Wayfair Posts 55 Percent Revenue Increase for 2013
BOSTON-Online home retailer Wayfair reported total 2013 revenue of $915 million, 55 percent ahead of 2012's revenue, according to a company statement.
The company benefited from steady growth in its home brands throughout last year, along with strong holiday sales in the fourth quarter. Niraj Shah, CEO and Wayfair's co-founder, said the company had expected strong growth in sales, and added that its model is driving increased brand awareness, customer acquisition and customer retention. "We are focused on delivering an exceptional shopping experience specifically geared to home goods and will continue to address the unique requirement of this market category with innovation across all aspects of our business," Shah said.
Over the past year, Wayfair introduced several shopping tools intended toward helping shoppers identify the right items for their homes from its selection of more than 7 million products, the statement said.
The statement added that this year should bring continued growth across Wayfair's business and portfolio of home brands, including wayfair.com, Joss & Main, AllModern and DwellStudio. The company also plans to develop new lifestyle brands and launch proprietary product lines.