Wayfair, one of the most popular E-Commerce sites dealing with home furnishings has a remarkable record of selling sofas, patio chairs and cat playgrounds costing nearly $1billion. It also has 1,600 employees, which has made it incredibly big in physical growth.
An unbelievable record shows in a single year they have sold a huge number of products apart from 10 million tables, sofas, patio chairs, cat playgrounds etc. When compared with other e-commerce sites, Wayfair netted an estimated $18 million on $915 million in 2013, up 55% from the year before. It has a wide network of selling goods to customers at various levels across the U.S., Canada, Germany and the U.K.
Would you believe your eyes if you come across a record that says every month more than 11 million people–mostly women within the age group of 35 to 65 years visit Wayfair.com to check out its incredible stock of all sorts of house wares items? No doubt this is hundred times larger than any other online directory. Not only that, Wayfair offers free shipping for every order over $49.
The driving force behind the enterprise resulting into this great success lies in fulfilling orders–with a 98% success rate that constantly target towards further up gradation. Wayfair manages 7,000 vendors and a difficult to perceive huge supply chain at various levels, to achieve a perfection point so that all the customers have a virtually frictionless shopping experience.
Wayfair is not only a competent retailer but it is also an excellent data miner. It continuously caters to gathering and processing information about its customers to effectively interact with them, which helps them to understand their wishful thinking and requirements. It also provides important facts regarding customer’s likes and dislikes and many other details which are utilized in personalizing their home pages and turn search into a form of entertainment. Niraj Shah the co-founder of Wayfair thinks the unique selling point of this company can possibly be the factor that they offer the perfect product.
They also have a unique system that works with higher efficiency level than you can expect. The process is, the suppliers initially upload data on current stock to Wayfair servers. The algorithm sifts through the data, looking for red flags that indicates any laps in service like delays in a vendor’s inventory update and storing information on what’s in stock and where it is.
Since in this way all the information is upgraded with 100% accuracy, whenever a customer browses a page, the algorithm checks to see whether an item is still available and how long shipping might take.
And if you place an order, immediately it gets informed the supplier. The system then takes the charge of deciding about the shipment of the item and other related issues. You can easily check the status of your order through the customer’s Track My Order page, once the process is on.
Although Wayfair has reached such an enviable state of success still it is relentlessly trying to learn more about its shoppers and potential customers. The software track every visitor who ever browse through their site. Shah said they want to know more about their existing and potential customers and that is why they often encourage you to sign up for an account, sometimes offering a 10% discount code in exchange for your name and e-mail.