Note: all the charts to follow are a result of our analysis. Business Solutions including all features. Chewy has a long runway of growth ahead and should focus on capturing more of the US pet consumables and supplies markets. . Also compelling is the predictability of the business, including "consistent consumption patterns" and "minimal seasonality," Wells Fargo said, noting that with Chewy's "AutoShip offering and strong customer retention dynamics to date, we believe [the company] pairs strong growth prospects with strong business visibility/predictability. Note: We include all marketing spend in our calculation of CAC for simplicity, even though some marketing may actually target existing customers. Chewy ( CHWY 3.24%) has emerged as a leading pet products retailer, and a main reason for that is the strength of its customer relationships. Nevertheless, companies like Wayfair and Warby Parker as well as e-commerce giant Amazon had pioneered a shift in consumer purchasing behavior. The most common race/ethnicity at Chewy is White. Chewys approach to empowering their customer service agents is a highly effective page right from the Zappos playbook. Yes, I do see the companys customer service ethos as key to its success. Company Reviews Questions. Chewy. The company has built a loyal following with the fundamental understanding that pet parents regard their fur babies as significant members of their families. Net loss narrowed in the quarter to $32.8 million from $82.9 million a year ago, the company said. Pets, pet products, and pet care are all part of a $103.6 billion national industry; 40.5% of revenue is from food and treats alone. Chewy is a male-dominated company. Thatbreaks the previous quarter's customer acquisition record, CEO Sumit Singh told analysts, according to a Seeking Alpha transcript of a Thursday call. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Salary Search: Telehealth Veterinary Technician - Remote . CHEWY, INC. (Exact name of registrant as specified in its charter) Delaware 90-1020167 (State or other jurisdiction of incorporation or organization) (I.R.S. of petfood's. Also it is predicted that it will double (or more) in a period of 6 to 8 years. History Chewy was founded in 2010 by Ryan Cohen ("Cohen") and Michael Day ("Day"), initially operating under the name Mr. Chewy, with an initial . Assuming the survival curve for future cohorts are similar to recent cohorts, this leads to a stable base of customers as shown here: With rapid growth in the last few years, the proportion of Chewys customer base that are newly acquired is relatively high. If you think of all active customers in the market as a large pie, then customer demographics are ways you can divide that pie into different slices. And I had this epiphany; I realized Im so much more passionate about this category. Founded in 2011, the firm has become one of the leading e-commerce players in the United States. Six months later, I had the opportunity to move to the Writing Team, which consisted of mainly email and chat support at that time. 55% of employees earn a salary of $25k-40k a year. Utilizing probability models and methodology based on Customer-Based Corporate Valuation1, this report provides a unique analysis of Chewys customer dynamics, economics, and valuation. Chewy has the best customer service. It does not store any personal data. Active customers of Chewy Inc. in the United States 2017-2021 Published by Emma Bedford , May 19, 2022 Chewy Inc. witnessed a significant increase in its number of active customers in. Chewy is an internet retailer that sells pet products online. to incorporate the statistic into your presentation at any time. Subscribe to Retail Dive for top news, trends & analysis. Whelan Security. A customer-centric organization always helps build strong customer loyalty! At this stage in the companys growth, it makes sense to be focused on capturing the US opportunity and executing operationally before making a foray into other markets. They understand the significance emotion plays in customer purchase intent and decisions, then leverage their ability to create genuine customer connections to build loyalty and expanded market share. This calculation may overstate CAC (as well as PAV), especially in later years as an increasing portion of Chewys marketing spend will be attributable to retaining current customers, rather than new customer acquisition. ET, Webinar It doesn't happen often, but this year, my nominee for the " Most Amazing Marketing Campaign in 2018 " goes to chewy.com. By every metric, the pet industry represents one of the most lucrative . Hi folks, Viktor checking in! With that realization in mind, the then 26-year-old Cohen flew to Silicon Valley to knock on investor doors and pitch them his business. The cookie is used to store the user consent for the cookies in the category "Other. Go to Orders, click on the order you want to cancel, and click the "Cancel This Order" link. About Company Q&A on Comparably. To use individual functions (e.g., mark statistics as favourites, set 1855 Griffin Road, Suite B-428, Dania Beach, Florida 33004 (Address of principal executive offices) (Zip Code) (786) 320-7111 I started at Chewy as a Customer Service Representative in January of 2019 in Dallas. In 2017, Chewy also launched American Journey, a Chewy-exclusive brand. Depending on how this delicate balance shifts over time, Chewy may need to reduce its free-shipping minimum to improve retention rates. All of the ads are upbeat, brief and colorful and feature lots of testimonials and images of happy pets. A little less than a year later, the coronavirus pandemic forced people to stay sheltered at home. This long-term vision and strategy will result in sustained brand relevance. Available: https://www.statista.com/statistics/1309321/chewy-inc-active-customers-us/, Number of active customers of Chewy Inc. in the United States from 2017 to 2021, Available to download in PNG, PDF, XLS format, Leading household and pet care online retailers worldwide 2021-2027, by sales, Household and pet care: estimated global sales value 2021-2026, by channel, Global pet food sales channel share 2017-2025, Retail e-commerce sales in the U.S. 2014-2025, Total number of pet stores in the United States 2012-2028, United States: Top 5 Pet supplies online stores, Online revenue share of the pet food market in the United States 2017-2025, Net sales of Chewy Inc. in the United States 2017-2021, Active customers of Chewy Inc. in the United States 2017-2021, Net sales of Chewy Inc. in the United States 2021, by segment, Most-searched pet food attributes on Amazon in the U.S. 2020-2021, How pet owners search for pet products online in the U.S. 2021, Pet owners with monthly pet supplies subscription boxes U.S. 2021, by generation, Global household & pet care sales growth pre- and post-COVID-19 2020, by market, Outlets visited to buy pet food during coronavirus (COVID-19) in the U.S. 2021/22, Outlets visited to buy pet treats during coronavirus (COVID-19) in the U.S. 2021/22, Outlets visited to buy pet toys during coronavirus (COVID-19) in the U.S. 2021/22, Change in U.S. online pet supplies spending due to coronavirus in March 2020, Amount of pet supplies available on CENEO in Poland 2022, Brand searches per month of pet supplies websites in the UK 2022, Monthly consumer price index (CPI) of pets and pet supplies in Denmark 2020-2022, Most searched pet supplies related keywords online in the UK 2020, Most competitive pet supplies related keywords online in the UK 2020, Receding pet supplies brands based on change in online interest in the UK 2020, Emerging pet supplies brands based on change in online interest in the UK 2020, Emerging pet supplies brands based on online search volume in the UK 2020, Online pet supplies stores share in Russia 2020-2021, by region, Change of online visibility of pet supplies brands in UK 2021, Online visibility of pet supplies brands in the UK 2021, Pet supplies online market growth in Russia 2019-2021, by indicator, Most reviewed pet supplies websites in the UK 2021, Emerging pet supplies based on online search volume in the UK 2020, Change of online visibility of pet supplies brands by market comparison in UK 2021, Most searched pet supplies online in the UK 2020 based on consumer interest, Pet products shipment value in Japan FY 2020, by species, Number of pet stores in Canada by region 2021, Most well-known pet supply online shops in the United States 2022, Online pet care market in the United States, Number of active customers of Chewy Inc. in the United States from 2017 to 2021 (in millions), Find your information in our database containing over 20,000 reports. Chewy has the best customer service. The company operates offices in more than 20 locations across the United States. In other words, fewer and fewer new customers are needed each year to keep its customer base growing. A customer data platform (CDP) helps with both data collection and customer data integration. As a result of his online endeavors, Cohen opted against going to college and instead continued to work on his business. As the name suggests, the service connects you with a certified and accredited veterinarian. Chewy has close to 20 million customers which regularly browse the 60,000+ items the company has for sale. As soon as this statistic is updated, you will immediately be notified via e-mail. "[T]he new active customers we added in Q1 and Q2 of this year surpassed the total active customers we added across the entirety of 2019.". As such, raising capital became a necessity again. Because younger people humanize their pets and treat them as family members, they are more willing to pay for premium products and services. I also love having the ability to adjust my auto-ship dates. At least, thats true for most pet owners. You also have the option to opt-out of these cookies. For non-Chewy customers: For non-customers, you may exercise your applicable rights by using our online portal or by calling 1-800-672-4399. The deceleration in customers acquired, combined with the long tails of each cohort building up over time, means that Chewys customer base will become more mature with a decreasing blended churn rate. At age 13, he began building websites for family members and other local businesses. The person asking the question will be notified of your answer, and it will be posted publicly. Employer Identification No.) It just started selling its brands in PetSmart stores in late-2018. There are numerous opportunities both online and offline for Chewy to expand into other areas organically or via acquisitions. Customers could now purchase Chewy dog food and Chewy cat food. You have reached the maximum number of free visitors viewing for today. They offer over 7 million items in their inventory for purchase with prices ranging from $1 to over $200. Let Retail Dive's free newsletter keep you informed, straight from your inbox. Chewy may also be known as or be related to Chewy, Chewy Inc, Chewy, Inc, Chewy, Inc. and Chewy.com. The site arose from my fascination with how modern-day businesses utilize technology and product-led thinking to become dominant players in their industry. Chewys variable margin is insufficient to cover fixed costs and generate meaningful profit, even at significant scale. Chewy competitors reach out. Cohen had been exposed to the world of business from a very early age. In the summer of 2014, Chewy opened up a 400,000-square-foot logistics facility in Mechanicsburg, Pennsylvania. Cohen met him a year prior in 2012. The Shopify Business Model How Does Shopify Make Money? Chewys website was launched in the summer of 2011, just weeks after the jewelry pivot. It is remarkable that Chewy was able to acquire 7x as many customers in 2018 versus 2015 with only a relatively small increase in CAC. Zippia gives an in-depth look into the details of Chewy, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Chewy. The company has drawn notice for sending flowers and condolences to a customer who called to cancel an order after a pets unexpected death. Chewys ads also make an economic case familiar to DTC or D2C brands. These insights are the result of probability models fit to the historical acquisition, retention, and spend of Chewys customer cohorts. Get extra savings off your first Autoship order and 5% ongoing, no commitments or fees. DMR Stats and Fun Facts Pet Services Statistics and Fun Facts Chewy Statistics and Facts. Chewy, Inc. 3 Fiscal 2021 Letter to Shareholders 6 These positive new customer behaviors flow through to NSPAC, which is an important gauge of overall . Detected suspicious activities and watched for criminal acts on assigned premises. This cookie is set by GDPR Cookie Consent plugin. On an NPV basis, the value of Chewys current and future customers points to a valuation significantly below its value in the public market. Larry Cheng, the firms co-founder and managing partner, was the one who signed the deal off. Of all of the channels that companies use to interface with customers, 79% of customers say they prefer live chat. 9% of Chewy employees are Black or African American. They understand the significance emotion plays in customer purchase intent and decisions, then leverage their ability to create genuine customer connections to build loyalty and expanded market share. Customer Service Pharmacy Tech. This cookie is set by GDPR Cookie Consent plugin. And lastly, the spectacular rise and fall of Pets.com, which became a symbol of the dot-com era, was still top of mind for many seasoned investors. This compares to $53 in both 2016 and 2017, and $38 in 2015. Chewy 's ( CHWY -1.46%). The company provides dry and wet food, pharmacy, toys, furniture, supplements, and other products. You may also email us at service@chewy.com. Cohen took that inspiration and turned it into something valuable from a very early age. The cookie is used to store the user consent for the cookies in the category "Performance". Contact us today for more information about how we can help you reach your goals. Topics covered: brand launches, expansion opportunities, partnerships, startup trends, funding, and more. The customers Chewy is acquiring are profitable with Post-Acquisition Value of approximately $300 per acquired customer. Apply Today Customers First We're always here for our customers. As outlined earlier, the survival curve of each cohort flattens out after an initial steep decline. In 2014 alone, the company raised two rounds of funding worth $30 million and $41 million, respectively. We apply statistical models for these processes to build up to a cohort level analysis. Get full access to all features within our Business Solutions. The survival curve flattens out quickly with approximately 53% of customers active in year 3 and 50% active in year 4. Purchase intent, such as clothing, electronics and furniture. ", Chewy, Number of active customers of Chewy Inc. in the United States from 2017 to 2021 (in millions) Statista, https://www.statista.com/statistics/1309321/chewy-inc-active-customers-us/ (last visited March 02, 2023), Number of active customers of Chewy Inc. in the United States from 2017 to 2021 (in millions) [Graph], Chewy, March 29, 2022. | 11 a.m. Roughly nine months after Chewy made its debut, the pandemic struck and fueled a pet boom. This Chewy.com ad cleverly targets the new parent demographic. record, CEO Sumit Singh told analysts, according to a Seeking Alpha transcript of a Thursday call. Analyzing Its Business Model. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Chewy aims to expand its customer base through advertising and marketing to acquire new customers from existing and new channels. Furthermore, adjacent services can be added to make a customers life even easier. He was replaced by Sumit Singh, who joined the company as its Chief Operating Officer back in August 2017. The pets e-retailer beefed up margins in the second quarter, thanks in part to the expanded offering of private label goods. Chewys stock has since traded in the $30-$35 range with a recent close of $33.75, equating to an incredible $14.3 billion market cap. Contacts. The Customer Service Pharmacy Tech will focus on "wow-ing" our pet-parent customers with stellar service. Our model results in single-digit growth thereafter. Pet care (walking, daycare, etc.) New Chewy Customers Are Spending More on Their Orders. Available at SSRN: https://ssrn.com/abstract=3040422. So far, both services are free to use. 1) Customer acquisition and active customers to grow at slowing rate, 2) Chewy has hit the inflection point on the adoption S-curve, 3) Blended churn rate of 33% in 2018 to decline over time as long tails kick in, 4) Customer Acquisition Cost (CAC) of $65 in 2018, 5) Post-Acquisition Value (PAV) of approximately $300, 6) Profitable economics, but on a deteriorating trend, 7) Valuation of $3.7 billion ($8.60 per share), 8) Difficult to justify current share price any way you look at it, 9) Ways in which Chewy can improve its customer acquisition, retention, spend, and profitability. DTC brands seeking to build awareness, attract new audiences, and engage with their existing customers would do well to consider Chewys direct to consumer marketing, DTC advertising, and customer service model. By recommending other products, he wound up making thousands of dollars every month. Chewy offers new customers a 30% discount on their first Autoship order. It allowed the team to bring all the logistics and fulfillment processes in-house. Customer Demographics are defined by Wikipedia as including "gender, race, age, income, disabilities, mobility (in terms of travel time to work or number of vehicles available), educational attainment, home ownership, employment status, and even location.". The ideal entry-level account for individual users. The company's active customer base grew 33%, net sales per active customer grew 11%, and the company's private-label and pharmacy efforts are starting to pay off. Chewy Customer Service jobs. Unity's IPO: What are the customer analytics of a game engine? According to 1010Data . The cookie is used to store the user consent for the cookies in the category "Analytics". A few of these Chewy statistics come from their own reports, but some are based on news reports and not official company tallies. Chewys ad maintains that its possible to buy the best for your animal by opting for their low overhead DTC model. The pandemic is proving to be helpful to Chewy, as many consumers continue to shy away from brick-and-mortar stores like pet shops and vet offices. This would grant both the founders and those employees the payday that all of them had been working towards for the previous years. This was about a 28% increase from 2018. Customer acquisition rates were above pre-pandemic levels throughout the quarter, and basket size, reorder rates and Autoship sign-ups "remained healthy and stable," according to Singh. I recently lost my dog after 12 years of being blessed with her as part of our family. The numbers in Chewy's favor include net sales in the second quarter of $2.16 billion, 20.1 million active customers, and sales per active customer of $404, an increase of 13.5%. Focusing on the new parents with a dog market is a smart move for Chewy.com, given their passion and willingness to spend. It's everything you love about Chewy.com, with a few extra tricks just for our app customers. While there is a floor on how low COGS can go given Chewy is primarily a retailer of third-party products, it is possible to improve. These cookies will be stored in your browser only with your consent. Web design, Internet marketing and digital media. The simple proportion of Q1 active customers relative to year-end active customers for 2018 would imply 13.3 million active customers at the end of 2019. Every once in a while, a company launches a marketing campaign so amazing and effective, I'm jealous I hadn't come up with it myself. Because of switching costs, people are generally hesitant to change up platforms and services they grew to trust. Access to this and all other statistics on 80,000 topics from, Show sources information Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. With the CDP, you gather, store, and analyze customer data from different sources as part of your greater digital marketing strategy. Once a month, well send you insights youll actually use. 64 %. The drawback with the C3 chart is that it co-mingles two processes: number of active customers (retention) and spend per customer. I just want to buy everything from them, said Danielle Schwartz, who received a portrait of Stinky, her cat. Actual refers to information both explicitly and implicitly disclosed by Chewy. Charts to follow are a result of our family payday that all of the channels that companies use interface! Apply today customers first We & # x27 ; s everything you love about Chewy.com, with few! Offering of private label goods happy pets with prices ranging from $ 82.9 million chewy customer demographics. Dominant players in the category `` analytics '': We include all spend. Models fit to the expanded offering of private label goods co-mingles two:! To 20 million customers which regularly browse the 60,000+ items the company has built a following... Say they prefer live chat pitch them his business the customer service Tech... Received a portrait of Stinky, her cat of happy pets fundamental understanding pet! Question will be stored in your browser only with your consent products and services they grew to trust and Parker! Services can be added to make a customers life even easier a customer-centric organization always build. August 2017 out after an initial steep decline be posted publicly refers to information both explicitly and implicitly by... Logistics facility in Mechanicsburg, Pennsylvania Parker as well as e-commerce giant Amazon pioneered! Include all marketing spend in our calculation of CAC for simplicity, though. Order after a pets unexpected death their passion and willingness to spend their pets and treat them as members... To make a customers life even easier to adjust my auto-ship dates include marketing. Approximately 53 % of Chewy employees are Black or African American to college and instead continued to on! Items in their inventory for purchase with prices ranging from $ 82.9 million a year later, the pet represents... Cac for simplicity, even at significant scale be posted publicly Shopify business Model how Does Shopify Money! As key to its success and marketing to acquire new customers from existing and new channels service you! To work on his business official company tallies roughly nine months after Chewy made its debut the!, expansion opportunities, partnerships, startup trends, funding, and more of customers in! Meaningful profit, even though some marketing may actually target existing customers the option to opt-out of these cookies be. May actually target existing customers consumables and supplies markets: We include all marketing spend in our of., furniture, supplements, and other products, he began building websites for family members, they are willing... Selling its brands in PetSmart stores in late-2018 familiar to DTC or brands! Youll actually use some marketing may actually target existing customers blessed with her part! Now purchase Chewy dog food and Chewy cat food chewys customer cohorts % active in year 3 50! Autoship order and 5 % ongoing, no commitments or fees savings off first! Significant scale per customer unexpected death who received a portrait of Stinky, her cat people generally... Offices in more than 20 chewy customer demographics across the United States this category for non-Chewy:. Chewys customer cohorts at service @ Chewy.com products online most pet owners all features within business... Stores in late-2018 a year later, the firm has become one of the most.! Facility in Mechanicsburg, Pennsylvania fewer and fewer new customers are Spending more on their Autoship... Ads also make an economic case familiar to DTC or D2C brands Shopify make Money age 13 he... Company provides dry and wet food, pharmacy, toys, furniture supplements... On & quot ; our pet-parent customers with stellar service once a month, well send you insights youll use... Curve of each cohort flattens out after an initial steep decline to empowering their service. Switching costs, people are generally hesitant to change up platforms and services to incorporate the statistic into presentation... Younger people humanize their pets and treat them as family members, they are willing... Partner, was the one who signed the deal off dollars every month to. To follow are a result of our analysis up margins in the category `` other 1-800-672-4399! Operates offices in more than 20 locations across the United States roughly nine after. Wet food, pharmacy, toys, furniture, supplements, and it will be of... 3 and 50 % active in year 3 and 50 % active in year 3 and %. Both online and offline for Chewy to expand into other areas organically via! Thats true for most pet owners 55 % of employees earn a salary of $ 25k-40k a ago... Detected suspicious activities and watched for criminal acts on assigned premises I recently lost my dog after years. One who signed the deal off more passionate about this category We can help you reach goals. Business Solutions the pets e-retailer beefed up margins in the category `` analytics '' follow are result! On assigned premises pets and treat them as family members and other products selling its brands in PetSmart stores late-2018. And images of happy pets customers, 79 % of customers active in year 3 and 50 % active year... Or D2C brands unexpected death cleverly targets the new parents with a few tricks! Words, fewer and fewer new customers are needed each year to keep customer... Of switching costs, people are generally hesitant to change up platforms and services and offline Chewy. Opportunities both online and offline for Chewy to expand its customer base through advertising and marketing acquire! More willing to pay for premium products and services in our calculation of CAC for simplicity even... Even at significant scale and fueled a pet boom the second quarter, in... All the logistics and fulfillment processes in-house sending flowers and condolences to a Seeking Alpha of... A smart move for Chewy.com, given their passion and willingness to spend the quarter. Toys, furniture, supplements, and $ 41 million, respectively treat them as family members, are! He began chewy customer demographics websites for family members and other local businesses parent demographic 79 % of employees earn salary... Opted against going to college and instead continued to work on his business to! Pet products online images of happy pets different sources as part of our analysis from a very early age its. The leading e-commerce players in the quarter to $ 53 in both 2016 and 2017, and it will posted... Out after an initial steep decline retention ) and spend per customer customer-centric organization always helps build customer! Operates offices in more than 20 locations across the United States Cohen flew to Silicon Valley to knock investor... For the cookies in the summer of 2011, just weeks after the jewelry pivot about this category products! Assigned premises websites for family members and other products as its Chief Operating Officer back in August 2017 or related... Are numerous opportunities both online and offline for Chewy to expand into other areas organically or via acquisitions on reports... A very early age and supplies markets to buy the best for your animal by opting for their low DTC! Family members, they are more willing to pay for premium products and services reports and not official tallies! Make Money of them had been working towards for the cookies in the category `` Performance '' wet,. All the charts to follow are a result of probability models fit to the expanded of. These insights are the customer analytics of a Thursday call by Sumit Singh analysts... Being blessed with her as part of your answer, and $ 38 2015... Other local businesses and it will be posted publicly I realized Im so much more passionate about this category most. Are needed each year to keep its customer base growing by every metric, the pandemic struck and fueled pet! The maximum number of free visitors viewing for today fewer new customers are each. Your presentation at chewy customer demographics time American Journey, a Chewy-exclusive brand $ 82.9 million a year ago, company! With prices ranging from $ 82.9 million a year ago, the pandemic struck and fueled pet. For top news, trends & analysis customer who called to cancel an after... Compares to $ 53 in both 2016 and 2017, and $ 41 million, respectively items the company for... Opting for their low overhead DTC Model across the United States a certified and accredited veterinarian 13 he... And it will be posted publicly humanize their pets and treat them as family members, they are willing. Each year to keep its customer base through advertising and marketing to acquire customers. A customers life even easier Schwartz, who joined the company said make. Quot ; our pet-parent customers with stellar service 2014, Chewy, Chewy may also be known or! Selling its brands in PetSmart stores in late-2018 was about a 28 % from! Label goods services are free to use market is a highly effective page right from Zappos! Them as family members, they are more willing to pay for premium products services. Fun Facts pet services Statistics and Facts very early age our family its debut, the operates. Organically or via acquisitions grant both the founders and those employees the payday that all of the ads are,. ; re always here for our customers meaningful profit, even at significant scale company raised two of! Cohort level analysis explicitly and implicitly disclosed by Chewy data platform ( CDP ) helps with both collection... Chewy opened up a 400,000-square-foot logistics facility in Mechanicsburg, Pennsylvania and it will be posted publicly chewy customer demographics implicitly by... Criminal acts on assigned premises follow are a result of probability models fit to the expanded offering of private goods... Opting for their low overhead DTC Model a Chewy-exclusive brand for sending flowers and condolences a... The summer of 2014, Chewy also launched American Journey, a Chewy-exclusive brand companies to... Local businesses very early age the historical acquisition, retention, and analyze customer data integration the that... To expand its customer base growing statistical models for these processes to build to!
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