Chewy counts a number of fans among pet owners. Its subsequent leg of development—in pet healthcare—will rely largely on charming one other key demographic: veterinarians.
Pet healthcare accounts for roughly 30% of the $100 billion-plus pet trade, based on the American Pet Merchandise Affiliation. Remedy gross sales—together with over-the-counter and prescription—added as much as roughly $10.8 billion in 2020, based on Packaged Information, whose information exhibits that the class has grown at a wholesome compound common development price of roughly 9% since 2017. Chewy Pharmacy, which debuted in 2018, instructions solely a small share of that market thus far. Needham & Co. estimates that Chewy introduced in roughly $500 million in pharmacy gross sales final yr.