From 2002 to 2011, Ninaj Shah and Steve Conine launched over 200 niche online stores, such as cookware.com, luggage.com and strollers.com, under the CSN Stores business.
At the time, this was a smart way of doing business. Internet users in the 2000s gravitated towards websites that were named after the specific product they were looking for, and they tended to perform better in search rankings.
But, as we entered the 2010s, things started to change. Amazon had shifted from selling books and buying single product websites to the “Everything store”, like an online Walmart. CSN Stores followed suit in 2011, launching Wayfair.
Wayfair is the amalgamation of all of the stores launched by Shah and Conine in the first decade of the company’s existence.
It did not, and still does not, manufacture its own products. Instead, it offers placement on their website and app to over 11,000 suppliers, which have uploaded over 14 million items to the platform.
By 2014, the move to a single platform had paid off, with Wayfair becoming the largest online-only home furniture retailer in the United States. In 2022, it was responsible for about 1.5% of all e-commerce sales in the country.
One of the ways Wayfair became the number one home furniture seller is through “Way Day”, which similar to Amazon Prime Day and Alibaba’s Singles Day is an event where thousands of items are put on sale, sometimes at extreme discounts.
Wayfair, like most online retailers, saw a huge boom in revenues during the pandemic. Revenues increased by 54 percent in 2020 and usage by 46 percent, higher than the two years preceding it. In 2021, it has struggled to maintain the same volume.
We have collected data and statistics on Wayfair. Read on below to find out more.
Wayfair key statistics
- Wayfair generated $12.2 billion revenue in 2022, a decline of 10.9% and the second year of annual decline
- It posted a net loss in 2022 of $130 million
- Wayfair had 24 million active buyers in 2022, a large drop on the 31.1 million active buyers in 2021
Wayfair overview
| Title | Title 2 |
|---|---|
| Launch date | August 2002 |
| HQ | Boston, Massachusetts |
| People | Niraj Shah (CEO, co-founder), Steve Conine (co-founder) |
| Business type | Public (NYSE: W) |
| Industry | Shopping |
Wayfair revenue
Wayfair has had two years of annual revenue decline. In 2020, its revenues increased by 54%, the highest percentage increase since 2015.
Wayfair quarterly revenue 2014 to 2022 ($mm)
Wayfair annual revenue 2012 to 2022 ($bn)
| Year | Revenue ($bn) |
|---|---|
| 2012 | 0.6 |
| 2013 | 0.9 |
| 2014 | 1.3 |
| 2015 | 2.2 |
| 2016 | 3.3 |
| 2017 | 4.7 |
| 2018 | 6.7 |
| 2019 | 9.1 |
| 2020 | 14.1 |
| 2021 | 13.7 |
| 2022 | 12.2 |
Source: Company data
Wayfair profit
Wayfair posted its first profitable year in 2020, but dropped back into the negatives once again in 2022, posting a $130 million annual loss.
Wayfair annual net income 2012 to 2022 ($mm)
| Year | Net income/loss ($mm) |
|---|---|
| 2012 | -33 |
| 2013 | -41 |
| 2014 | -150 |
| 2015 | -77 |
| 2016 | -194 |
| 2017 | -245 |
| 2018 | -504 |
| 2019 | -985 |
| 2020 | 185 |
| 2021 | -131 |
| 2022 | -130 |
Source: Company data
Wayfair users
Wayfair’s active users have been in steady decline since Q1 2021, with 22.1 million in Q4 2022.
Wayfair quarterly active buyers 2017 to 2022 (mm)
Wayfair annual active buyers 2017 to 2022 (mm)
| Year | Users (mm) |
|---|---|
| 2017 | 9.5 |
| 2018 | 12.8 |
| 2019 | 17.8 |
| 2020 | 26 |
| 2021 | 31.1 |
| 2022 | 24 |
Note: Values are taken in Q2 of each respective year. Source: Company data
Wayfair orders delivered
Wayfair annual orders declined even more in 2022 to 40 million. Order volume peaked, like most Wayfair metrics, in 2020 with 61 million orders.
Wayfair annual orders delivered 2013 to 2022 (mm)
| Year | Order volume (mm) |
|---|---|
| 2013 | 3.3 |
| 2014 | 5.2 |
| 2015 | 9.1 |
| 2016 | 14 |
| 2017 | 19.4 |
| 2018 | 28 |
| 2019 | 37.6 |
| 2020 | 61 |
| 2021 | 51 |
| 2022 | 40 |
Source: Company data
Wayfair average order value
Wayfair’s average order value is one of the few metrics to increase from 2021 to 2022, rising to $305.
Wayfair annual average order value ($)
| Year | Average order value ($) |
|---|---|
| 2014 | 204 |
| 2015 | 222 |
| 2016 | 203 |
| 2017 | 229 |
| 2018 | 227 |
| 2019 | 226 |
| 2020 | 223 |
| 2021 | 269 |
| 2022 | 305 |
Source: Company data
Wayfair e-commerce US market share vs competitors
Wayfair is responsible for about 1.5% of e-commerce sales in the United States, making it the tenth largest e-commerce retailer in the country.
Wayfair FAQ
How many Wayfair users purchase through the app?
56.7% of Wayfair orders are completed through the app
How many new items does Wayfair add a month?
Wayfair adds about 100 new items on its website each month
How many monthly visits does the Wayfair.com website receive?
In February 2021, Wayfair.com received 91.8 million views. Wayfair.co.uk received 15.6 million and Wayfair.ca 11.5 million
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