Wayfair bets on brick-and-mortar with first store
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Like many of its newer online competitors, Wayfair is doubling down on brick-and-mortar by opening its first permanent store. The Natick, Massachusetts-based outpost will open its doors to shoppers this fall.
The store will offer a “new way” for consumers to shop the brand, according to Niraj Shah, CEO, co-founder and co-chairman of Wayfair. On a recent conference call with analysts, Shah compared the value of a storefront to the value of a TV ad that tells a story in a way that online text ads cannot. “We think stores and in-person interaction, considering the breadth of what we offer and the high-touch service experience we offer, we think there are certain things you can do in a store,” he said on the call.
Wayfair, which generated $6.8 billion in net revenue last year, is in good company. A host of direct-to-consumer retail startups are expanding by opening their first stores as customers expect brands to be able to meld the online experience with a physical shop. Wedding company Zola is currently running a pop-up shop in New York City through April, while lingerie seller Lively and sneaker brand Greats both opened stores last year.
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