Customers Came to Wayfair to Save on Vast
Selection of Items for the Home
Wayfair Inc. (NYSE:W), one of the world’s largest destinations
for the home, today announced strong results for the five-day peak
holiday shopping period between Thanksgiving and Cyber Monday,
including a low single digit sales increase in the U.S. compared to
the same time period in 2021. Customers turned to Wayfair
throughout November for their home needs in response to a robust
offering, including in-stock availability, speed of delivery, and
price value. Wayfair has ongoing, exciting seasonal savings through
the end of the year, including 12 Days of Markdowns and its End of
Year Clearance, as well as Flash Deal Friday events throughout
December.
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Consumers shopped for every room of the
home this holiday season (Photo: Business Wire)
“As we continue to drive customer and supplier loyalty, this
important five-day shopping period was a success, and we are
excited to see order growth improving as prices get sharper,” said
Niraj Shah, CEO, co-founder and co-chairman, Wayfair. “In fact,
leading up to Cyber Five, our November year-over-year revenue
trends strengthened relative to the down 10 percent quarter-to-date
update we shared on our recent conference call, with the Cyber Five
period itself comping flat for the company.”
Black Friday was the biggest sales day. In addition, repeat
customers accounted for 73 percent of holiday orders for the
five-day period, and hundreds of thousands of new customers ordered
from Wayfair for the first time.
Shah continued, "We know our customers are being more discerning
right now, and we’ve been focused on partnering with our suppliers
to exceed their expectations. With the pandemic period's acute
scarcity of goods behind us, the strength of our platform model is
again showing through in great value, strong selection, and fast
delivery. We’re confident that our reinvigorated customer offering
- in combination with our robust and ongoing efforts around cost
control - position Wayfair to succeed in any environment.”
During the five-day period, consumers shopped for every room in
the home, taking advantage of incredible deals to invest in new
furniture and decor, stock up on home essentials, and ready their
homes for a return to bigger holiday celebrations. Customers
enjoyed Wayfair’s exceptional service, specialized expertise and
fast, seamless delivery.
● Feeling at Home for the Holidays: Purchasing everything
from beds, mattresses and nightstands to down comforters and sheet
sets, consumers are more focused than ever on making their holiday
guests feel right at home. On Black Friday, shoppers purchased a
piece of bedding from Wayfair every five seconds. Products that
make for easy cleanup were also top of mind this year, with
shoppers taking home washable rugs and cordless vacuums, like the
top-selling Dyson V8 Cordless Vacuum. Wayfair shoppers also updated
their living spaces, purchasing everything from sectional sofas and
coffee tables to light fixtures, window treatments and area rugs.
Between Thanksgiving and Cyber Monday, shoppers purchased enough
rugs to cover more than 75,000 soccer fields.
● A Seat at the Table for Everyone: Consumers took
advantage of Wayfair’s Cyber Weekend deals to prepare for a crowd.
Extendable dining sets were popular, alongside dining hutches, bar
carts, and bar stools as hosts planned for larger gatherings this
year. In fact, shoppers bought enough barstools to line the entire
Las Vegas strip over four times. Shoppers also refreshed their
tablescapes, snapping up flatware, wine glasses, tablecloths and
more. Best-sellers included Riedel Wine Glasses, Saro Tablecloths
and Portola Flatware from Lenox as well as festive options like the
Spode Christmas Tree Dinnerware Set.
● The Heart of the Home: Perfect for gifting, kitchen
gadgets such as immersion blenders, pressure cookers and espresso
makers spiked in popularity. Top-sellers included the KitchenAid
Dual Convection Toaster Oven and an espresso maker by Cuisinart.
Rolling kitchen carts added valuable counter space to many kitchens
just in time for hosting and even the kids got in on the fun, with
play kitchens growing in popularity this year.
● Home Improvement: Consumers took advantage of
incredible savings to tackle home improvement projects. On Black
Friday alone, customers purchased a vanity or faucet every 13
seconds. Shoppers also purchased major kitchen appliances from top
brands spanning GE, Samsung, LG, Cafe and Frigidaire. Top-sellers
included the French-Door Refrigerator by GE and the Essa Kitchen
Faucet by Delta.
● A Change of Seasons: In preparation for winter, items
such as deck boxes and outdoor sheds were popular as many shoppers
plan to pack up their outdoor furniture, decor and recreation
items. Many shoppers also secured great deals on seasonal decor. On
Black Friday, Wayfair sold enough Christmas trees to add up to 845
Rockefeller Center trees. In particular, space-saving flocked trees
were a hit and many shoppers opted for multiple miniature trees to
fill all corners of their homes with holiday cheer. Life-size
nutcrackers were also a customer favorite, with shoppers often
buying two to greet visitors.
To shop holiday deals all season long and discover millions of
products for every room in the home, visit Wayfair.com or download
the Wayfair app.
About Wayfair
Wayfair is the destination for all things home: helping
everyone, anywhere create their feeling of home. From expert
customer service, to the development of tools that make the
shopping process easier, to carrying one of the widest and deepest
selections of items for every space, style, and budget, Wayfair
gives everyone the power to create spaces that are just right for
them.
The Wayfair family of brands includes:
● Wayfair: Everything home – for a space that’s all you.
● Joss & Main: The ultimate style edit for home.
● AllModern: All of modern, made simple.
● Birch Lane: A fresh take on the classics.
● Perigold: An undiscovered world of luxury design.
● Wayfair Professional: Just right for Pros.
Wayfair generated $12.4 billion in net revenue for the twelve
months ended September 30, 2022. Headquartered in Boston,
Massachusetts with operations throughout North America and Europe,
Wayfair employs approximately 17,000 people.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of federal and state securities laws. All statements
other than statements of historical fact contained in this press
release, including statements regarding our investment plans and
anticipated returns on those investments, our future customer
growth, our future results of operations and financial position,
including our financial outlook, profitability goals, available
liquidity and access to financing sources, our business strategy,
plans and objectives of management for future operations, expected
consumer activity and behaviors, including seasonal trends,
e-commerce adoption trends, developments in our technology and
systems and anticipated results of those developments, and the
impact of macroeconomic factors, including the novel coronavirus
(COVID-19) pandemic and the rise in inflation and interest rates,
and our response to such events, are forward-looking statements. In
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Forward-looking statements are based on current expectations of
future events. We cannot guarantee that any forward-looking
statement will be accurate, although we believe that we have been
reasonable in our expectations and assumptions. Investors should
realize that if underlying assumptions prove inaccurate or that
known or unknown risks or uncertainties materialize, actual results
could vary materially from our expectations and projections.
Investors are therefore cautioned not to place undue reliance on
any forward-looking statements. These forward-looking statements
speak only as of the date of this press release and, except as
required by applicable law, we undertake no obligation to publicly
update or revise any forward-looking statements contained herein,
whether as a result of any new information, future events or
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A list and description of risks, uncertainties and other factors
that could cause or contribute to differences in our results can be
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version on businesswire.com: https://www.businesswire.com/news/home/20221129006074/en/
Media Relations: Susan Frechette PR@Wayfair.com
Investor Relations: James Lamb IR@Wayfair.com
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