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Wayfair doubles customer base in a year

Wayfair wall logo

Home furnishings e-tailer Wayfair, headquartered in Boston, has announced its Q2 2015 results, noting y-o-y growth in direct retail revenue of 80% to $440.3m, and net revenue growth of 66.4% to $491.8m. The global operator now boasts four million active customers worldwide, up 53.5% y-o-y.

Gross profit was recorded as $120.8m – 24.6% of total net revenue, compared to 23.2% of total net revenue in the same quarter last year, and 24.2% in the previous quarter.

“As we continue to deliver a truly differentiated retail experience from start to finish, we are seeing tremendous growth and momentum across the business,” says Niraj Shah, CEO, co-founder and co-chairman of Wayfair. “From new, exclusive brand offerings to our ongoing commitment to attentive and knowledgeable customer service, Wayfair is delivering a shopping experience that exceeds customers’ expectations. At the same time, we are benefiting from a strategic shift in our advertising plan that allows us to attract higher value customers with a propensity for repeat purchases. We remain excited about the market opportunity ahead of us.”

Net revenue and orders per customer increased, as did the percentage of the total accounted for by repeat customers.

Source : Paul Farley - Furniture News

13 August 2015

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