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Chewy CEO Sumit Singh is seen outside the New York Stock Exchange (NYSE) ahead of Chewy Inc.’s IPO in New York City, June 14, 2019.
Andrew Kelly | Reuters
Chewy CEO Sumit Singh said on Tuesday he wanted to order dog food – and even have kitty litter delivered – to make it feel a bit like going to Disney World.
Speaking at a CNBC Evolve virtual event, Singh said the online pet retailer is working to leave an impression.
“Do you remember the first time you went to Disney and had such a good experience, then you thought ‘I wish I could go back’ and you had a great experience again?” he told CNBC’s Courtney Reagan. “It’s about those aggravating and amplifying experiences that only push consumers back and build loyalty over time. I think that’s what we really are.”
Chewy was founded over a decade ago and has grown into one of the fastest growing ecommerce sites, with a built-in cult and recurring revenue from auto-shipped orders. The startup was acquired by physical retailer PetSmart for $ 3.35 billion in 2017. But PetSmart ceded the online business and went public in June 2019. About nine months after Chewy’s debut, the pandemic has hit and fed a pet boom.
Singh, who joined Chewy in 2018, said worries about customer service and corporate culture always kept him awake at night. He said he wanted to retain the qualities that attracted customers early on, such as fast shipping and a commitment to innovation.
But the retailer, he said, is also looking for ways to go the extra mile – and sometimes, the extra set of stairs.
Singh told the story of an older customer who called Chewy, saying she needed help transporting her bulky package and soon arrived at her New York apartment. One of his employees looked for options. In the end, Singh said, the employee ordered pizza for the woman – and tipped the delivery guy extra to carry the Chewy order up the stairs.
“Not only did we deliver a free pizza, but we actually delivered this box to her when she needed it most,” he laughed.
Chewy’s shares hit an all-time high of $ 120 in mid-February, but have fallen since then. The stock closed at $ 92.10 Tuesday afternoon. Shares are up about 2.5% this year.
The company will release its second quarter financial results on September 1.
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