From 2002 to 2011, Ninaj Shah and Steve Conine launched over 200 niche online stores, such as cookware.com, luggage.com and strollers.com, under the CSN Stores business.
At the time, this was a smart way of doing business. Internet users in the 2000s gravitated towards websites that were named after the specific product they were looking for, and they tended to perform better in search rankings.
But, as we entered the 2010s, things started to change. Amazon had shifted from selling books and buying single product websites to the “Everything store”, like an online Walmart. CSN Stores followed suit in 2011, launching Wayfair.
Wayfair is the amalgamation of all of the stores launched by Shah and Conine in the first decade of the company’s existence.
It did not, and still does not, manufacture its own products. Instead, it offers placement on their website and app to over 11,000 suppliers, which have uploaded over 14 million items to the platform.
By 2014, the move to a single platform had paid off, with Wayfair becoming the largest online-only home furniture retailer in the United States. It was responsible for about 1.5% of all e-commerce sales in the country.
One of the ways Wayfair became the number one home furniture seller is through “Way Day”, which similar to Amazon Prime Day and Alibaba’s Singles Day is an event where thousands of items are put on sale, sometimes at extreme discounts.
Wayfair, like most online retailers, saw a huge boom in revenues during the pandemic. It has struggled to maintain the same revenue and volume of orders since.
We have collected data and statistics on Wayfair. Read on below to find out more. Need more insights? Check out our retail app report.
Wayfair Key Statistics
- Wayfair generated $12 billion revenue in 2023, a decline of 1.6% and the third year of annual decline
- The US was responsible for $10.4 billion of that revenue
- Wayfair posted a net loss in 2023 of $738 million
- Wayfair had 21.8 million active buyers in 2023, a large drop on the 31.1 million active buyers in 2021
- 41 million orders were made on Wayfair in 2023
Retail App Report 2024
Want to learn more about the retail app industry? In our Retail App report, we cover financials, market share, usage, downloads and demographics, with regional and country level breakdowns.
Wayfair Overview
| Title | Title 2 |
|---|---|
| Launch date | August 2002 |
| HQ | Boston, Massachusetts |
| People | Niraj Shah (CEO, co-founder), Steve Conine (co-founder) |
| Business type | Public (NYSE: W) |
| Industry | Shopping |
Wayfair Revenue
Wayfair has had three years of annual revenue decline. It reported $12 billion revenue in 2023.
Wayfair revenue 2014 to 2024 ($mm)
Wayfair revenue 2012 to 2023 ($bn)
| Year | Revenue ($bn) |
|---|---|
| 2012 | 0.6 |
| 2013 | 0.9 |
| 2014 | 1.3 |
| 2015 | 2.2 |
| 2016 | 3.3 |
| 2017 | 4.7 |
| 2018 | 6.7 |
| 2019 | 9.1 |
| 2020 | 14.1 |
| 2021 | 13.7 |
| 2022 | 12.2 |
| 2023 | 12 |
Sources: Retail App Report, Company data
Wayfair Profit
Wayfair posted its first profitable year in 2020, but has been in negatives since, reporting $738 million loss in 2023.
Wayfair net income 2012 to 2023 ($mm)
| Year | Net income/loss ($mm) |
|---|---|
| 2012 | -33 |
| 2013 | -41 |
| 2014 | -150 |
| 2015 | -77 |
| 2016 | -194 |
| 2017 | -245 |
| 2018 | -504 |
| 2019 | -985 |
| 2020 | 185 |
| 2021 | -131 |
| 2022 | -1331 |
| 2023 | -738 |
Sources: Retail App Report, Company data
Wayfair Users
Wayfair’s active users have been in steady decline since early 2021, with 21.8 million actives in 2023.
Wayfair active buyers 2017 to 2024 (mm)
Wayfair active buyers 2017 to 2023 (mm)
| Year | Users (mm) |
|---|---|
| 2017 | 9.5 |
| 2018 | 12.8 |
| 2019 | 17.8 |
| 2020 | 26 |
| 2021 | 31.1 |
| 2022 | 24 |
| 2023 | 21.8 |
Note: Values are taken in Q2 of each respective year. Source: Company data
Wayfair Orders Delivered
Wayfair annual orders increased in 2023 by one million. Order volume peaked, like most Wayfair metrics, in 2020 with 61 million orders.
Wayfair orders delivered 2013 to 2023 (mm)
| Year | Order volume (mm) |
|---|---|
| 2013 | 3.3 |
| 2014 | 5.2 |
| 2015 | 9.1 |
| 2016 | 14 |
| 2017 | 19.4 |
| 2018 | 28 |
| 2019 | 37.6 |
| 2020 | 61 |
| 2021 | 51 |
| 2022 | 40 |
| 2023 | 41 |
Source: Company data
Wayfair Average Order Value
Wayfair’s average order value was $292 in 2023, a slight drop from the $305 in 2022.
Wayfair average order value 2014 to 2023 ($)
| Year | Average order value ($) |
|---|---|
| 2014 | 204 |
| 2015 | 222 |
| 2016 | 203 |
| 2017 | 229 |
| 2018 | 227 |
| 2019 | 226 |
| 2020 | 223 |
| 2021 | 269 |
| 2022 | 305 |
| 2023 | 292 |
Source: Company data
Wayfair vs Competitors: Market Share
Wayfair is responsible for about 1.5% of e-commerce sales in the United States, making it the tenth largest e-commerce retailer in the country.
Ecommerce market share in United States 2023 (%)
Wayfair FAQ
How many Wayfair users purchase through the app?
56.7% of Wayfair orders are completed through the app
How many new items does Wayfair add a month?
Wayfair adds about 100 new items on its website each month
How many monthly visits does the Wayfair.com website receive?
In February 2021, Wayfair.com received 91.8 million views. Wayfair.co.uk received 15.6 million and Wayfair.ca 11.5 million
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