If you are an animal lover or have ever owned a pet, you must have heard of Chewy. Chewy is a retailer online business dealing with pet food and other related items. It was founded by Ryan Cohen and Michael Day in 2011. Back then, it was an instant hit among pet owners. The company has its headquarters in Florida and employs more than 19000 people in the USA. Here we will see about Who owns Chewy?
Chewy is a public organization since 2019. It means that the chewy isn’t owns by a single company or a person. However, BC Partners hold the largest chunk of its shares. Two years before its public listing, Cohen and Day sold the company to PetSmart. Cohen remained in the post of CEO throughout the process of its public listing.
The pet food business is considered a low-margin trade. However, Chewy can establish itself as a major player in the market in no time.
Idea
Ryan Cohen he who owns chewy is himself a pet parent. He got the idea of the business in a local pet shop. He realized that there are lots of people in this world who care about their pets and are ready to buy quality food and other services without hesitation. He decided to cater to their need and generate an exclusive marketplace for them.
The company treats each order with utmost care. Their packaging and handling are managed through multiple checkpoints to ensure quality.
Success Story
Chewy is now considered the leading brand in pet food. However, the path to its success was not always smooth. The company had to face many challenges in raising funds and building a supply chain. At that time, the market was dominated by Amazon and nobody believes that there is any room for any other company. However, the founders thought otherwise. They used their savings and small loans to start the company.
The company grew at an exceptional rate. It was so unexpected that initially, it was not possible to fulfill the orders even by including a third-party logistic firm. The founders steps in and established their first warehouse in Pennsylvania.
There were hurdles everywhere. They faced many problems such as staffing issues, software malfunctions, hardware impairments, and some more. Despite these hurdles, Chewy grew exponentially and within five years, it was able to generate revenue of $901 million.
Racing ahead of others
Chewy aims to become one point destination for pet parents. The customers have a collection of more than 60,000 items to choose from. It includes food, supplements, beds, toys, furniture, feeders, etc. They also provide other services such as “Connect with a Vet”, Pet wellness plans, etc. They also supply medicines prescribed by their in-house doctors or others with prescriptions.
Chewy creates an emotional bond with its customers. They send cards to the pet parents on special occasions such as pet birthdays etc. They also wish pets with “Get Well Soon” cards along with medicines. Sending oil paintings of the pet is also done to make the owner realize that the company cares for their pet.
Products
Chewy offers various products according to the type of pet one owns. Few products can cater to general demand such as water fountains, feeders, cage cleaners, goody boxes, etc., others are specific to the type of pet.
Dogs and Cats
A dog is a human’s best friend; we want the best for our best friend. The same is true for cats. Chewy presents a wide range of products specially made to cater to all the needs of our pets. Dog and cat parents can choose from a variety of wet and dry food, premium diet, and special diet made according to the recommendation of a veterinarian. It also provides fresh and prepared meals, food toppings, and a variety of frozen food. Chewy has a wide collection of dental treats, natural chews, catnip, cat grass, biscuit, and cookies specially made for pets.
Chewy also offers a wide range of chew toys, fetch toys, interactive toys, chasers, scratchers, rope, and tug toys. The company also offers a variety of dog houses, cages, carriers, strollers, etc.
Chewy provides GPS activity monitors, automatic feeders, automatic litter boxes, and electronic gates for tech-based monitoring of your pet round the clock.
Small Pets
Chewy has a special section for all the needs of small pets like Rabbits, Guinea Pigs, Hamsters, Rats, Ferrets, Hedgehogs, etc. It offers small animal treats, Chew toys, special food, beddings, litter pans, etc. at a reasonable price. Chewy has a large collection of exercise wheels, hideouts, animal carriers, and bathing accessories also.
The pet parents can purchase various accessories such as Deodorizer Spray, Grooming Kits, Harnesses, and Leads without any hassle.
Revenue Generation
Despite being a huge success, Chewy acknowledges the fact that running a pet shop is a difficult task. It is a low-margin business, which requires innovation and creativity to generate revenue. In Chewy, 68% of revenue is generated by the “Auto shop” facility. This facility helps customers to order food and medicines for their pets on a regular period. Chewy provides a discount to its customers on opting Auto shop facility. Customers can cancel or reschedule any order without any fee.
Chewy also provides the facility of consulting to its in-house veterinarians. The pet parents can consult the veterinarians through a helpline number for a nominal fee. The customers who have opted for “Auto shop” are eligible for free consultations.
Conclusion
Chewy is a public company owned by its shareholders. It is a huge success in a low-margin business since it visualizes its customers with empathy, affection, and utmost importance. It works continuously to achieve the highest degree of customer satisfaction and build a bond with them.
Frequently Asked Questions
Q: What is the “Auto Shop” facility on Chewy?
A: “Auto Shop” is a provision provided by Chewy to help its customers to order commonly used products repeatedly. The customer can decide the frequency of recurring orders themselves. The orders can be canceled anytime without any fee. The customers also get discounts on the items purchased.
Q: Can I return pet food purchased from Chewy?
A: The topmost priority of Chewy is to provide complete customer satisfaction to the customers. Thus, if you are not satisfied with the product, you can return it within one year of its date of purchase. Chewy will give full return to it.
