22 May 2024, 12:23
By Furniture News Nov 12, 2015

Revenues rocket at Wayfair in Q3

Wayfair has reported the financial results for its third quarter, ended 30th September, 2015. Total net revenue increased to $594m – up 76.7% year-on-year, whilst direct retail revenue – consisting of sales generated primarily through the sites of Wayfair's five brands – increased to $545m, up 90.9% year-on-year.

Gross profit was $141.4m (23.8% of total net revenue) – down from 23.5% of total net revenue in the same quarter last year.

"We are very pleased to report the third quarter in a row of tremendous growth across the business," says Niraj Shah, CEO, co-founder and co-chairman, Wayfair. "New customer growth and repeat customer growth continue to accelerate at a phenomenal pace as we enhance our offering and build greater brand awareness with consumers. We are well positioned to enter the holiday season with key improvements across assortment, merchandising and marketing - and look forward to further building our leadership position as the number one destination for home furnishings and decor."

The number of active customers in Wayfair's direct retail business reached 4.6 million on September 30th – up 60.6% year-on-year. Orders per customer increased to 1.69 from 1.65.

Repeat customers placed 55.2% of total orders – compared to 49.8% in 2014, while average order value was $235 for the third quarter, an increase of 8.3% year-on-year. 35.1% of total orders delivered for the direct retail business were placed via a mobile device, up from 28.7% in the third quarter of 2014.

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