Wayfair is an online retailer headquartered in Boston, Massachusetts. It was founded in 2002 by Steve Conine and Niraj Shah and currently employs more than 16,900 people worldwide. The company offers one of the largest e-commerce platforms for home furnishings, appliances and interior design in the world.
The American e-commerce site has more than 75 million monthly visitors, making it one of North America’s most successful online retailers. Wayfair.com ranks 6th in the e-commerce sector, 66th internationally and 231st worldwide as of June 2021, according to RelatedWeb. [1]
In addition, the company operates several online stores, including Joss and Main, Perigold, AllModern, and Birch Lane. Wayfair Alternatives and Competitors offer more than 18 million products from approximately 10,000 suppliers. It serves over 80 million millennials and has an average customer with an average income of $75,000.
Wayfair reported 2020 revenues of $14.145 billion and profits of $360.35 million. Wayfair’s revenue grew 150% in 2020, faster than its peers. Wayfair must fight against competitors and substitutes to maintain its market dominance.
Table of Contents
1. Amazon
Amazon is the largest e-commerce platform in the world. It started as an online marketplace for books and evolved to encompass most categories of retail sales, including furniture, home decor, and appliances. For fiscal year 2020, Amazon has 1.29 million employees and revenues of $386.06 billion.
Wayfair is the fastest-growing and market-leading online furniture retailer, with a market share of 33.4%, according to 1010data. Amazon is second in market share with 29.7%. 63% of online furniture sales are dominated by the two e-commerce giants.
Wayfair is surpassed by Amazon for its strong financial position, product diversity, broad delivery network, and cost-effective consumer services such as free EMI. Amazon is Wayfair’s main competitor and alternative, whichever way you look at it.
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2. Ikea
IKEA is one of the largest furniture manufacturers in the world, with 445 locations in more than 50 countries. It has 211,000 employees worldwide and sells more than 12,000 home products online and in stores. IKEA’s annual sales reached $46.78 billion (€39.6 billion) in 2020.
Although IKEA has fewer stores than its competitors, it makes more money selling furniture than any other company.
IKEA’s main competitive advantage is its ready-made furniture, which has become the preferred choice of consumers. IKEA maintains both physical and online stores, unlike Wayfair’s online-only approach.
It successfully competes online and offline and generates huge profits in both markets. Still, IKEA is a love or hate brand. It sells affordable furniture, but many buyers have complained about the low quality and difficult assembly. IKEA and Wayfair are ideal substitutes and equal competitors.
3. Ashley Furniture
At Ashley HomeStore, we are honored to have the opportunity to support the next generation of creators, innovators, and creators. Every day we get inspiration from their drive and curiosity. Watch their story. 🧡 https://t.co/JWkNBownFD
— Ashley (@AshleyHomeStore) February 16, 2020
Ashley Furniture is an American furniture manufacturer and retailer based in North Carolina. It has more than a thousand stores worldwide and offers furniture for the living room, dining room, bedroom and home office.
The company supplies products throughout North America under the Ashley HomeStore brand name. Ashley added 4,000 people in the second half of 2020 and now has more than 35,000 employees worldwide. Ashley HomeStore is North America’s most prominent traditional furniture retailer.
In 2020, Ashley’s revenue was $6.4 billion, an increase of 13% over 2019. Between January 2021 and June 2022, Ashley will invest $1 billion in manufacturing, distribution, automation, and workforce.
In 2021, it will increase shipments by 20%, domestic furniture fabric production by 40% and bedroom production by 20%. Wayfair is less experienced and specialized than Ashley. It is the ideal alternative to Wayfair and one of its leading competitors.
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4. Williams-Sonoma Inc.
Williams-Sonoma is one of the largest furniture retailers in the world, serving consumers in more than 60 countries. It owns many brands, including West Elm, William-Sonoma Home, Pottery Barn, and Rejuvenation, and has 650 locations across the United States.
Williams-Sonoma has a competitive advantage over Wayfair because its brands target different target markets.
Williams-Sonoma produced record revenue of $6.8 billion for fiscal year 2020. E-commerce revenue increased 47.9% and accounted for nearly 70% of total sales. The company’s same-store sales increased 25.7%, with double-digit improvements across all brands.
Same-store sales increased 26% for Williams-Sonoma Home, 25% for Pottery Barn and 25.2% for West Elm. Williams-Sonoma’s fast-growing e-commerce business and profitable brands threaten Wayfair’s market share and revenues. It is a powerful competitor to Wayfair.
5. Walmart
If your plans don’t include ✨ LIVE ✨ shopping with our staff this week, what are you actually doing? Tune in to choices straight from the aisle ➡️ https://t.co/DfF1RhmnBl. pic.twitter.com/qlORCxaAy8
— Walmart (@Walmart) June 20, 2022
With more than 11,000 stores, walmart is the largest physical retailer in the world. It has approximately 2.2 million employees worldwide and operates in 27 countries. Walmart raised the minimum wage for 165,000 workers to $12 by 2020, bringing it in line with Wayfair.
In 2021, it wants to continue to invest and improve the remuneration of 425,000 employees. In 2020, Walmart’s sales increased 6.7% to $559 billion.
The retail giant offers an extensive selection of furniture, including tables, kitchen cabinets, accent pieces, beds, mattresses and couches, among others. Customers can purchase MoDRN furniture as well as products from other manufacturers.
Walmart dominated the home furnishings industry with 10.1% and the online furniture market with 4.7%. Walmart is a formidable top competitor to Wayfair due to its growing digital sales and huge market share.
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6. RH (Recovery Hardware)
http://fb.me/GFecAGwy
— Recovery Hardware (@RestoHardware) March 18, 2011
Restoration Hardware (RH) is a manufacturer of luxury furniture. It sells its products online and in 36 outlet stores in the United States and Canada. In 2020, CEO Gary Friedman slashed executive salaries, laid off 440 employees and took 2,300 furloughs. These cost-cutting initiatives helped RH generate outstanding profits.
In fiscal 2020, RH’s revenue increased 8% from $2.6 billion in 2019 to $2.85 billion, and the value of its stock tripled. CEO Friedman is RH’s largest shareholder, with a 10% investment in the company, and he’s trying to fund RH’s new galleries.
These galleries will bring RH’s revenue to approximately $20 billion worldwide and $6 billion in North America. RH’s ambitious targets will strengthen its competitive advantage over Wayfair.
7. Goal
Say hello to #TargetZero, a curated collection of products designed to reduce waste and help you make more sustainable choices, all part of our zero waste journey. 🌱 More information: https://t.co/dTD35bxXqk pic.twitter.com/heDZDhLCpZ
— Target (@Target) April 11, 2022
Target is one of the largest retail chains in the world, with approximately 2,000 stores in the United States alone. In addition, the company offers home furnishings under a number of its own labels, including Project62, Hearth & Hand and Opalhouse.
Target’s 2020 annual revenue was $93.6 billion, up 19.8% from 2019. It captured a $6 billion market share from rivals and reported record-breaking digital sales in 2020. Target is currently among the top 10 from online retailers in the United States.
Target partners with renowned furniture designers and interior design experts such as Levi’s, Dwell magazine and John Derian to bring consumers trendy and low-cost items. In 2021, Target teamed up with the creators of Studio McGee and the stars of Netflix’s Dream Home Makeover.
Target’s customers will receive a collection of California and French-house inspired products. These distinctive offers can steal customers from Wayfair.
8. Costco
Costco is a member-only wholesaler that operates a global chain of member-only warehouses. The company sells superior quality items from respected brands at a lower cost than Wayfair and other competitors.
Its appliances, housewares, and furniture are discounted for members, making it the best alternative to Wayfair for SMBs and wholesalers looking to save money. Costco’s 2020 revenue was $166.76 billion, up 9.21% from $152.7 billion in 2019.
Costco does not offer online ordering for in-store or curbside pickup, unlike Wayfair. However, in 2020, the company’s internet revenue increased by 91%. Costco dwarfs Wayfair with 552 warehouse clubs in the United States and 795 outlets worldwide.
Similar same-store sales increased about 14% in 2020. Costco is one of the top Wayfair alternatives for SMBs and budget-conscious shoppers.
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9. Thuisdepot
43 years ago we opened our doors to our first customers. Thank you to all our employees!
What is your favorite Home Depot memory? pic.twitter.com/oEoPYOzSUh
— The Home Depot (@HomeDepot) June 23, 2022
Home Depot is the leading supplier of home improvement products and carries furniture, bedding, lighting, throw pillows and accent pieces. The company has more than 70 distribution sites in the United States and is ranked 18th on the Fortune 500 list for 2021.
Product variety is Home Depot’s main strength. Customers can purchase all of their home renovation needs from one location, from power tools to building materials to furniture.
In 2020, the average purchase value of its customers increased by approximately 11% to $75.69. Higher sales of high-end items such as appliances and vinyl plank flooring led to a 24% increase in sales per square foot to $528.01. In 2020, their digital sales increased by 86%.
In 2019, Home Depot’s annual revenue increased 19.85% to $132.11 billion. Home Depot’s e-commerce approach produces remarkable results and increases its competitive advantage over Wayfair.
10. Ebay
eBay.com is the largest marketplace for buying and selling used or new furniture, clothing and electronics, among other things. It is one of the world’s oldest e-commerce companies and offers more product variety than Wayfair.
The range of home furnishings is similar to that of Wayfair, but cheaper for the consumer. The company’s business model is based on auction sales, while Wayfair focuses on dropshipping.
eBay completed a $9.2 billion merger with Gumtree in February 2021 to form the world’s largest classified advertising company. Gumtree is the third largest e-commerce site in the UK after eBay and Shpock’s Adevinta.
eBay is the go-to marketplace for cheap used furniture and electronics in the United States. eBay’s gross commercial value was $90 billion in 2020 and sales increased by 19%. eBay’s low-cost products may lure certain Wayfair buyers.
