Pet sector competition is heating up, with Walmart (NYSE:WMT) announcing a new set of pet services today and Petco Animal Supplies filing for an IPO last week. Now, online pet supply retailer Chewy (NYSE:CHWY) has joined the market share scramble with the announced expansion of its pharmacy and pet telehealth services, which will now include customized compounded medications.
Chewy's VP of healthcare Mita Malhotra said in a statement the company "is uniquely positioned to make pet healthcare more accessible and affordable for every American household." The medications will be prepared and shipped based on veterinary recommendations, but Chewy is also planning to expand the service to vet clinics so personnel there can order the medications directly for clients.
The move comes just a few weeks after the company launched its telehealth services for pets, connecting pet owners and veterinarians over the internet for remote consultation and diagnosis while the coronavirus pandemic continues.