The furniture industry remains strong, with Wayfair's quarterly net income reaching $3.5 billion

Data shows that in the first quarter of 2021, its net income increased by 49.2% year-on-year to US$3.5 billion. Among them, the net profit was US$18.2 million, which was a significant increase compared with the loss of US$286 million last year.

Wayfair adds 2 million new customers in first quarter

According to Wayfair's report data, in the first quarter of 2021, it added 2 million new users, bringing its total number of users to 33.2 million, an increase of 57% compared with the same period last year. Among them, existing customers continue to have high purchasing power, accounting for nearly three-quarters of the entire order.

Wayfair's strong development is undoubtedly closely linked to the recovery of the U.S. real estate market. Data shows that in March 2021 alone, the median home sales price in the United States has reached a record high of $353,000 .

The continued boom in home sales in the United States means that the demand for home appliances and furniture will continue to grow , and the United States, as an important exporter of home appliances and furniture to China, will undoubtedly benefit from this. Compared with China's furniture and retail export data in the first quarter, it has increased by 61% compared with the same period last year , reaching 105.43 billion.

Wayfair is taking a series of measures to help its suppliers maintain a stable flow of goods . It is reported that Wayfair is expanding its coverage and testing new concepts, including expanding its logistics business in Asia, Canada and Europe.

US online sales up 20% in April

Relevant data show that online sales in the United States increased by 20% year-on-year in April, and in terms of total US retail sales, they increased by 23% year-on-year in April 2021. This shows that after the warmer weather and the end of the blockade, American consumers have a stronger desire to consume.

This also further illustrates that even when the environment in the United States and Europe returns to normal, consumers will continue to focus on building and decorating their own homes , and online shopping as the main channel will also drive the strong profitability of furniture retailers such as Wayfair to continue to expand.

In fact, it is not just the furniture industry, but also categories such as outdoor activities that hold huge business opportunities. When searching for beach-related products on Amazon, the search volume once soared by 3050%, which shows that Americans' consumption desire after the epidemic is over, especially swimsuit-related categories will be hotly sought after.

Relevant sellers need to note that if they want to get a piece of the pie in the US market, they need to have a clear understanding of the market conditions in the US market so that they can usher in a real boom in orders.

Wayfair

Quarterly net income

Online Sales in the US