Wayfair has announced a brand new initiative to venture into the brick-and-mortar realm – with plans to open their first stores in 2022.
The company will open three stores under its specialty sub-brands, with more to come in the future. Moving into physical stores is a critical move for the online retailer to maintain its ongoing success in the market. Since launching in 2002, Wayfair has become the second largest online seller of home furnishings.
Wayfair’s competitors in the market have integrated an omnichannel approach since the pandemic began. Now, it’s their turn. Wayfair understands the importance of moving offline – to meet consumers demands, grow in the market, and follow in pursuit of many other direct-to-consumer brands.
The retailer has experimented with brick-and-mortar retail before, opening temporary stores and pop-ups. However, nothing stuck for the long-term – until now. Early next year two stores under Wayfair’s AllModern brand and one for its Joss & Main name will open in Massachusetts.
“These locations will be the first in a series of openings as Wayfair plans to launch additional stores representing all five of its brands in optimal formats, sizes and geographies over the next two years,” the company noted in its release.
The locations will exhibit a showroom style store model for customers to view and test out furniture pieces in-person. Wayfair plans to test out different store concepts to see which is more likely to scale the company to the next level.
“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. 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,” the company added.
They key to success in retail is meeting consumers where they are. Breaking into brick and mortar is a smart move for the Wayfair brand to further its future success in the furnishings market.
Source: Wayfair – Forbes
Photo Credit: Wayfair – Forbes