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.
