From Home Furnishing Business
Wayfair Reports 58% Jump in Direct Retail Sales During Holiday Weekend
Online retail giant Wayfair (NYSE:W) reported a 58 percent increase year-over-year in direct retail gross sales for the five-day peak shopping period of Thanksgiving Day through Cyber Monday.
While Cyber Monday was the peak sales day of the holiday weekend, Black Friday marked the highest growth day.
“As expected and as in past years, the Thanksgiving holiday weekend was an exceptionally strong sales period for us. We anticipated the continued shift of dollars online and were well positioned to capture that growth on Black Friday and throughout the weekend with an unprecedented number of flash deals and holiday promotions,” said Niraj Shah, CEO, co-founder and co-chairman.
“We see the overall cadence of holiday shopping changing with online becoming the clear leader throughout the holiday weekend, driving outsized growth. As the broader shift from brick and mortar to online shopping continues to gain momentum, Wayfair is capturing a leading market share in the home goods category,” Shah added.
Throughout the peak holiday weekend, Wayfair customers shopped for every room of the house, purchasing everyday essentials such as bedding and kitchenware as well as major furnishings including sofas, recliners and dining sets.
On Cyber Monday alone, customers purchased a Christmas tree every 10 seconds, a sofa every nine seconds, a mattress every six seconds, a barstool every five seconds, and a rug approximately every one and a half seconds.
This year, Wayfair unveiled exclusive collections of seasonal décor with the expansion of Wayfair Basics, offering an array of options for tree skirts and decorative lighting as well as holiday trees spanning multiple styles and colors.
In addition to extensive deals sitewide, Wayfair also launched its first-ever MyWay Members-Only Sale, offering exclusive prices with discounts of up to 75 percent, which runs through November 30.
“During the holiday season, home is top of mind as consumers prepare their homes to welcome guests and for celebrations with family and friends. Throughout the entire peak shopping weekend, our customers took advantage of the exceptional shopping experience we offer throughout the entire year, from stocking up on seasonal décor to purchasing everyday household essentials,” added Shah. “This year, we provided even more value to our customers, offering fast, free shipping with no order minimums and launching thousands of flash sales kicking off on Black Friday and running throughout the entire weekend.”