How Chewy is winning the tug of war for pet dollars:
That spending curve, Singh said, illustrates “how much future revenue growth is already embedded in our active customer base - revenue potential which we can and will unlock over time.”
Those who still are skeptical about Chewy’s long-tern prospects are mainly focused on the question of whether it can keep all of the millions of customers it gained during the pandemic surge in pet adoptions. The company retained 99.7% of active customers in the first quarter, Marte said, and active customers “tend to stay with us over long periods of time and increase their spend with us year after year,” Singh said.
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