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E-commerce Leader Reports 55% Annual Revenue Growth as Shoppers Move Online to Buy Home Furnishings
BOSTON, Jan. 31, 2014 /PRNewswire/ -- Wayfair, the largest online retailer of home furnishings and decor, today reported record year-end results for 2013. The ecommerce leader hit $915 million in revenue to close the year with an annual revenue growth rate of 55 percent and order intake exceeding $1 billion. The company's portfolio of home brands experienced steady growth throughout 2013 capped off by strong holiday sales in the fourth quarter as an increasing number of shoppers sought the selection, convenience and service that Wayfair delivers in the home goods market.
"We were expecting impressive sales growth in 2013 and are pleased to see our model is working to drive increased brand awareness, customer acquisition and retention," said Niraj Shah, CEO and co-founder of Wayfair. "We are focused on delivering an exceptional shopping experience specifically geared to home goods and will continue to address the unique requirements of this market category with innovation across all aspects of our business."
Over the past year, Wayfair launched several new shopping tools to help shoppers discover just the right items for their homes from a selection of more than seven million products. The company also continued to build its offering of inspirational content and ideas through media partnerships with This Old House, Coastal Living and Sunset.
"When I arrived at Wayfair three months ago, I knew I was joining an amazing team leading an incredible growth engine," added Michael Fleisher, CFO of Wayfair. "Our full year results and 55% growth rate prove that point and the sheer scale of our business sets it apart as a true leader in the emerging class of ecommerce winners."
Wayfair heads into 2014 anticipating continued growth and opportunity across the business and its portfolio of home brands including Wayfair.com, Joss & Main, AllModern and DwellStudio. Key initiatives in the coming year will include the development of new lifestyle brands and the launch of proprietary product lines.
Wayfair.com offers a zillion things home – the largest selection of home furnishings and decor across all styles and price points. With an unparalleled selection of more than seven million home items from 12,000 brands, Wayfair.com helps people find the perfect product at the right price. Our unparalleled selection and superior customer service coupled with the convenience of online shopping, makes it easier than ever before to find exactly what you want for your home. Other e-commerce sites within the Wayfair.com brand portfolio include AllModern.com, the leading destination for original modern design, Joss & Main, the fastest growing private sale site for the home, and DwellStudio, a lifestyle retailer known for groundbreaking design and impeccable quality in modern home furnishings.
Headquartered in Boston, Massachusetts, Wayfair.com employs more than 1,500 people in its eight global locations of Boston, New York, Ogden, Utah, Hebron, Kentucky, Galway, Ireland, London, Berlin and Sydney. The company was named one of America's Most Promising Companies by Forbes Magazine.
For more information, please visit www.wayfair.com.
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