Wayfair - Statistics & Facts

Wayfair is one of the largest online-only home goods retailers in the world, with over 12,100 employees and 15 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 86 percent of Wayfair’s annual revenue was generated in the country in 2018. Wayfair’s annual revenue jumped from just over 600 million U.S. dollars in 2012 to more than 6.7 billion U.S. dollars in 2018. Direct retail is by far the most profitable segment for the home goods e-retailer. That same year, the company delivered approximately 28 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, including digital services, are forecast to jump from 526 billion U.S. dollars in 2018 to about 893 billion U.S. dollars in 2022. 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 7.4 billion U.S. dollars in furniture and appliances e-commerce sales in 2017, and Amazon is the most popular online store in that segment as well. Homedepot.com ranked second, followed by Walmart.com. Wayfair ranked fourth, amounting approximately 2.6 billion U.S. dollars in sales revenue of furniture and appliances in 2017.

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 12.9 percent of the total retail e-ecommerce sales in 2018. This figure is forecast to increase to 14.4 percent by 2022. Revenue from furniture and home furnishings e-commerce also shows optimistic forecasts, with revenue projections of 65.1 billion U.S. dollars in 2018 to over 106 billion U.S. dollars in 2022. When shopping for furniture online, a large share of American homeowners expect the furniture store to offer affordable prices, have an attractive website and provide quick delivery service.

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