Online home furnishings retailer Wayfair posted strong second quarter earnings last week.
- Net revenue from merchandise sales topped $US490 million, an increase of 66% year-over-year compared to the same quarter a year ago.
- The number of people who have purchased something from Wayfair in the past twelve months increased 54% to 4 million in the second quarter.
The staggering growth of the overall furniture e-commerce industry has helped propel companies like Wayfair.
Wayfair’s CEO Niraj Shah said during that earnings call that the company’s growth streak is indeed a result of “the market opportunity, and rapidly changing and favourable dynamics of how customers purchase home goods.”
This year, we estimate Americans will spend $US32 billion on furniture, surpassing electronics as the third-largest e-commerce category in the US.
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