Wayfair Reports Strong Q1 Growth

Wayfair
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Continued strong demand for home products and an increase in return customers combined to drive first-quarter revenue at Wayfair.

Total net revenue for the three months ended March 31 was $3.5 billion, an increase of 49.2% from the first quarter of 2020. Net revenue in the United States was $2.8 billion, up 42.8% when compared to the same quarter in the prior year.

The retailer’s active customers reached 33.2 million as of the end of the first quarter, an increase of 57.3%. Repeat customers placed 74.5% of total orders in the first quarter of 2021, compared to 69.8% in the first quarter of 2020.

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“Our shoppers love the experience they have on Wayfair, which keeps them coming back and (the first quarter) marked the first time that 75% of our orders came from repeat customers,” said Niraj Shah, chief executive officer of Wayfair.

The average order value was $237 for the first quarter of 2021, compared to $235 for the first quarter of 2020. In the first quarter of 2021, 60.0% of total orders delivered were placed via a mobile device, compared to 54.8% in the first quarter of 2020.