes
• Parcerias com mais de 2.000 marcas de produtos para animais de estimação

Banco de dados de clientes e programa de fidelidade

Métrica do cliente	Data Point
Total de clientes ativos	20,2 milhões a partir do quarto trimestre 2023
Repita a taxa de compra	68% de retenção de clientes
Assinantes de autoria automática	5,3 milhões de assinantes ativos

Recursos de marketing digital

• Gastes anuais de marketing digital: US $ 380 milhões
• 5,7 milhões de seguidores de mídia social em plataformas
• Algoritmos de recomendação personalizados

Centros de distribuição e atendimento

Métrica de logística	Especificação
Centros totais de atendimento	9 centros estrategicamente localizados
Capacidade diária de envio	350.000 pedidos por dia
Tempo médio de entrega	1-2 dias úteis

Chewy, Inc. (Chwy) - Modelo de Negócios: Proposições de Valor

Ampla seleção de produtos para animais de estimação

A Chewy oferece mais de 80.000 produtos para animais de estimação em mais de 200 marcas a partir de 2024. As categorias de produtos incluem:

Categoria	SKUs aproximados
Comida de estimação	35,000
Medicamentos para animais de estimação	12,500
Acessórios para animais de estimação	22,000
Brinquedos para animais de estimação	10,500

Experiência conveniente de compra on -line

Métricas de plataforma digital a partir de 2024:

• Tráfego do site: 55 milhões de visitantes mensais
• Downloads de aplicativos móveis: 4,2 milhões
• Taxa média de conversão do local: 3,7%
• Tempo médio no local: 6,2 minutos

Preços competitivos

Dados de comparação de preços:

Tipo de produto	Preço médio mastigável	Preço médio do concorrente	Porcentagem de economia
Comida de cachorro (bolsa de 30 lb)	$52.99	$64.50	17.8%
Ninhada de gato (20 lb)	$15.49	$19.99	22.5%

Opções de entrega de automóveis e recorrentes

Estatísticas do programa de autoria automática:

• Total de clientes de autoria automática: 6,3 milhões
• Porcentagem de receita da Autoship: 67%
• Valor médio da ordem de autoria automática: $ 84,50
• Taxa de retenção de clientes por meio da automóvel: 85%

Atendimento ao cliente personalizado

Métricas de desempenho do atendimento ao cliente:

Métrica	2024 Performance
Pontuação de satisfação do cliente	4.8/5
Tempo médio de resposta	12 minutos
Canais de suporte 24/7	Telefone, bate -papo, e -mail
Representantes de suporte ao cliente	2,100

Chewy, Inc. (Chwy) - Modelo de Negócios: Relacionamentos do Cliente

Suporte ao cliente 24 horas por dia, 7 dias por semana

Chewy fornece atendimento ao cliente 24 horas por dia com as seguintes estatísticas:

Canal de suporte	Tempo médio de resposta	Taxa de satisfação do cliente
Suporte telefônico	2,5 minutos	92%
Chat online	1,8 minutos	94%
Suporte por e -mail	4,2 horas	88%

Bate -papo online e assistência telefônica

Os canais de suporte ao cliente da Chewy incluem:

• Chat ao vivo disponível 24/7
• Suporte por telefone gratuito
• Representantes multilíngues de atendimento ao cliente

Recomendações de produtos personalizados

Métricas de personalização:

Precisão da recomendação	Taxa de envolvimento do cliente	Taxa de conversão
78%	65%	22%

Programa de fidelidade e recompensas

Detalhes do programa de fidelidade de Chewy:

• Programa de autoria automática Inscrição: 70% dos clientes ativos
• Economia média por cliente: US $ 47 anualmente
• Repita taxa de compra: 63%

Engajamento da comunidade através de plataformas digitais

Estatísticas de engajamento digital:

Seguidores de mídia social	Participantes do fórum da comunidade	Conteúdo gerado pelo usuário
Instagram: 1,2 milhão	45.000 membros ativos	12.500 análises de produtos semanalmente

Chewy, Inc. (Chwy) - Modelo de Negócios: Canais

Site da empresa

A Chewy.com atua como o principal canal de vendas diretas, processando 100% das transações de produtos para animais de estimação on -line para a empresa. A partir do quarto trimestre de 2023, o site lidou com aproximadamente 20,7 milhões de clientes ativos com uma taxa de compra repetida de 64,3%.

Métrica do site	2023 dados
Visitantes mensais do site	48,3 milhões
Valor médio do pedido	$93.47
Taxa de conversão	3.8%

Aplicativo móvel

O aplicativo móvel da Chewy possui 7,2 milhões de usuários mensais ativos em dezembro de 2023, representando 34,8% do tráfego digital total.

• Disponibilidade da plataforma iOS e Android
• 4.7/5 App Store Média App Store Classificação
• Suporta auto-navio, rastreamento de pedidos e atendimento ao cliente

Plataformas de mídia social

Chewy mantém a presença ativa das mídias sociais em várias plataformas com base combinada de seguidores de 2,9 milhões.

Plataforma	Contagem de seguidores
Instagram	1,4 milhão
Facebook	1,1 milhão
Tiktok	400,000

Marketing por e -mail

O email marketing gera 22,6% da receita digital total, com 18,3 milhões de assinantes de email ativos em 2023.

• Taxa média de abertura do email: 24,7%
• Taxa de clique: 3,9%
• E -mails de recomendação de produto personalizado

Publicidade digital

Chewy gastou US $ 287,4 milhões em publicidade digital em 2023, representando 8,6% da receita total.

Canal de anúncio digital	Gaste porcentagem
Google anúncios	42.3%
Anúncios de mídia social	33.7%
Exibição programática	24%

Chewy, Inc. (Chwy) - Modelo de negócios: segmentos de clientes

Donos de animais

A partir do quarto trimestre de 2023, Chewy atende a aproximadamente 20,8 milhões de clientes ativos. O mercado total de proprietários de animais nos Estados Unidos representa 70% das famílias, o que equivale a aproximadamente 90,5 milhões de casas.

Categoria de cliente	Número total	Porcentagem de mercado
Total de donos de animais em nós	90,5 milhões	70%
Clientes ativos em borracha	20,8 milhões	23%

Donos de cães e gatos

Os principais segmentos de foco de Chewy incluem:

• Donos de cães: 69 milhões de famílias
• Proprietários de gatos: 45,3 milhões de famílias

Tipo de estimação	Número de famílias	Gastos médios anuais
Donos de cães	69 milhões	US $ 1.380 por ano
Donos de gatos	45,3 milhões	US $ 908 por ano

Millennial e Gen Z Pet Pais

Insights demográficos -chave para os segmentos -alvo de Chewy:

• Millennials: 72% de animais próprios
• Gen Z: 52% de animais próprios
• Poder de compra combinado: US $ 350 bilhões anualmente

Entusiastas de compras on -line

Estatísticas do mercado de produtos para animais de estimação de comércio eletrônico:

• Vendas on -line de produtos para animais de estimação: US $ 29,4 bilhões em 2023
• Taxa de crescimento projetada: 15,3% anualmente
• Participação de mercado da Chewy: 43% das vendas on -line de produtos para animais de estimação

Clientes repetidos e baseados em assinatura

Desempenho do modelo de assinatura:

Métrica	Valor
Repetir a taxa de cliente	67%
Assinantes de autoria automática	7,2 milhões
Valor médio de assinatura	US $ 62 por pedido

Chewy, Inc. (Chwy) - Modelo de negócios: estrutura de custos

Compras de inventário

No ano fiscal de 2022, Chewy relatou o custo total dos bens vendidos (engrenagens) de US $ 8,19 bilhões. A empresa mantém uma abordagem estratégica para o gerenciamento de inventário com as principais métricas:

Métrica de inventário	Valor
Investimento anual de inventário	US $ 2,3 bilhões
Taxa de rotatividade de inventário	10.2x
Dias de inventário em circulação	36 dias

Manutenção de tecnologia e plataforma

Chewy aloca recursos significativos para a infraestrutura de tecnologia:

• Despesas de tecnologia e desenvolvimento em 2022: US $ 362 milhões
• Investimento de infraestrutura tecnológica: 4,4% da receita total
• Custos de computação em nuvem e hospedagem: US $ 78 milhões anualmente

Marketing e aquisição de clientes

Redução de despesas de marketing para 2022:

Categoria de despesa de marketing	Quantia
Gastos totais de marketing	US $ 571 milhões
Publicidade digital	US $ 342 milhões
Custo de aquisição de clientes (CAC)	US $ 45 por novo cliente

Fechando e despesas de remessa

Detalhes da estrutura de custos de cumprimento:

• Despesas totais de atendimento em 2022: US $ 687 milhões
• Despesas de envio: US $ 512 milhões
• Custo do cumprimento por pedido: US $ 7,85
• Rede de armazenamento e logística: 9 centros de distribuição

Operações de atendimento ao cliente

Alocação de custos de atendimento ao cliente:

Métrica de atendimento ao cliente	Valor
Despesas totais de atendimento ao cliente	US $ 276 milhões
Número de representantes de atendimento ao cliente	3,200
Custo médio por interação de atendimento ao cliente	$12.50

Chewy, Inc. (Chwy) - Modelo de negócios: fluxos de receita

Vendas diretas de produtos

A Chewy gerou US $ 9,95 bilhões em vendas líquidas para o ano fiscal de 2022. Alimentos e suprimentos para animais de estimação representaram aproximadamente 90% da receita total.

Categoria de produto	Porcentagem de receita
Comida de estimação	65%
Suprimentos para animais de estimação	25%
Outros produtos para animais de estimação	10%

Pedidos de assinatura e recorrente

Os pedidos recorrentes representavam 70,3% das vendas líquidas da Chewy no terceiro trimestre de 2022. O cliente médio faz aproximadamente 5,6 pedidos por ano.

• Valor da ordem de assinatura: média de US $ 75 a US $ 100 por pedido
• Taxa de retenção de clientes: 73% a partir de 2022

Programa de autoria automática

O Programa de Autoship gerou US $ 7,02 bilhões em receita recorrente para 2022. Os clientes recebem um desconto de 5 a 10% em pedidos de automóveis.

Métricas de autoria automática	Valor
Receita total de autoria automática	US $ 7,02 bilhões
Desconto do automóvel	5-10%
Taxa de penetração automática	65%

Serviços de cuidados com animais de estimação premium

A Chewy's Connect com um serviço de telessaúde veterinária gerou aproximadamente US $ 120 milhões em receita adicional para 2022.

• Taxa de consulta de telessaúde: US $ 49,99 por sessão
• Receita dos Serviços de Farmácia: US $ 85 milhões

Comissão de vendas de produtos de terceiros

As vendas do mercado de terceiros geraram US $ 180 milhões em receita de comissão para 2022.

Canal de vendas de terceiros	Receita da Comissão
Vendas de mercado	US $ 180 milhões
Taxa de comissão	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.