The company is now gunning for $4.4 billion for the whole year:
Here’s the adjusted EBITDA. The international business is still driving losses (nothing new at Wayfair):
For the US, Wayfair is a much needed example against Amazon angst. CNBC:
Niraj Shah, Wayfair’s CEO, doesn’t deny that Amazon is a competitor, yet he notes that home furnishing is a distinct category, unlike some of the other spaces Amazon has grown into.
“Home is a pretty unique category that I think consumers think about differently than grocery or consumables and paper towels and their TV, where they all want to buy the same items and mainly replenish those items,” Shah said in an interview on CNBC’s “Closing Bell” on Tuesday. “At home you want unique items.”
The home category must have a service specifically tailored to it, Shah added, unlike Amazon, which is built to sell multiple categories of products. For home furnishing, the logistics are different, the products are big and bulky, and the retailer has to do all the merchandising and product discovery work, he said.
Wayfair is currently pushing augmented reality in its mobile apps. Retail Dive:
- Wayfair announced that its proprietary augmented reality application, WayfairView, has been integrated into its mobile shopping app on the ASUS ZenFone AR, which became available Thursday exclusively through Verizon’s retail stores and website.
The app leverages Wayfair’s 3D model library and Google’s Tango AR technology to show customers virtual furniture and décor in their homes at full scale before they buy.
AR and home & living are a match made in e-commerce heaven.