6b/ $GME If you’re in the business of delighting your customers I think that you could be very successful. And I think we would’ve been successful in any category.
Conversation
7/ $GME “... when it comes to being the category experts… you call us and we know the product better than anyone else we’re the best in the business.”
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8a/ $GME "The vision for the company was to replicate the experience I had in the neighborhood pet store but do it online and do it at scale.... doing all these things to really delight our customers and show our customers we're bringing a face to e-commerce...
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8b/ $GME within a category like pets where customers are so fanatical all of those small things just create this loyalty, & once customers shop at Chewy they continue shopping at Chewy & tell all their friends and family about this incredible experience."
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9/ $GME [Cohen] likens his obsessive focus on building Chewy to his approach to stock picking. “I don’t want to swing for a single,” he says.
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10a/ $GME “...and I thought wow, if customers can go bananas for shoes online, imagine if we could do it for pet customers who are as fanatical and obsessed with their pets like I am…
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10b/ $GME An emotional connection & a differentiated niche isn’t enough unless there is existing demand. In the pet space, there was demand – a $75 billion TAM for consumable products that people needed to order repeatedly… [RK note: gaming = rapidly growing $150B industry]
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10c/ $GME Right now [Cohen] is trying to figure out what the next “something” will be for him. "I look at almost everything that comes to me, but I say no to 99.9% of it."
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So exciting to be part of the Financial Revolution even more than than all the money we are making everyday! hahaha