Wayfair to host annual sales extravaganza
The end of April means the beginning of Wayfair’s annual “Way Day” online promotional event.
The online home furnishings retailer is hosting the 2023 edition of its annual online sales blockbuster Wednesday, April 26 – Thursday, April 27, starting at midnight ET. This marks the fourth year in a row Way Day will span 48 hours.
In 2020, Wayfair delayed Way Day until September. 2020 also marked the first year Wayfair hosted Way Day as a two-day event. The retailer launched Way Day in April 2018 as a 24-hour online shopping holiday, and extended it to 36 hours in April 2019.
The global two-day sales event will feature what Wayfair says will be the lowest prices of the year with free shipping on everything. The retailer will offer deals up to 80% across all product categories, as well as all of its brands including AllModern, Joss & Main, Birch Lane, Perigold and Wayfair Professional.
Way Day will also include a variety of doorbuster deals from brands including Cuisinart, Sealy, Dyson and KitchenAid, as well as 24-hour flash deals on top-selling furniture and décor items. Wayfair will also feature the event on its “Wayfair on Air” livestream offering, available on its app and Instagram page, and select early deals are now available on its e-commerce site and app.
"With the spring season underway and warmer months ahead, home is top of mind for our customers, and we know that they continue to seek great value as they refresh their indoor and outdoor spaces, plan home improvement projects, and stock up on home essentials," shared Steve Oblak, chief commercial officer, Wayfair. "This Way Day, we are excited to offer our customers the best prices of the year as well as fast and free shipping across our unparalleled selection for the home."
Wayfair annual loss hits $1.2 billion
For the second year in a row, Wayfair is launching Way Day as it comes off a difficult fourth quarter and fiscal year. The online home furnishings giant posted a net loss for the quarter ended Dec.31, compared with a loss of $202 million in the year-ago quarter. expected.
For the full year, Wayfair reported a net loss of $1.3 billion compared with a loss of $131 million in 2021. In addition, net revenue, orders delivered and customer base all declined, while advertising expenses grew. In one good piece of financial news, average order value rose year-over-year.
Wayfair’s brands include Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional. The company generated $12.2 billion in net revenue for full year 2022 and is headquartered in Boston, with operations throughout North America and Europe.