Wayfair’s first physical store opened today in Natick, Massachusetts. Susan Frechette, Wayfair spokesperson, stated, “For us, we see the store as just another channel that we use to engage with our customers and showcase all that Wayfair has to offer.” Customers will also be able to experience the “Wayfair Home Bar” to design a home and experience it in virtual reality.
- ThredUp, the on-line fashion resaler, announced a new platform called Resale-As-A-Service that offers partners three services: a loyalty program, an in-store pop-up, or an online collaboration. The firm which has partnered with multiple brick and mortar retailers raised $100 million in a new funding round along with a previously undisclosed $75 million.
- Target’s stock was up 20% today as it beat Q2 revenue and earnings expectations via sales and traffic increases. The company raised its full-year guidance and attributed nearly 1.5% of its same-store sales growth to same-day fulfillment services such as in-store pick up, drive up, and Shipt same-day delivery.