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Online furniture and home goods retailer Wayfair has reported a net revenue of 12.2 billion euros in 2021. In 2020, the platform made a revenue of 12.6 billion euros, illustrating that sales have decreased slightly. However, it expects to grow strongly in the coming years. It wants to surpass the 100 billion euro revenue mark by 2030.
Ecommerce furniture and home goods platform Wayfair was founded in 2002 in the US. Since then, the platform has expanded internationally. It has already entered the top 4 of the largest furniture stores in Germany with Wayfair.de, with net sales of 215.4 million euros in 2020.
30 million products
According to Wayfair, it has 27 million active customers who can buy over 30 million products from 23.000 supplier partners. Recently, the platform published its Q4 financial results. In 2020, the platform surpassed the 10 billion euros revenue mark with a net revenue of 12.6 billion euros. In 2021, this decreased slightly to 12.2 billion euros.
‘The adjusted EBITDA came to €548.2 million in 2021.’
In 2021, the adjusted EBITDA came to 548.2 million euros, which was 4.5 percent of the total net revenue. A large majority (76 percent) of its orders came from repeat customers. According to Wayfair, this means that it has a loyal customer base.
€100 billion revenue by 2030
The company wants to generate more than 100 billion euros in revenue by 2030. In order to do so, Wayfair wants to invest in its growth in the coming years. It will launch several brick-and-mortar concept stores later this year and in early 2023. “We know that there will continue to be a significant portion of our category that is sold in physical stores. We are excited to leverage the substantial assets we have, as we begin to build brick-and-mortar experiences for our customers”, reads the shareholder letter.
Further expansion in Europe
“Now that we have a solid foundation in the UK and Germany, we can execute our playbook to further penetrate the European market. We will begin with adjacent countries this year by leveraging our well-developed regional supplier network across more than 30 European nations.
‘We will leverage our regional supplier network across more than 30 European nations.’
In doing so, we are partnering with global suppliers who want to replicate their U.S. success with us in new markets, as well as local and regional suppliers in Europe with whom we already have strong relationships. In Europe, we also have a proven playbook when it comes to scaling our nascent but promising B2B business, which already shows early traction in tapping this sizable market.”
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