CHWY's Rising NSPAC Shows Strong Engagement & Premiumization Strategy

Chewy's NSPAC climbs to $591 in fiscal 2025 as premium products, vet care and Autoship drive spending per customer.

Chewy, Inc. CHWY continues to demonstrate strong growth in Net Sales Per Active Customer (NSPAC), highlighting the company’s success in driving deeper engagement and higher spending among existing customers. NSPAC has steadily increased over the past four years, rising from $496 in fiscal 2022 to $555 in fiscal 2023, $567 in fiscal 2024 and $591 in fiscal 2025. This consistent upward trajectory reflects the strength of Chewy’s recurring revenue model, expanding product mix and growing customer loyalty.Management stated that NSPAC expansion remains one of the primary drivers of Chewy’s long-term growth strategy. The company continues to benefit from favorable pet industry trends, including rising pet humanization, premium product adoption, and increased spending on health and wellness categories. Chewy also expects e-commerce penetration in the pet category to continue increasing as consumers prioritize........

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