The insight: Pet owners increasingly prefer to purchase products online—a shift that is enabling Chewy to win market share while Petco languishes.
- Roughly 2 in 5 pet product sales will occur online this year, per our forecast.
- We expect pet product ecommerce sales to grow 8.8% this year, twice as fast as overall category sales.
Chewy sees opportunity: The uptick in ecommerce adoption is working in Chewy’s favor. The retailer acquired over 400,000 customers in Q4 as more shoppers opted to get essentials like food and treats delivered to their door.