Wayfair is an American e-commerce company that focuses on e-commerce sales. The company sells furniture and home goods. Established as CSN stores in 200, the company has made a name for itself in the US market. In addition to that, it is also active in Canada, Germany, Ireland and the UK. The company also operates various brands. These include Wayfair, Joss & Main, AllModern, Birch Lane and Perigold.
Wayfair is a relatively new name compared to some established companies. One of the differentiating factors between the company and others is its focus on the e-commerce market. Initially, Wayfair started as an online media stand and storage furniture store. Over time, the company has expanded its product range to cover more items.
Wayfair is one of the top names in the online furniture retail market. However, the company entered an industry where the competition has always been significant. While some competitors did not focus on online sales, they have also introduced their e-commerce brands. That has made it difficult for Wayfair to stay competitive.
Overall, the top 10 Wayfair competitors and alternatives include the following.
1. Amazon
Amazon is undoubtedly the largest name in the online marketplace industry. The company started its operations in 1994 as Cadabra, an online bookseller. Later, however, it expanded its operations to cover more products. Today, Amazon is a multinational technology company that focuses on various areas apart from online retail. These include e-commerce, cloud computing, digital streaming and artificial intelligence.
Amazon is the most prominent competitor to many brands in the online retail sector. Although the company has expanded its operations to other areas, its marketplace is its primary income source. Today, it ranks among the most influential economic and cultural forces worldwide. Although Wayfair does not come close to Amazon’s status, both companies still compete in the e-commerce sector.
2. IKEA
IKEA is a well-known Swedish brand that sells ready-to-assemble furniture. On top of that, it also specializes in kitchen appliances and home accessories. IKEA is a household name in the US market, with operations worldwide. The company started its operations in 1943 and has become the largest furniture retailer since. IKEA primarily operates physical stores across the global market.
IKEA currently holds the rank of being the world’s largest furniture brand. The company owns over 445 stores in several countries. On top of that, it also operates an online store for customers to purchase furniture. This approach differs from Wayfair, which primarily focuses on the e-commerce market. IKEA poses a significant threat to Wayfair as its most prominent competitor.
3. Walmart
Walmart is another household name that competes with Wayfair and several other brands. Established in 1962, Walmart started as a group of stores. Over the years, it has expanded its operations to include supermarkets, superstores, hypermarkets and convenience shops. Today, Walmart is one of the most prominent retail companies globally. However, it primarily focuses on physical stores.
Walmart also operates in the e-commerce business and competes with Wayfair in that market. Although not as prominent there, Walmart’s brand is enough to attract more customers. Walmart offers furniture items, such as tables, décor pieces, beds, sofas, kitchen cabinets, etc. On top of that, it also has its MoDRN furniture brand, which competes with others.
4. Costco
Costco Wholesale Corporation is an American multinational company that operates retail stores. The company ranks among the largest retailers worldwide, currently standing at number 5. Primarily, Costco operates physical stores. The company also ranks among the top companies by total revenues in the US market. Apart from that market, Costco also serves in various other locations.
Costco started its operations in 1976 as Price Club Warehouse. However, it wasn’t until 1983 that its founders started the first Costco warehouse. Since then, Costco has become a household name in the US market and several other locations. The company generated revenues of $166.76 billion from its retail services. However, it does not offer its products online. Despite that, it is a Wayfair competitor and alternative.
5. Home Depot
Home Depot is another well-known name in the home improvement retail industry. The company specializes in tools, construction products, appliances and services. Although not the same business as Wayfair, Home Depot competes with the brand on some levels. Currently, Home Depot operates from Atlanta, Georgia. Home Depot reported revenues of $110.2 billion in 2019.
Home Depot primarily operates big-box format stores across various markets. Its primary income source is the US market, although it also has locations across Canada and Mexico. Home Depot does not operate online stores like Wayfair. Nonetheless, the company competes with Wayfair and other names on this list in some markets. Home Depot has a significant range of goods, which helps increase its revenues further.
6. Ashley HomeStore
Ashley HomeStore is an American furniture stores chain that sells Ashley Furniture products. The company started its operations in 1997. Relatively new, Ashley Furniture has established a name for itself. Currently, it holds over 2,000 locations worldwide. The chain operates independent and through corporate-owned stores. The company also ranks as the #1 home furniture retailer in North America.
Ashley Furniture sells many items, including those manufactured by other suppliers. The company may source its products through third-party supplies apart from Ashley Furniture Industry. Currently, the company employs over 4,000 employees and is active across various markets. Ashley HomeStore reported revenues of over $5 billion in 2018.
7. Target
Target Corporation is an American big-box department store chain. The company operates from Minneapolis, Minnesota. Currently, it ranks among the largest retailers in the US. Target started its operations as Goodfellow Dry Goods in 1902. Over the years, it has gone through several transformations. Today, it has established itself as a discount retailer.
Target competes with Wayfair through its products, including furniture, among others. While this line is not the primary income source for the company, the brand helps the company compete with others. In 2021, Target reported revenues of $99.6 billion, which is significantly higher than Wayfair. Target also owns Shipt, which is an online grocery delivery company.
8. Williams-Sonoma
Williams-Sonoma is an American retail company that sells kitchenware and home furnishings. The company operates from San Francisco, CA. Currently, the company owns over 600 brick and mortar stores and distributes its products in over 60 countries. Williams-Sonoma holds various brands, including Williams Sonoma, Pottery Barn, Mark and Graham and Rejuvenation.
Williams-Sonoma is one of the largest e-commerce retailers in the US. On top of that, it also holds the stature of being one of the biggest multi-channel speciality retailers worldwide. The company competes with Wayfair in its primary market. Thus, it serves as a significant threat to the industry and the market share. Williams-Sonoma reported revenues of over $5.67 billion in 2019.
9. RH
RH (or Restoration Hardware) is an upscale American home-furnishing company. The company operates from Corte Madera, California. Primarily, RH focuses on selling its merchandise through retail stores, catalogues and online. RH owned 70 galleries in 2018, 18 of which were full-line design galleries. The company also owned 36 outlet stores in the US and Canada.
RH started its operations in 1970 in Eureka, California. The company focused on providing high-quality hardware and fixtures. In 2020, the company reported revenues of over $2.85 billion. Since then, the company has increased its galleries and introduced cost-cutting measures to increase income. RH is one of the primary competitors to Wayfair in its market.
10. Lowe’s
Lowe’s Companies is an American retail company specializing in home improvement. The company operates from Mooresville, North Caroline. Currently, it holds several chains of retail stores in the US and Canada. In 2021, Lowe’s reported almost 2,200 home improvement and home stores in North America. Lowe’s ranks among the largest hardware chains in the US and was once on the top.
Lowe’s started its operations in 1921 under Lucius Smith Lowe. The company only trails behind Home Depot in ranking among the top name. Currently, it provides home improvement goods and services that supplement them. The company reported revenues of over $72 billion in 2020. Lowe’s competes with Wayfair, although it does not focus on online sales.
Conclusion
Wayfair is an online retailer of furniture and home goods. The company has made a name for itself in a relatively small period. On top of that, it has expanded its operations over several markets. However, Wayfair faces significant competition from others. Some of the top Wayfair competitors and alternatives include the above names.
