19 July 2024, 05:46
By Furniture News Nov 09, 2021

Wayfair's pandemic boom slows in Q3

Wayfair reported net revenue of $3.1b in Q3 (ended 30th September, 2021), down -18.7% YoY. International net revenue amounted to $0.5b, down -6.8% YoY.

“Wayfair delivered $3.1b in net revenue and over $100m of adjusted EBITDA in the third quarter," says Niraj Shah, Wayfair's CEO, co-founder and co-chairman. "As various geographies reopened post-pandemic, consumers naturally shifted some spend towards travel and entertainment and from ecommerce towards brick and mortar. Demand and interest in the home remains resilient, but it will take a few more quarters for our growth – and ecommerce growth in general – to get back to normal."

Wayfair reported a gross profit of $882.7m (or 28.3% of total net revenue) for Q3, and a net loss of $78m.

Also in the quarter, Wayfair saw its active customer number reach 29.2 million as of September 30th – an increase of +1.5% YoY. Repeat customers placed 76.3% of total orders in the quarter, compared to 71.9% in Q3 2020. AOV was $283, compared to $243 in Q3 2020.

"Our long-term vision is in sharp focus coming out of the pandemic period," Niraj continues. "The initiatives required to realise it are in flight, even as we work through near-term macro challenges like supply chain congestion and related inflation. We are, as ever, focused on the long term, balancing strong growth and profitability over years, not quarters, and solidifying our position as the definitive destination for the home.”

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