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This statistic highlights Wayfair’s Number of Customers Worldwide, reported on a quarterly basis from 2016 onwards.
Wayfair is one of the world’s foremost online platforms for the category of products relating to house appliances and furnishing. Through its e-commerce business tactic, it offers consumers visually enthused internet surfing, appealing merchandising, easy product search, and sound prices.
Wayfair’s Number of Customers Worldwide
Wayfair’s Number of Customers Worldwide has increased from 6,074 in Q1 2016 to 29,213 in Q3 2020, marking a rise of 381% over a period of 6 years.
|Period||Q1 2020||Q2 2020||Q3 2020||Q4 2020||Q1 2021||Q2 2021||Q3 2021|
(All figures are in absolute number)
It rose by 23.07%, from 21,108 customers in Q1 2020 to 25,979 customers in Q2 2020. It further increased by 10.8% between Q2 2020 and Q3 2020. The number then grew by 8.3% between Q3 2020 and Q4 2020. It then witnessed a growth o f%, from 31,194 customers in Q4 2020 to 33,193 customers in Q1 2021.
However, since Q1 2021, Wayfair’s Number of Customers Worldwide has been on a decline. The number of customers reduced from 33,193 in Q1 2021 to 31,067 in Q2 2021, depicting a fall of 6.81%. It has also decreased by 5.96% on a quarterly basis in Q3 2021, compared to 31,067 active customers worldwide in Q2 2021. Wayfair’s Number of Customers Worldwide has increased from 28,783 in Q3 2020 to 29,213 in Q3 2021, making an increase of 1.5% on a year-on-year basis.
From the above data it is clear that from the starting of Q1 2020 till the end of Q1 2021, Wayfair’s Number of Customers Worldwide was on a constant rise. In 2020, the covid 19 pandemic newly struck the entire world, lockdowns were imposed all over the globe and all the shopping centers were also closed. All this forced people to resort to online shopping platforms like Wayfair, thus leading to a rise in customers worldwide for the company. However, the decline in recent quarters can be explained as the result of decreasing levels of corona cases. Governments all over the world are easing lockdowns, which leads to people shopping from physical shops and thus reducing the customer base for online operating businesses.
However, if we observe the year-on-year growth since 2016 to 2021, the number of customers are the greatest in the latest quarter. This is a positive sign for the overall growth of the company.
Wayfair is one of the world’s leading e-commerce businesses for home shopping. It offers over 18 million merchandise from over 12,000 traders. Its target customers are the 35 to 65 year age group people, specifically women with a yearly family income of $50,000 to $250,000. It has developed one of the biggest online segments of furniture, housewares, décor, embellished accents, periodic décor, and other home products. The company’s approach is to hold minimal stock so that it can earn maximum revenue with minor withholding costs. It concentrates on the home classification and this has enabled it to form a shopping practice and logistics arrangement that is custom-made to the exclusive characteristics of its market.
Founded in 2000 by Niraj Shah and Steve Conine, the company is headquartered in Boston, Massachusetts, US. Its co-founders are practiced tech innovators who have performed together in the commercial Internet segment since 1995. As engineers, they have created a company environment deeply rooted in technology and the internet. The U.S. is currently its foremost market, and it continues to expand its international businesses in Canada, the United Kingdom, and Germany through supply chains, logistics arrangements, and brand presence in those countries. The stock of this company goes by the name ‘W’ and is listed under the New York Stock Exchange (NYSE) and is a component of the Russell 1000 index.
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