Wayfair Competitors and Alternatives

An Overview of Wayfair

Wayfair’s origin story goes back to the early days of e-commerce. Back in 2002, founders Steve Conine and Niraj Shah spotted a business opportunity to sell home goods and furniture online after having a frustrating experience trying to shop for home items in physical stores.

So they launched an online store called racksandstands.com out of their Boston apartment. It focused specifically on selling racks and stands – pretty niche! But their hunch about home goods and furniture having strong e-commerce potential was right.

Revenues boomed since 2011 to over $12.2 billion in 2022. Wayfair became one of the largest online retailers in the world and a member of the Fortune 500. The company found particular popularity among millennial home owners looking to furnish their first homes.

These days, Wayfair is still seeing tremendous growth, employs over 16,000 people, and ships to customers across the US, Canada, and Europe. But it faces stronger competition from retail giants like Amazon, Walmart and IKEA who have expanded their own online home offerings.

Upstarts like online interior design service Modsy have also emerged as alternatives. But Wayfair keeps evolving with more proprietary brands and technologies like its 3D room planning tools. The online home goods market is massive, estimated to reach nearly $1 trillion globally within the next few years, so Wayfair still likely has its best days ahead.

Let’s take a look at a few of Wayfair’s biggest rivals:

Amazon

For starters, let’s look at Amazon. As with pretty much every retail category imaginable, the e-commerce giant is a major player in home goods too. Amazon has a massive selection of furniture, appliances, decor and more.

Their prices are competitive, especially for Amazon Prime members. And they offer ultra-fast shipping speeds, even for big bulky items. The one downside is that you can’t always try before you buy when shopping on Amazon. But they do have excellent customer service if you need to make a return.

Walmart

Next up is Walmart. We tend to think of them for groceries and basic essentials. But Walmart has grown their home offerings a ton online in recent years. Their website makes it easy to browse everything from couches and coffee tables to bedding and bathroom accessories. Walmart delivers great prices, and they also allow in-store pickup for many furniture items and home decor products bought online.

Target

Target is another major brick-and-mortar retailer that has an impressive online selection too. Shoppers can browse Target’s home section for furniture, storage solutions, kitchenware, rugs, lamps, pillows and everything in between. Target’s everyday prices are affordable. And for an annual fee, you can sign up for same-day delivery on a wide range of products.

IKEA

Founded in Sweden in 1943, IKEA is Wayfair’s biggest competitor in affordable and modern ready-to-assemble furniture. IKEA has over 400 stores globally across over 50 countries.

In FY23, IKEA generated €47.6 billion in sales. The iconic Swedish company perfected the model of selling modular, ready-to-assemble furniture at wallet-friendly prices. IKEA offers everything from living room seating to bedroom sets, office furniture, kitchenware and more. Customers can easily browse and order online, then pick up at their local store, which is more convenient than waiting for delivery.

Home Depot

For a wider range of home improvement products beyond just furniture, both Home Depot and Lowe’s present great alternatives to explore. These mega home improvement chains have hugely expanded their online selections in recent years.

You can now shop for appliances large and small, flooring, storage solutions, bathroom accessories, patio furniture and pretty much anything you need to upgrade your living space. The convenience of in-store pickup after ordering online is a nice perk too.

Lowe’s

Lowe’s operates over 2,200 home improvement stores across North America. The company has invested heavily in expanding its online selection and fulfilment capabilities in recent years. This includes introducing buy-online-pick-up-in-store and other omnichannel services.

In FY21, Lowe’s reported revenues surpassing $96 billion. Lowe’s presents a great option beyond just furniture. The national home improvement chain has massively expanded its online selection over the years to offer appliances, flooring, storage items, patio furniture, and pretty much anything you need to upgrade your living space. Lowe’s enables ordering online for delivery or in-store pickup, which provides flexibility.

Macy’s, Inc.

Macy’s has long been known as a department store giant. But in recent years, they have vastly expanded their online selection of furniture and home goods to better compete with e-commerce players. Macy’s operates over 700 stores, primarily in the U.S.

In FY2020, Macy’s generated net sales of $17.3 billion. Shoppers can now browse Macy’s website to find furniture across styles from contemporary to classic. Product offerings range from sofas and sectionals to full dining sets and bedroom collections. With frequent sales and coupons, Macy’s is worth checking for more affordable furniture options.

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Bed Bath & Beyond

For smaller home goods and decor, Bed Bath & Beyond (BBB) is another veteran retailer building up their e-commerce presence. BBB has over 1,000 stores across North America and reported net sales of $9.2 billion in FY2020.

On BBB’s website, customers can outfit their home with everything from cookware and small kitchen appliances to bath accessories, storage solutions, linens, furniture accents and more. BBB’s prices tend to be competitive, and they offer perks like coupon codes and buy-online, pick-up in-store options.

Costco

Finally, for bulk buys on furniture and home items, Costco is an alternative worth considering. In-warehouse, Costco sells various furniture collections and home decor at members-only discounted pricing.

While selection is more limited online, Costco does also feature some sofas, mattresses, accent chairs and the like for delivery. So if you’re looking for serious savings on big-ticket furniture items, check Costco’s offerings.

Williams-Sonoma

For high-end cookware and kitchen essentials, Williams-Sonoma is a great option. They offer everything from Le Creuset Dutch ovens to KitchenAid stand mixers, along with barware, table linens, coffee makers and more. The quality is second-to-none, though prices are on the pricier side. If creating a dream kitchen is your goal, the investments here pay off.

RH (Restoration Hardware)

If you lean toward a more Restoration Hardware aesthetic with antique-inspired furnishings, RH offers gorgeous collections across furniture, lighting, bathwares and decor. The vintage industrial vibe comes through in natural woods, leather upholstery, brass accents and artisan craftsmanship. As a luxury retailer, RH commands premium pricing, but the furnishings are built to last.

1stDibs

Finally, for truly one-of-a-kind vintage and antique finds, 1stDibs is a top online marketplace. It brings together a myriad of sellers and specialty boutiques from around the world. The selection includes furniture from various eras, rare collectibles, original art, and home accents you won’t find anywhere else. Be prepared to splurge for these exclusive pieces.

Ashley Furniture

For more traditional furniture collections, Ashley Furniture is a leading competitor. Headquartered in Wisconsin, Ashley offers everything from living room sets to mattresses and outdoor furniture. They operate over 700 showrooms globally, allowing customers to test out products in person. Ashley’s large manufacturing footprint helps maintain competitive pricing. Their focus on classic styles caters well to family-oriented shoppers.

eBay

eBay provides a unique online shopping experience through its marketplace structure. You can browse brand new, used and vintage home furnishings listed by various sellers worldwide. eBay’s selection is massive and includes rare, hard-to-find items. While shipping costs and logistics may be more complex, savvy shoppers can score deals and one-of-a-kind pieces.

Etsy

For handmade and truly unique furniture and décor, Etsy offers an online bazaar of goods from independent artists and craftspeople. Shoppers can find anything from reclaimed wood dining tables to macrame wall hangings. Products have an artisanal, bespoke feel. And shopping Etsy supports small business. Keep in mind that production and shipping times may be lengthy.

Haverty Furniture Companies

Havertys Furniture is an established brick-and-mortar retailer that has been around since 1885. Based in Atlanta, they operate showrooms across 16 states in the Southern and Midwestern regions. Havertys offers a more traditional in-store shopping experience along with an e-commerce site. Their competitive advantage is a trained sales staff, localized inventory, and free in-home delivery.

Grandin Road

Grandin Road positions itself as a high-end specialty retailer focused on home decor and outdoor living products. Owned by Qurate Retail Group, Grandin Road reaches customers via catalog and online. Their product aesthetic skews feminine and glamorous. Grandin Road drops new collections frequently but does not offer the one-stop-shop range of Wayfair.

Ballard Designs

Ballard Designs occupies a unique niche as a direct-to-consumer catalog and web brand specializing in the southern, coastal lifestyle look. They offer furniture, linens, decor and more geared for relaxed living. As a boutique brand under the HSN retail umbrella, Ballard Designs cannot match Wayfair’s vast supplier network and economies of scale.

Raymour & Flanigan

Raymour & Flanigan is the closest direct competitor to Wayfair as a pure furniture play. Founded in 1944, it operates over 100 showrooms across the Northeast and Midwest. In recent years, Raymour & Flanigan has heavily invested in e-commerce capabilities to complement its brick-and-mortar footprint. The company reported online sales growth of 50% in 2020, indicating it is gaining traction. Raymour & Flanigan matches Wayfair’s selection and rapid delivery while offering in-store access.

QVC

As an interactive video commerce pioneer, QVC leverages its multi-platform broadcast and web shopping ecosystem to sell home goods and fashion. Its affluent customer base and multi-billion dollar revenues make it a threat. QVC’s advantage is its storytelling ability to engage customers. However, furniture is a small portion of its mix compared to Wayfair’s sole focus on home.

Conclusion

Wayfair has certainly established itself as one of the go-to online retailers for home goods and furniture. However, as we’ve discussed, there are a number of strong Wayfair alternatives that consumers should also consider when shopping for items to furnish their homes.

Ultimately, the best site for your home furnishing needs will depend on what you’re looking for and your budget. Take the time to explore and compare options across multiple retailers. Features like free shipping, hassle-free returns, and responsive customer service should also factor into your decision. With some smart comparison shopping, you can likely find the inventory selection you want at the best available value.

Maya Nanda

I have always been fascinated by the inner workings of companies and industries. So I decided to study business to explore it more. My goal is to take all my research and turn it into cool stories that give people a better understanding of the business world.