Will five banners work better than one for Wayfair as it begins to open stores?
Wayfair appears to be getting more serious about brick and mortar retail. The online furniture and home goods retailer says it will go from zero to three stores over the next year.
Wayfair will open the stores in Massachusetts — two under its AllModern banner and the third as a Joss & Main store.
Wayfair plans to eventually have stores operating under all five of its brands, including its namesake property, Birch Lane and Perigold. The AllModern, Birch Lane and Joss & Main concepts will be small box operations. The Perigold and Wayfair stores will be larger locations, when they eventually open.
“We are focused on creating the best possible experience for our customers. That includes meeting them wherever they are on their shopping journey and delivering the exceptional value, selection, service and inspiration they enjoy from our entire family of brands,” Karen McKibbin, head of physical retail, Wayfair, said in a statement. “With our first-ever AllModern and Joss & Main retail stores, we are introducing a new kind of omnichannel shopping experience powered by the Wayfair platform, inviting our customers to engage with the brands they know and love in an innovative format that blends the best of in-store and online shopping.”
The two AllModern stores will make their debut in open-air shopping centers. Joss & Main’s first store will be at a Simon Property Group mall.
Wayfair said the two stores will offer “distinctive” shopping experiences, with furniture and other goods for the home that fit the niches that AllModern and Joss & Main cater to. Customers will be able to interact with products in the stores, take advantage of technological tools and associate expertise before making a purchase. When they are ready to buy, shoppers can place their orders for fast home delivery.
“We are focused on building a premier portfolio of specialty concepts, helping all of our customers find the home solutions that are just right for them,” Ms. McKibbin said. “We look forward to unveiling the next evolution of our specialty retail brands through this exciting new channel.”
Wayfair has tinkered with physical retail before. It began with pop-up shops before opening a small Wayfair store at a Massachusetts mall in 2019. The company closed that location last December.
- Wayfair to Launch First Brick & Mortar Experiences for AllModern and Joss & Main Brands – Wayfair Inc.
- Wayfair inc (W) Q3 2021 Earnings Call Transcript – The Motley Fool
DISCUSSION QUESTIONS: Do you see the utility of Wayfair opening stores under its five core brands instead of under a single namesake banner? What will it take for these individual banners to succeed?