But as other retailers, not just in home but in every merchandise category, have learned, you need to be able to sell the customer wherever they choose to shop. Still, the cost of opening would could be dozens or even hundreds of physical stores will be significant for a company that has only broken into the black over the past pandemic year. “You start thinking, ‘Man, if you get that store, right, and it’s just another channel you’ve added into the mix, in addition to the stories you tell on TV and what you’re doing on social media and what you can do with catalogs, what you do online, you can start to see … that’s quite a nice leverage point.” For example, The Bombay Store, Ebony, Meena Bazar from India, Marks & Spencer from UK. It offers selling space in the range of 10 to 70 for food, clothing, and household items. “We have some ideas for different concepts that we think could be the right concepts that we would then want to scale,” he said indicating Wayfair wants to “see how they perform in the real world.”Ĭlearly Shah understands Wayfair needs stores to be ultimately successful. Departmental Stores It is a multi-level, multi-product retail store spread across average size of 20,000 sq.ft. But on its recent earnings call with analysts CEO Niraj Shah said the physical locations would represent “a new kind of omnichannel shopping experience (that) “blurs the lines between online and offline.” Suggesting this is all still a work in progress he referred to the store rollout as a “physical retail experimentation. Wayfair did not respond to several inquiries for additional comments on future plans. Trade sources said they expected these first stores to be relatively small, perhaps 10,000 square feet, but Wayfair says future stores under its umbrella brand as well as Perigold will be “larger store formats.” Vendors who sell Wayfair said they were told by Wayfair executives at a recent meeting for suppliers that these future stores could be as large as 100,000-square feet and that they would not open until at least 2023. “Featuring furniture as well as tabletop, bedding & bath, seasonal items and more, shoppers will be able to immediately purchase products in store and have orders placed for fast delivery to their homes.” “Shoppers will be able to explore independently or be guided by knowledgeable teams leveraging innovative tools and expertise and offering creative solutions for their homes,” the company said.
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