Wayfair has emerged as one of the few winners of the pandemic that has battered much of the retail industry.
The home goods sector more broadly has gained in recent months as consumers began investing more into their homes, where many now spend the majority of their time. Other retailers in the space, including Bed Bath & Beyond and At Home, have reported strong results in their most recent quarters. In fact, according to GlobalDataresearch, total spending on furniture and home furnishings increased 13.2% in the U.S. during the quarter.
“Though the initial shock of the arrival of COVID-19 is arguably behind us, consumer behavior in both North America and in Europe is undeniably changed as a result of the pandemic,” Shah said on Tuesday.Retail Dive