Five of the Wayfair team will be attending BHETA’s next retailer networking forum on Wednesday February 26. With representatives including senior figures from the retailer’s Berlin headquarters, a leading member of the team will make a presentation on how suppliers can support developments at Wayfair and build up future trading relationships.
The US-based home products online retailer was founded in 2002 on a shoestring budget to sell stereo racks and stands. Founders Steve Conine and Niraj Shah then replicated their original website to sell other home products until the resulting 250 sites were merged as one in 2011. By 2012 Wayfair had exceeded $600 million in annual revenue and was well on its way to becoming a household name offering millions of products across a wide array of styles and price points.
Wayfair generated $8.6 billion in net revenue for the twelve months ended September 30, 2019 operating in the US and Europe. Its mission is to create the ultimate home goods shopping experience.
The line-up at the forum includes Glynn Jones from the Bank of England, who will provide an assessment of the outlook for the Economy and UK retail, taking account of the UK’s departure from the EU.
Phil Pond of trend forecaster Scarlet Opus (which advises many suppliers and retailers in the housewares industry) will provide insights into the issue of sustainability and eco-friendly goods and how advances in technology have led to innovation in manufacturing processes, material recovery possibilities and product design.
“Retailing continues to move fast, driven by the evolution of different shopping habits, attitudes and beliefs at macro level and ever more advanced technology,” reflects BHETA’s chief operating officer Will Jones. “This forum will provide BHETA members with a unique insight into the opportunities for trading with a leading online retail brand; as well as valuable pointers about the most important factors for focus in 2020.”
The event will be held at Federation House, Vyse Street, Birmingham. To register interest, contact BHETA’s member services manager, Nicola Adams Brown on nab@bheta.co.uk.
Top: Wayfair’s site includes ideas for kitchens, including this popular ‘Cottage/Country Kitchen’, where consumers can ‘shop the look’.
