Chewy seeks bigger share of $ 19 billion veterinary market

Chewy Inc., the online pet supplies merchant that generated $ 7.14 billion in net sales to consumers last year, is branching out into more B2B e-commerce.

Chewy, which maintains an online inventory of over 70,000 products spanning over 2,500 brands, has launched an e-commerce service and platform for veterinarians.

The new platform, known as the Practice Hub, allows vets to set prices, create pre-approved prescriptions, and generate revenue when customers place an order in the clinic or buy from them while shopping. on

“This new platform uses technology to bring veterinarians to the forefront of e-commerce,” said Sumit Singh, CEO of Chewy.

Practice Hub is Chewy’s latest initiative in the veterinary market, which in the United States generates annual sales of more than $ 19 billion, according to Grandview Research.

In 2018, Chewy launched Chewy Pharmacy, a one-stop-shop for pet prescriptions, and in October 2020? “Connect with a Vet”, a consumer telehealth service for veterinary care.

With Practice Hub, vets can use a prescribing feature to approve medications and authorize special diet pet foods. Consumers order online from the veterinary clinic through Chewy Marketplace and Chewy processes, fills and ships all orders.

“We are very excited to launch a Marketplace for Vets directly on to help them increase clinic revenue and improve the pet parenting experience,” Singh told analysts at the meeting. ‘call for the company’s second-quarter earnings earlier this month.

Chewy already has approximately 9,000 clinics using its prescribing service, which serves as the execution and business development base for Practice Hub, Singh said. “We provide vets with a complete e-commerce solution for their clients,” said former Singh analysts. “Practice Hub leverages the benefits of our fast and reliable delivery, unmatched customer service and a convenient automotive hip subscription service. “

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