What “retail apocalypse”? Wayfair and other digitally native companies are turning to physical stores for growth as e-commerce profits become more…
Wayfair is opening its first large-format store because the physical experience can be better for customers than shopping online, CEO Niraj Shah told CNBC.
"If you think about the categories we're in, they're typically very visual categories, or very tactile, or, you know, considered purchases, because it's reasonably expensive and you're going to put a lot of care into picking the right item," Wayfair CEO and co-founder Niraj Shah told CNBC. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyMany companies that started by selling directly to consumers now offer their wares in department stores and big-box retailers, but even that. Brands that earned their competitive edge by gathering enormous amounts of data on their customers don't have as much visibility when they're working with wholesalers, nor do they make as much money.
"You'll see furniture, you'll see the marketplace, which is very decor centric, but we have home improvement, which includes large appliances, kitchen cabinetry, tile, doors, hardware, you'll also see housewares, small electric, there'll be storage and organization," Liza Lefkowski, Wayfair's vice president of merchandising and stores, told CNBC.
"And this is in our most penetrated market of Los Angeles. So, that's great to see," Spears said."Health-care professionals are like everybody else, right? They want to engage with brands both online and off, and we're seeing that in our Century City store."Shoppers browse clothing inside an Untuckit store at the King of Prussia mall in King of Prussia, Pennsylvania, Oct. 20, 2018.
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