W - Wayfair Boosts Offline Footprint With New In-Person Store | Benzinga
Wayfair (NYSE: W) is leaving no stone unturned to capitalize on growth opportunities present in the home goods market. Per an EMR report, the global furniture and home goods market size is expected to hit $914.10 billion by 2032, indicating a CAGR of 5.2% during the forecast period of 2024-2032.
In this regard, the company recently inaugurated its first in-person large-format store in Wilmette, IL, providing a one-stop destination for all home goods, including furniture, home decor, housewares, appliances and home improvement products.
The store features 19 departments offering expert onsite design services and fast delivery, enabling customers to purchase curated collections for their homes.
This offline store has increased Wayfair's physical footprint. In this way, the company further aims to expand its reach to a wider customer base, opting for offline shopping in the United States.
This, in turn, will likely bolster Wayfair's overall customer base.
In the first quarter of 2024, the company's active customers grew 2.8% year over year to 22.3 million.