Wayfair to Open First Brick-and-Mortar Store Next Month
America ı By Gabrielle Seunagal
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Founded in 2008, Wayfair's since made a name for itself as a destination for online furniture shopping. Customers have praised the ease, quick delivery, and optimal service that Wayfair provides.
The company's modest prices and fairly frequent sales also earned it popularity among the public. Whether you're looking to completely refurbish a home or simply replace a couple of pieces, Wayfair has come in handy for millions.
The company services not just consumers in the United States, but also across the United Kingdom, Canada, Germany, and Ireland. Now, Wayfair is gearing up to reach even higher heights. Next month, the furniture business will open its very first brick-and-mortar store.
What to know about shopping at Wayfair in person
Wilmette, Illinois is hosting Wayfair's first physical location in Edens Plaza. Alongside the furniture store comes a restaurant called The Porch. Starting on Thursday, May 23, customers can come into the brick-and-mortar store and shop for furniture as they please.
This marks a new turn of events in the retail world, as many physical stores have begun shutting down. Many of the closures come as a result of increasingly popular online shopping venues like Amazon. Though inflation and changes in consumer spending habits also played a role in the demise of many brick-and-mortar locations.
All things considered, Wayfair clearly believes its latest venture will pan out differently. The furniture company's first physical store likewise provides job openings for retail workers seeking new opportunities.
Trouble in the online world?
According to GlobalData Retail analyst Neil Saunders, Wayfair's lately hit some snags with the profitability of its online sales. Furniture stores, in particular, require frequent advertising to remain afloat - more so than other retail companies - since most people don't purchase furnishings very often.
A brick-and-mortar location, in and of itself, will definitely stand out as a reminder of Wayfair's presence. However, the company's sales have dipped recently.
Last year, Wayfair's yearly sales declined by 1.8%, taking the business down to $12 billion. This follows the company's efforts to cut costs via furloughing 1,650 employees.
Amid the upheaval, Niraj Shah, Wayfair's CEO, conceded that the business acted hastily when it hired new staff during the economic boom that COVID brought. While many other companies suffered during this period, COVID led to a temporary surge in folks making online purchases.
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