Wayfair is making a major move from online to physical retail by opening a new store in Wilmette.
The store in the newly revamped Edens Plaza has created jobs and is attracting customers who know the brand well.
Excited shoppers began lining up at 5:30 a.m. for the 10 a.m. grand opening.
Wayfair Opens New Store in Wilmette, Creating Jobs and Community Excitement
Fox22 reported that the 150,000-square-foot space, once home to Carson Pirie Scott, has been transformed with Wayfair's signature purple decor and modern home furnishings.
Residents are thrilled about the new addition to their community. Nina Dominguez, a resident of Glenview, was among the first shoppers. "I live close by, and I wanted to see Wayfair. I've ordered online as well. It's my favorite store," said Dominguez.
Wilmette Village President Senta Plunkett expressed her excitement about the store's opening and emphasized its economic boost. She noted that Wayfair is now Wilmette's key sales tax contributor, creating over 200 jobs.
"I'm confident that Edens Plaza will soon be fully occupied with Wayfair here, and we're excited to welcome visitors to our wonderful Wilmette," Plunkett said.
Customers find that the new store offers more than just a shopping experience. With its in-store restaurant, The Porch, which serves alcohol, the store is set to become a social hub and gathering spot for the community.
Franchise Herald recently reported that Wayfair has opened a new store in Wilmette. The store, described in a press release as "a one-stop shop for all things home," will offer furniture, home decor, housewares, and home improvement products for every style and budget. It will also feature a restaurant called The Porch.
The store will display various room styles, including modern, glam, and bohemian. Unlike Ikea, Wayfair's physical store will have a curated selection of 10,000 items, a small portion of the 30 million online products.
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According to Forbes, The Wilmette store is not Wayfair's first step into brick-and-mortar retail. The online retailer has previously opened several Wayfair pop-ups and stores for its Joss & Main and AllModern brands.
Wayfair is dedicated to offering customers exceptional shopping experiences, both online and in-store. The new Wilmette location marks a significant milestone for the company, solidifying its status as a top destination for home goods.
The store is designed to be inspiring and practical, helping shoppers create ideal living spaces.
Wayfair's Wilmette Store Opens Amid Strong Financials
Wayfair's new Wilmette store opens following the company's latest financial report. Wayfair reported $12.0 billion in net revenue for 2023 and $2.7 billion for Q1 2024, a 1.6% year-over-year decline.
In the U.S., Q1 revenue was $2.4 billion, down 1.0%, while international revenue dropped 5.8% to $338 million. Gross profit was $819 million, 30% of total income, and net loss narrowed to $248 million.
CEO Niraj Shah noted, "Our revenue was down just under 2% year-over-year for Q1, marking our sixth quarter of share gain. Shoppers are increasingly choosing Wayfair."
Following the pandemic boom, Wayfair has implemented layoffs to cut costs, including a 13% reduction in January 2024. This restructuring aims to save $280 million. Wayfair's shares have risen nearly 6% year-to-date and over 75% in the past year.
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