Revenue increased 11.9% in Q1 of 2015, to $17.26 billion compared with $15.42 billion in the year-ago period.
The home goods retailer will offer up to seven new sales each day.
Home goods and furnishings retailer Wayfair LLC, No. 50 in the Internet Retailer Top 500 Guide, has launched daily deals. Called “Daily Fair,” the program will release daily at noon Eastern time up to seven new sales. Wayfair says it will sell items at up to 70% off, with each item available for three days. Consumers can find the sales on Wayfair.com or via e-mail alerts.
“While we satisfy the shopper who knows exactly what he or she needs, we are also looking to engage the browsers and deal-seekers who enjoy the process of discovering great savings from a trusted source with the widest selection,” says Niraj Shah, CEO and co-founder of Wayfair.com. “Daily Fair adds another dimension to our unique shopping experience and allows us to leverage our tremendous reach and scale to source deals for our customers better and faster than any other home retailer.”
Each day’s featured Daily Fair products will be linked by theme or category, Wayfair says. This week, products include tufted headboards, outdoor play goods, novelty kids' room items and contemporary dining furniture. Today’s debut deals include home décor accents such as throw pillows, bar stools and laundry room organizational items. Each of those items’ product pages includes a second-by-second countdown to the sale’s end.
Wayfair says that bloggers, designers or other key personalities in the home goods industry will curate some of the flash sales. For example, Wayfair today launched for Daily Fair a product group selected by designers called “Poker Night Perfected,” with items such as poker tables, chairs, cards, chips, ice molds and wall art.Later this week Daily Fair will sell a curated set of goods labeled “Decorating with Texture,” with textured furniture items, and “Winter Meals,” with kitchen wares for making casseroles and stews, Wayfair says.
Daily Fair items might be featured elsewhere on Wayfair.com, but not with the same discounted pricing, the company says. Items are sold on a first-come-first-served basis and may run out before the deal is up.
The retailer previously launched a private flash sales brand, Joss & Main, and in two years built it to 3 million members, it says. In December, Wayfair raised $36.3 million to expand Joss & Main.
“We are applying our proven track record in the private flash sales model to the everyday Wayfair.com shopping experience to cater to a wider range of shoppers who are seeking value and quality,” Shah says. “This is an important evolution in our business model and one that we think will further differentiate our shopping experience and drive the continued growth of our business.”