Wayfair - Statistics & Facts

Wayfair is one of the largest online-only home goods retailers in the world, with almost 17,100 employees and more than 20 million active customers. Based in Boston, Massachusetts, the company was founded in 2002 by entrepreneurs Niraj Shah and Steve Conine under the name of CSN stores. Later in 2011, the company was rebranded with its current name, Wayfair. Upon initial success in its domestic market, the company started to expand to international markets in 2007. Despite that, the United States still remain the largest market for the company, as about 85 percent of Wayfair’s annual revenue was generated in the country in 2019. Wayfair’s annual revenue jumped from just over 600 million U.S. dollars in 2012 to more than 9.1 billion U.S. dollars in 2019. Direct retail is by far the most profitable segment for the home goods e-retailer. That same year, the company delivered approximately 37.6 million orders, up from 5.2 million orders in 2014.

Wayfair is one of the leading retailers in the booming e-commerce market in the United States. Retail e-commerce sales in the country are forecast to jump from 343 billion U.S. dollars in 2019 to about 476 billion U.S. dollars in 2024. Whereas Wayfair ranks as one of the fastest-growing e-commerce retailer in the United States, there is no question that Amazon is the undisputed leader of the online shopping market. Amazon is also the leading web-only merchants in the United States; Wayfair ranked second on that list. With about 8.8 billion U.S. dollars in furniture and appliances e-commerce sales in 2018, Amazon is the most popular online store in that segment as well. Homedepot.com ranked second, followed by Wayfair.com with approximately 3.77 billion U.S. dollars in sales revenue of furniture and appliances in 2018.

Consumers turn to e-commerce and online retailers for different products; some of the most popular online shopping categories worldwide include fashion-related products, travel products and services, event tickets, as well as furniture, decor and tools. As of 2018, approximately 19 percent of internet users have purchased online furniture and home goods in the past year. In the United States, furniture and home furnishings sales accounted for 12.3 percent of the total retail e-ecommerce sales in 2019. Revenue from furniture and home furnishings e-commerce also shows optimistic forecasts, with revenue projections of 45.1 billion U.S. dollars in 2020 to over 54 billion U.S. dollars in 2024. However, when shopping for furniture, only 12 percent of U.S. online customers prefer to shop for furniture online, highlighting the yet-untapped market potential.

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