Globally, Wayfair achieved total net revenues of $3.5b (up $1.1b, +49.2% YoY) for its Q1, ended 31st March, 2021.
US net revenue was $2.8b (up $0.8 billion, +42.8% YoY), while international net revenue was $0.7b (up $0.3b, +85% YoY). It achieved gross a profit of $1bn (28.8% of total net revenue).
“Wayfair’s focus remains squarely on connecting all of the industry’s customers and suppliers on our unique platform, which is custom-built to address the specific needs of shopping for the home," says Niraj Shah, CEO, Wayfair's co-founder and co-chairman. "Our platform model creates a flywheel where scale begets growth, which leads to further efficiency.
We see this in action each quarter, and Q1 was no exception. We grew to $3.5b in net revenue in the quarter, having added more than $1b to the topline YoY, and generated over $200m dollars in adjusted EBITDA – all while simultaneously and ambitiously investing for the future. We are confident that customers will remain focused on their homes even as the environment normalises in the US and Europe, and that our strong profitability should not only continue but expand.”
The number of active customers reached 33.2 million as of March 31st, a YoY increase of +57.3%. Repeat customers placed 74.5% of total orders in Q1 2021, compared to 69.8% in Q1 2020. AOV was $237, compared to $235 for Q1 2020.
Read our interview with Wayfair's head of Europe, Martin Reiter, in May's issue of Furniture News.
