Retail

Wayfair Plans To Open Pop-Up Shops

Wayfair

In order to create an interactive brand experience, Wayfair is planning on opening two pop-up shops at the beginning of November: One of the stores will be located at the Natick Mall in Massachusetts and the other will be at the Westfield Garden State Plaza in New Jersey, the company said in an announcement.

“We are bringing the Wayfair brand directly to shoppers in a completely new format this holiday season,” Wayfair Chief Product and Marketing Officer Ed Macri said. “Building on the success of our television advertising and direct mail, this pop-up experience is yet another way we are deepening engagement with customers beyond our online presence.”

At the location, the company plans to have home design experts and customer service representatives to recommend products as well as answer questions. In addition, customers will be able to look through 100 swatches of fabric to make custom furniture and learn about home improvement projects through a “How-To” station. At the same location, customers can make orders for next-day or two-day delivery as well as buy gift cards and shop a selection of items that are featured in the pop-up shop.

Wayfair reported record-breaking revenue during the second quarter, when the company launched its first-ever online Way Day sale and continued in its efforts to add new technology to its logistics and supply chain network.

Wayfair reported its direct retail net revenue, which measures sales going through the company’s online site, rose about 49 percent to $1.6 billion, the largest year-over-year increase in the company’s history. Quarterly revenue beat Wall Street estimates, leading shares higher in early afternoon trading. Shares of Wayfair were up 6.9 percent at $114.62.

Sales were fueled by its special Way Day single-day sale during April, which the company said was the first-ever retail holiday sale for the home goods category and set a company record for single-day sales. Wayfair reported a number of positive metrics during the quarter, as active customers in its direct retail business increased 34 percent from the year-ago quarter to 12.8 million. Last twelve months net revenue per active customer rose 9.5  percent to $440 by the end of June.

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The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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