It remains to be seen how big an appetite online shoppers have for buying furniture and other home items this holiday shopping season. But online retailer Wayfair Inc. is rolling out deals to get web shoppers buying early and often.
On Oct. 25 and 26, Wayfair will stage its second Way Day of the year. It will feature deals on more than 1 million items for the home, up to 80% discounts on top-selling items and a sweepstakes with a chance to win a $50,000 home makeover.
Wayfair is No. 10 in the Digital Commerce 360 Top 1000. The database ranks North America’s largest online retailers by web sales.
Wayfair holiday shopping push
The push for early holiday shopping comes at a time when Wayfair could use a boost to its 2023 financial performance. Wayfair won’t break out third quarter revenue until Nov. 1, but for the first six months of the year, the online home décor and furniture retailer reported revenue of $9.45 billion, a 5.3% drop from sales of $6.277 billion in the first two quarters of 2022. Net loss was $401 million compared with a net loss of $697 million in the prior year.
With early holiday shopping days and deals, Wayfair is using a mix of steep discounts, sweepstakes, mobile commerce, and artificial intelligence to spur web shoppers to buy. Specific initiatives include:
- Customers who shop starting today through the end of Way Day will be entered in the Way Day Home Makeover Sweeps for a chance to win $50,000 toward a home makeover with Wayfair’s design services.
- Beginning Oct. 23, Wayfair will feature an additional 20% off eligible products, exclusively on its app.
- Way Day items will be available in Decorify, Wayfair’s generative AI-powered virtual room styler. Decorify uses an AI model that creates realistic images from another image. By simply uploading photos of their spaces to Decorify, customers can see product recommendations from the sale in the room style of their choice.
“We’re excited to kick off an extended season of deals with our second Way Day of the year,” says Wayfair chief commercial officer Jon Blotner.
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