American home goods e-commerce giant Wayfair has reported a sharp drop in sales for its Irish subsidiary, Wayfair Stores, in 2023. Revenue fell to €532.3 million, down 32% from €787.5 million in 2022, and a far cry from the pandemic-driven peaks of €1.03 billion in 2020 and €970.3 million in 2021.
While registered in Ireland, Wayfair Stores primarily serves several European markets, including the UK and Germany. Although country-specific data was not disclosed, the overall figures reveal a significant decline in the company’s European performance. This downturn aligns with Wayfair’s recent decision to exit the German market and redirect investments, a strategic shift expected to have profound implications for its operations in the UK and other European markets.
Wayfair UK and other independent entities provide sales, marketing, and fulfillment services for Wayfair Stores. Industry experts note that the reported figures represent transactions processed by Wayfair Stores rather than direct-to-consumer sales through its platform, a distinction that is often misunderstood.
While detailed performance analyses for European markets remain unavailable, the latest data indicates a marked slowdown in Wayfair’s overseas growth trajectory.
Sourced from Our China Media Partner 77° Global Furnishings Media.
