Wayfair sets date for annual sales bonanza
The Wayfair 48-hour “Way Day” online sales event is coming soon.
The online home furnishings retailer is hosting the 2022 edition of its annual online sales blockbuster Wednesday, April 27 – Thursday, April 28, starting at midnight ET. This marks the third year in a row Way Day will span 48 hours.
In 2020, Wayfair delayed Way Day until September. Many other annual online sales events, including Amazon Prime Day, were also postponed until the fall in 2020 due to the impact of COVID-19.
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 annual two-day sales event will feature the lowest prices of the year from across all of its Wayfair’s product categories, including furnishings and décor, housewares, major appliances, home improvement items, and outdoor products. Discounts will range up to 80% off tens of thousands of items, as well as free shipping on everything. Way Day deals will also be available from select Wayfair brands, including AllModern, Birch Lane, Joss & Main, and Wayfair Professional.
For a limited time through April 28, new Wayfair credit card members can receive $40 off their qualifying first purchase of $100 or more across the U.S. and Canada, with applicable exclusions. Wayfair will also offer additional savings exclusively on Wayfair On Air, its video commerce platform available on the Wayfair app.
Wayfair reacts to financial struggles
Wayfair is preparing for its annual sales event as it comes off a difficult fourth quarter. The company reported net loss totaling $202 million for the quarter compared to net income of $24 million a year earlier. In addition, revenue fell to $3.25 billion from $3.67 billion, missing estimates. For the full year, the company total net revenue fell 3.1%, to $13.7 billion.
Active customers also fell 12.5% year-over-year to 27.3 million. However, average order value for the quarter was $269, up from $223 the previous year. In another piece of recent good news, Wayfair received high marks for its email personalization in the 2022 Sailthru Retail Personalization Index.
Some industry analysts have speculated that Wayfair’s loss came as more consumers are shopping in-store for furniture. In December 2021, the company announced that it planned to open brick-and-mortar stores across all its brands, which include Wayfair, AllModern, Joss&Main, Birch Land and Perigold.
“Consumers are bringing more creativity and innovation to their homes than ever before - from renovating garages into guest rooms and art studios, to transforming their backyards into outdoor oases,” said Steve Oblak, chief commercial officer, Wayfair. “Whether planning for summer gatherings or stocking up on home staples, we are excited to offer our customers the lowest prices of the year this Way Day as we help them reimagine their spaces and create their own unique feeling of home.”
Based in Boston, Wayfair operates a portfolio of e-commerce sites including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold; as well as Wayfair Professional, its business program.