The new store's location will be the Natick Mall in Natick, making the retailer one of the latest to start running a bricks-and-mortar store alongside its online business.
The Natick Mall comes under the management of Brookfield Properties. Prior to opening the new store, Wayfair tested several pop-up shops, a particular example being in Paramus, New Jersey at the Westfield Garden State Plaza.
The company's co-founder and CEO Niraj Shah has stated that a permanent store will help Wayfair to bring its website to life. In this way, the brand hopes to attract more customers through the highly competent and expert support of its in-store design team.
Wayfair’s new store will mean that shoppers can either buy their goods in-store to take home or have them delivered. In any case, this is a service that can't be matched online.
These days, many online-only retail brands have been opening physical stores. For example, the mattress retailer, Casper, has revealed a plan to open 200 bricks and mortar stores over the next two years. Also, Untuckit, which sells apparel, now has 50 stores across various locations, having started life as an online retailer. In fact, Hudson Yards, a new mall in New York, has dedicated a whole floor to e-commerce brands such as Stance, which sells socks, as well as Rhone, which sells athletic apparel for men.
In addition to plans for The Natick Mall in Massachusetts, Wayfair announced it's intention to open four more pop-up stores in various locations. However, despite speculation about the Wayfair's future plans for further bricks-and-mortar stores, the retail giant hasn't commented on any projects it might have up its sleeve.
The company's shares have rocketed by over 140 percent during the last year and now sell for about $162 each. Marketing analysts have commented on the company's notable success, particularly with selling furniture online. In this scenario, customers benefit from the convenience factor of home delivery for items that are bulky and not easy to transport from the store to home in the standard car. However, the new Massachusetts store will help Wayfair to promote its brand and allow customers to shoppers test its products for real before making their purchase.
News in the same category
Walmart will close 269 locations worldwide, including 154 in the US. This is the worst part when a company wants to keep expanding.
That's good news for 99 Cents Only: after a struggling phase, efforts have paid off and the bargain stores chain is back to positive.
From this fall in New York, Target is going to bring magical characters like Mickey Mouse and Elsa to shoppers visiting some of their stores.