I’m going to assume that you’ve heard about Wayfair, the major e-commerce retailer for everything you need to furnish and decorate your home without spending a lot. The company has only sold products online since its inception in 2002, but that is going to change very soon.
Wayfair just announced that they will be opening their first brick-in-mortar store on May 23 in Wilmette, Illinois. This news comes as sales have been down due to many reasons, including inflation, which has impacted people’s shopping habits. Furniture is typically big-ticket items that most people aren’t purchasing very often these days, and Wayfair’s bottom line has been impacted by this trend.
The home company saw a 1.8% drop in its annual sales in 2023 and a net loss for the year. Sadly, Wayfair laid off over 3 thousands jobs since 2023 because of this slump in sales.
Hence why they are opening a physical store to try to entice shoppers in a new way. Wayfair is betting on the fact that customers like seeing and touching home products before purchasing, so having a storefront will help make that possible. The goal is to help drive sales, give Wayfair a more visible presence and direct shoppers to their e-commerce site.
If you live nearby, check out Wayfair’s first store and let us know what you think!
The post Wayfair is Opening Their First Store! appeared first on The Real Deal by RetailMeNot.
