Reported 4 months ago
The CEO of Chewy, Sumit Singh, explains why pet food prices have significantly increased over the last three years, citing an 'unprecedented amount of inflation' passing through the system. While prices traditionally rose by 2% to 4%, they are now climbing in double-digit percentages. Singh anticipates incremental discounting in the latter half of the year as vendors and retailers work to stimulate demand. Despite the ongoing price floor, consumers may expect some relief through discounts. Singh highlights an emphasis on profitability and value for consumers in Chewy's future plans.
Source: YAHOO