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  • Watch your expenses
  • Delight your customers
  • Be the person others want to follow
  • Take the long view
  • Trust yourself
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[-] epicsninja@lemmy.world 7 points 11 months ago

Wasn't the company running at a massive deficit until it was sold?

[-] Xanthrax@lemmy.world 11 points 11 months ago* (last edited 11 months ago)

It was! I got that information from a biased source though, I worked with Petco corporate.

The idea is: you operate at a loss to undercut your competitors, in hopes you'll attract long time customers. Eventually, they either ramp up costs, or legitimately have a way to cut down the costs of operations. Usually, it's the latter.

If I remember correctly, most of their money was also spent on marketing, which honestly worked. We'll see how that continues to play out, though.

this post was submitted on 27 Nov 2023
32 points (84.8% liked)

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