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Buy furniture Always comes with a few decisions, especially if you really want to invest in a room or if you prefer to find a good deal. Fortunately, online retailers offer both and if you prefer more affordable options, Wayfair is usually a reliable bet. Like many others in the house sector, Wayfair Business was booming At the height of the pandemic cochem, but now, new data suggest that buyers actively abandon the retailer. Continue reading to learn more.

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According to CNBC, Wayfair sales below expectations during the last quarter. The house retailer had to bring in $ 2.98 billion, falling just shy by collecting $ 2.94 billion, reported the point of sale, citing data from a survey of LSEG analysts. However, by a Press release From Wayfair, it was an increase of 3.7% compared to the same quarter in 2022. AE0FCC31AE342FD3A1346EBB1F342FCB

International sales have also had a 7% drop from one year to another, lowering $ 28 million, while revenues in the United States increased by 5.4%. And although Wayfair reported a loss per share of $ 0.13, this was much lower than the loss of $ 0.48 which was expected.

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Individual customers have also dropped slightly in the past 12 months, at $ 538 (a drop of 1.6%). During the last quarter, in particular, customers also spent a little less. In the third quarter of last year, the average value of the order was $ 325, but this year, this number was down to $ 297.

Compared to 2022, Wayfair also reported fewer "active customers", who fell 1.3% to 22.3 million. However, the company noted that the average number of customers had improved from one quarter to another and repeat Customers are now buying more.

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Like many other home retailers, Wayfair particularly successfully succeeded during the pandemic when consumers were confined to their homes and sought to raise their space. But when the stays in the house were raised, the expenses moved to travel and experiences - and this year, with climbing interest rates and a slower housing market, Wayfair has had harm to resume momentum.

But although the latest results do not exactly comply with Wall Street expectations, Wayfair is actively working to reduce costs, CNBC reported. Following a job freeze in May 2022, the company made significant discounts in its workforce in January, eliminating around 1,750 employees.

The leaders also shared a positive perspective, stressing that the company returns to profitability.

"Wayfair is now in a place where we can stimulate profitability while investing simultaneously for growth", " Niraj Shah Said the CEO, co-founder and co-president of Wayfair, in the press release. "Q3 is another point of proof of this exactly."

Even if the drop in income and the drop in average control values suggest that fewer buyers frequent the Wayfair website, CNBC also stresses that buyers who buy from the company cannot necessarily buy less.

Wholesalers actually invoice less Wayfair for freight and raw materials due to the drop in costs, with Wayfair transferring these savings to customers by offering more competitive prices. Thus, while customers benefit from a drop in prices, this may have had a different impact on the overall figures of Wayfair.

That said, following the publication of the report on the results today, investors were still a little shaken. As CNBC reported this morning, Wayfair The stock dropped by 12% .

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