Wayfair pitching daily deals
Feb 20, 2013 (Boston Herald - McClatchy-Tribune Information Services via COMTEX) --
E-commerce up-and-comer Wayfair.com will start using daily flash sales to boost customer awareness as the 18-month-old Hub-based home goods seller takes on top online retailers Target, Amazon and Home Depot.
"Whether we'll have as much brand awareness as those guys, I don't know. I hope so," Wayfair.com co-founder and CEO Niraj Shah told the Herald. "Could we have far more brand awareness than we do today Absolutely. So our goal is to keep enhancing that."
The company generated $600 million in sales last year, but Wayfair.com only attracts about 10 million visitors a month, a small percentage of its target demographic of 30- to 60-year-old women in the United States and Canada making between $50,000 and $150,000 annually, Shah said.
Today, the company unveils Daily Fair, a new online feature that promotes seven new sales a day, seven days a week -- each one lasting for 72 hours. Wayfair.com shoppers will receive an email at noon every day announcing the sales or they can access them directly on the company's website.
The sales -- in such categories as home improvement, furniture and decor and pet goods -- will provide "deep, deep discounts" of up to 70 percent on merchandise, Shah said, adding they will change each day and target everything from upholstered headboards to wooden barstools to outdoor play items.
While some shoppers may view the sales as overkill, each deal will cater to a different customer base, Shah said.
The limited-time promotions will feature products linked by theme or category, as well as curated events featuring items handpicked by bloggers, designers and other home community influencers.
Wayfair.com, which also includes the AllModern and Joss & Main brands, offers more than 5 million products from 5,000 suppliers.
"If you're thinking online, whether it be to research or buy, we want you to come to Wayfair.com," he said. "The biggest goal here is to give (consumers) more benefits for coming back."
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