Wayfair’s Revenue Soars With Growth Of Active Customer Base

Wayfair, the furnishings and home goods eCommerce platform, reported as part of its financial results that total revenue surged by 49.2 percent year over year to $3.5 billion in the first quarter of 2021, according to a Thursday (May 6) announcement.

The company, which says it is among “the world’s largest online destinations for the home,” reported that its number of active customers jumped by 57.3 percent to 33.2 million as of March 31. Repeat customers made 74.5 percent of total orders in the first quarter of 2021, up from 69.8 percent in the first quarter of 2020. The average order value was $237 for the first quarter of 2021, up slightly from $235 for the first quarter of 2020, according to the announcement

Moreover, 14.7 million orders were delivered in the first quarter of 2021, marking a 48.8 percent year-over-year rise. Sixty percent of total orders were made through a mobile device in the first quarter of 2021, up from 54.8 percent in the first quarter of 2020.

All in, Wayfair reported $1.00 in non-GAAP adjusted diluted earnings per share.

“We are confident that customers will remain focused on their homes even as the environment normalizes in the U.S. and Europe, and that our strong profitability should not only continue, but expand,” Wayfair Co-founder and Co-chairman Niraj Shah said in the announcement.

The Wayfair family of sites encompasses Wayfair, Perigold, Birch Lane, AllModern and Joss & Main.

“Wayfair’s focus remains squarely on connecting all of the industry’s customers and suppliers on our unique platform, which is custom-built to address the specific needs of shopping for the home. Our platform model creates a flywheel where scale begets growth, which leads to further efficiency. We see this in action each quarter, and Q1 was no exception,” Shah said in the announcement.

In terms of past quarterly results, Wayfair said that fourth-quarter revenues increased approximately 45 percent to $3.67 billion.