Pandemic shopping pushes Wayfair to new heights

Homepage photo: Shutterstock.com. Article by Dennis Scully.

Imagine that you are the CEO of an online home goods retailer. A genie grants you three wishes. First, you wish that your brick-and-mortar rivals are all forced to close; second, that your biggest online competitor, Amazon, shifts its focus away from your market, prioritizing the delivery of essential products rather than products like furniture and lighting; and finally, that your potential customers are all forced to stay indoors, where they realize the shortcomings of their home environments—not just that uncomfortable sofa, but also the poor reading lamp that stands beside it.

What would happen next? Perhaps you would acquire 5 million new customers in just three months, something that normally took you a year to achieve? Or perhaps your revenues would balloon by nearly 84 percent, to more than $4 billion. Or maybe you’d finally turn your first quarterly profit since your company went public in 2014. […]

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