Wayfair's Successful Business Model: Amid COVID-19 Pandemic

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Major credit card company Mastercard announced that retail sales during the 2020 US holiday shopping season (October 11th - December 24th) increased 3% year-on-year.
Due to the impact of COVID-19, online sales were particularly strong, increasing 49% year-on-year, with online purchases accounting for 19.7% of total purchases. The COVID-19 pandemic was characterized by a
change in consumer behavior to "click and collect," where people order online and pick up at the store.
Furthermore, as people refrained from going out and people continued to live "nesting lives," there was an increase in purchases of home improvement products for DIY and furniture from e-commerce sites.
This time, we looked into Wayfair, an American furniture e-commerce site that has made great strides during the COVID-19 pandemic.


■CONTENTS
(1) Wayfair, the 6th largest retail e-commerce greece whatsapp data site in the United States in 2020
(2) Wayfair's business model: a breakthrough amid the COVID-19 pandemic
(3) Wayfair’s Strengths as a Furniture E-Commerce Platform
(4) High-resolution product photos using 3D models
(5) Visual search function
(6) In-house delivery
(7) Shopping experience using AR (Augmented Reality)
(8) Use AR in brick-and-mortar stores and e-commerce sites
(9) Summary
(1) Wayfair, the 6th largest retail e-commerce site in the United States in 2020
Looking at the ranking share of retail e-commerce sales in the United States in 2020, Amazon comes in first with a 38.7% share, followed by Walmart, an American general supermarket, in second place, eBay in third place, Apple in fourth place, The Home Depot, which sells housing and construction materials, in fifth place, and Wayfair, which comes in sixth place. Wayfair
is an e-commerce company that sells furniture and household goods and is not very familiar in Japan.
The unique feature of Wayfair's business is that it only sells e-commerce products without having physical stores,
meaning that it does not manufacture products and is an e-commerce company that has succeeded with the "drop shipping model" in which products are procured only after an order is placed.

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(2) Wayfair's business model: a breakthrough amid the COVID-19 pandemic
Wayfair is an online retailer that sells mainly furniture and other household goods. It
was founded in 2002 by current CEO Niraj Shah and his friend Steve Conine.
Initially, the company operated 270 niche e-commerce sites, but in 2011 it transformed into a comprehensive e-commerce site that handles home goods. In 2014, it went public on the New York Stock Exchange.
Its online headquarters is in Boston, Massachusetts.
It has offices and warehouses across the United States, and has expanded overseas to Canada, Germany, Ireland, and the UK.
Wayfair is currently an e-commerce platform that sells mainly furniture and other products, and has a network of 12,000 suppliers to offer 14 million items.