How Innovation Allows Wayfair to Keep Growing

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Wayfair, an online furniture and home goods retailer, maintained an innovative culture as it grew from a two person operation to a company with thousands of employees.

While walking down the halls of Copley Place, a high-end shopping center in Boston, it’s hard not to feel like a high roller. If the allure of Jimmy Choo or Louis Vuitton doesn’t catch your eye, the sparkle of Tiffany & Co. surely will.

This is what the walk looks like to the headquarters of Wayfair, the ecommerce site for all things furniture and home-goods. Founded in 2002 with the sole purpose of selling stereo racks and stands online, the company has since skyrocketed in popularity. Wayfair generated $9.1 billion in net revenue in 2019, selling more than 18 million products across five brands.

In fact, while much of the country remains indoors due to stay-at-home advisories, the company has continued to experience growth. For the first quarter of 2020, Wayfair saw revenues grow 19.8 percent. Not surprisingly, sales of home office furniture, playroom items, and recreation products have been strong amidst the pandemic.

 

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