What we can learn from Wayfair, the home goods e-commerce giant

4 months ago by Joshua Fruhlinger in Facts

It's probable that you've ordered something from Wayfair ($NYSE:W) or one of its affiliate sites. Perhaps that new settee came from Allmodern.com. Or maybe your new duvet cover was nabbed at Joss & Main. Either way, it's likely that you — or someone you know — shops at one of Wayfair's brands. The company is just that big and influential.

Founded in 2002 as CSN Stores by Niraj Shah and Steve Conine, Wayfair has become an e-commerce giant in the home goods space. They began simply: by selling media stands on a humble little site called racksandstands.com. They expanded into home décor and furniture, and by 2006 had earned $100 million in sales.

Wayfair went public in October 2014, raising over $300 million on the New York Stock Exchange. Today, it is the largest online-only retailer of home furniture in the United States and 33rd-largest retailer in the US. Revenue in 2017 was a very impressive $4.7 billion.

The e-commerce company shows no signs of slowing down, either. They're focused on inexpensive products, positive user experiences with their digital products, and good customer service. The results of this vision show in how the company is perceived. With happy customers, happy investors, and happy employees, Wayfair shows no signs of slowing down. Here's how Wayfair looks by the numbers.

Social Savvy

Another critical component of being an all-digital company is social media reach. When it comes to Facebook followers, Wayfair is head of the game, claiming 6.3 million followers on Facebook for its flagship brand alone.

Joss & Main has also had an excellent Facebook run, with likes and followers accelerating this summer.

Beloved apps

If you're a 100% e-commerce play like Wayfair is, it's critical that you create a near-perfect shopping experience, be it through your websites or apps. Wayfair excels here.

All of its apps — the main touchpoint for millions of shoppers at Wayfair's brands — have near-perfect ratings for all versions on the iOS App Store. In fact, as of today, all of Wayfair's most-recent apps have perfect 5 ratings.

App Name

As Of Date

Rating

Rating Count

App Version

Version Rating

Version Rating Count

Wayfair – Shop All Things Home

2018-07-19 00:00:00

5

221391

4.51

5

212

AllModern – Furniture + Decor

2018-07-19 00:00:00

5

5917

4.51

5

5

Joss & Main: Furniture + Decor

2018-07-19 00:00:00

5

19238

4.51

5

19

Hiring is Healthy

Wayfair currently has 781 open positions. That's just shy of its highest point (since we began tracking last summer) of 800 in December 2017.

When looking at the types of positions Wayfair is looking to fill, it becomes even more clear that the company is geared for strategic growth. It is currently hiring for 12 Senior Product Managers, 7 Product Managers, and multiple recruiting and HR-focused positions. This shows a continuned focus on assuring that the company's digital product resonate with customers and create return purchases — critical ingredients of any e-commerce enterprise.

Title

Title (Count)

Senior Product Manager

12

Recruiter

8

Product Manager

7

Warehouse Supervisor

6

Warehouse Associate

6

Customer Service Manager

5

Human Resources Manager

4

Senior Recruiter

4

Software Engineering Manager (m/f)

4

Operations Analyst

4

Happy Workers = Healthy Business

As for the employees Wayfair already has, it seems they're quite happy, at least according to employee ratings posted to Glassdoor.

Overall ratings for Wayfair as an employer have risen from 3.1 to 3.5 out of 5 in the past year. That means that, cumulatively, people find the company a good place to work. This leads to retention, and retention leads to lower HR costs.

Wayfair CEO Niraj Shah isn't just a billionaire, but he's also beloved by his employees, especially as of late. His rating by employees has soared from 77% in the fall to 88% today.

When asked how employees feel about Wayfair's business outlook in the near future, they're resoundingly positive. They've rated the company's business outlook at a positive 62%. Compared to a sub-standard rating of 48% last fall, it seems the company's recent strategic moves are seen positively by employees.

Joshua Fruhlinger

Joshua has been writing about technology, lifestyle, and business for over 20 years. He's one of the original writers and editors for Engadget, and still writes a...

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