If you’re shopping for furniture and/or home goods, you certainly have your option of in-store and online companies to choose from. One such online retailer you may have heard of, whether through targeted Facebook ads or commercials on TV, is Wayfair.
So, Wayfair seems like a reputable company, but you may be wondering- is Wayfair legit? You aren’t alone. Here is what you need to know!
Is Wayfair Legitimate in 2023?
Wayfair is a legitimate U.S. business, based in Boston, MA, and with approximately 16,000 employees in 2023. Wayfair has been in business since 2002, and in that time has established itself as a reputable online source of furniture, home goods, and appliances. That said, the company has been known to send out damaged or defective products.
To learn more about how reliable Wayfair is, if the furniture is considered good quality, why the prices are so cheap, and even if Wayfair is going out of business, read on!
How Reliable Is Wayfair?
Wayfair is a very reliable company, which delivers on its promise of quality goods at low prices.
According to MGTBlog.com, Wayfair has “won lots of awards that confirm its credibility.”
Further, they write, “You will find lots of articles about Wayfair in Forbes…which also makes it a legit and trustworthy business.”
I have personally purchased many items from Wayfair, including large pieces of furniture like a sofa, pantry, and a mattress, and I have found the items to be exactly as advertised.
Let’s examine some pros and cons of shopping with Wayfair, the better to help you realize that Wayfair is, despite its downfalls, a reputable company.
- A huge selection – 14 million different items, to be exact – of furniture, appliances, home goods, décor, etc.
- An easy-to-use, well-organized website and app
- Low prices, very affordable items
- Wayfair runs sales constantly
- Free shipping over $35
- Shipping is very fast (I’ve found it to be faster than stated!)
- Replacement parts ship for free
- Expert assembly can be added to orders for a fee
- Wayfair credit card, which you can use to earn points that turn into credits on future orders
- 30-day return policy
Now, some cons:
- There is no way of knowing what a product truly looks like, or looks like in your space until it arrives
- You will have to assemble most items, as they don’t arrive put together
- The buyer pays for return shipping
- When returning an item, it has to be back in its original packaging
- Customer service isn’t the best
- Items are known to arrive damaged, defective, or with missing pieces
As you can see, there are a lot more pros to shopping at Wayfair than cons, though the cons do have merit and should give you pause.
What is clear, though, is that the cons have nothing to do with the legitimacy or reliability of Wayfair.
Is Wayfair Furniture Good Quality?
Wayfair sells furniture at a range of price points, but even the cheaper items tend to be better quality than you might think.
Actually, Wayfair doesn’t make any of the furniture or other goods that it sells; rather, it’s all manufactured by other companies and then sold through Wayfair.
(This includes Wayfair branded items, like mattresses, which are manufactured by a different company and then given the Wayfair brand name.)
So, the quality of the furniture depends on the individual maker, rather than Wayfair itself.
But is Wayfair furniture of the same quality as handmade, antique furniture? No, it’s not likely.
But for what you pay, you should get at least a few years, if not five to 10 years, of use out of Wayfair furniture, depending on the item.
Why Are Wayfair Prices So Cheap?
According to MGTGBlog.com, one of the key reasons Wayfair can sell items for so cheap is because it’s online-based only.
Wayfair doesn’t have to pay salespeople, as it doesn’t have the real estate (and all the upkeep associated with that) that a Walmart or Target has.
Further, I would hazard a guess that Wayfair negotiates low wholesale prices from manufacturers, and the company is able to pass on the savings to customers.
Where Is Wayfair Located?
Wayfair headquarters is in Boston, MA, which is incidentally where the company was founded in August 2002.
It was founded by Niraj Shah and Steve Conine, who both attended Cornell University and who had founded two companies previously.
The “makeshift headquarters” were in Conine’s nursery, but before long, moved to Newbury Street in Boston.
Its current headquarters is 4 Copley Place, Boston, though Wayfair maintains a dozen fulfillment centers in America and Europe.
Is Wayfair a Chinese Company?
Wayfair isn’t a Chinese company, as it was founded, and maintains its global headquarters in Boston, MA.
However, Wayfair doesn’t manufacture any of the items it sells, and as such, the companies who do may have operations in China.
Take, for example, the Parrino Coffee Table with Storage, by Laurel Foundry Modern Farmhouse.
While it doesn’t say Made in China anywhere on the product page, under Specifications, there are additional documents.
The one, JiaMei TSCA Certificate, attests that the product is manufactured by Guangxi Dongchang Wood Industry Co., Ltd.
As well, its location is in Industrial Zone Dasi Town, Qinzhou City, China.
Is Wayfair Owned by Amazon?
Wayfair is not owned by Amazon, though the two do compete in the furniture, home goods, and home décor sectors.
Wayfair was founded in 2002 and was formerly known as CSN Stores.
It actually operates five branded websites: Wayfair.com, Joss & Main, AllModern, Birch Lane, and Perigold.
The Wayfair board of directors is currently co-directed by its founders, Niraj Shah and Steven Conine, who also share Co-Chairman duties.
Is Wayfair Going Out of Business?
Wayfair isn’t going out of business, as the company still reported $13.71 billion in revenue in 2021.
However, as of May 2022, Wayfair’s finances are in a decline, with sales at 14 percent less in the first quarter of 2022 than the same time the previous year’s Q1.
Orders from repeat customers fell 26 percent, and the number of active shoppers fell 23.4 percent.
Wayfair’s co-founder and co-chairman, Niraj Shah, was quick to reassure investors that “We are well-positioned to outperform and gain share from here.”
As well, he cited the company’s latest Way Day, Wayfair’s version of Prime Days, as evidence that Wayfair isn’t going away any time soon.
This year’s Way Day “included two of the four largest days in Wayfair’s entire history,” Shah said.
So, while Wayfair still has the cash on hand to keep going, and in fact, is planning to open a brick-and-mortar location soon, the company has to start performing better.
To know more, you can also read our posts on Wayfair return policy, is Wayfair going out of business, and is Wayfair safe.
Wayfair is indeed a legitimate company, having been in business since 2002, expanded globally, and even gone public in 2014.
All that said, the difference between 2021 and 2022 is major, with Wayfair declining in every key metric; overall, the company needs to pick up the slack and get customers buying again.