Chewy's sales went through the woof on Cyber Monday as 'pet parents' splurged on holiday gifts
racked up record sales on Black Friday and Cyber Monday by capitalizing on people's growing desire to buy holiday gifts for their pets. "We've always realized that pets don't eat more in Q4, just as they don't eat less in Q4," CEO Sumit Singh said at a UBS conference this week, in response to an analyst's question about the importance of the holiday season to the online pet-products retailer.
However, a rising number of people see their pets as family members and want to buy them presents during the holidays. "It's the season of gifting," Singh said."And for consumers to call themselves 'pet parents,' the same dynamic applies in the way that we treat our family members. So we took advantage of that." Chewy broke its sales record on Black Friday, and Cyber Monday was the"single biggest shopping day in our company's history," Singh said on the group'sThe retailer cashed in on pet parents' demand for gifts by opening an online Holiday Shop stocked with an expanded range of seasonal pet toys, treats, costumes, and clothing, Singh said. Chewy got the message out through website promotions and digital, social media, and email marketing. It improved its recommendation engine to deliver smarter, better-targeted product suggestions to customers. And it doubled down on private-label products, including new holiday toys and dog beds under its Frisco brand.
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