TECHNOLOGY

Wayfair creates its own shopping holiday

BY Deena M. Amato-McCoy

Wayfair is hosting an event that promises to offer prices and shipping perks that rival those offered on Black Friday.

The online furniture retailer will launch Way Day on Wednesday, April 25. The shopping event, which kicks off at midnight, will offer Black Friday-level prices for 24 hours on 70,000 products across the home furnishings, décor and home improvement categories.

The event will launch door-buster deals every six hours, and customers are invited to browse Way Day deals on their desktop or via mobile through the Wayfair app. Wayfair credit card holders who shop Way Day deals will also earn triple rewards on all purchases made with their card. These rewards can be redeemed on future orders on Wayfair retail sites, according to the company.

“We are looking to put a new retail holiday on the map that celebrates home,” said Steve Oblak, chief merchandising officer, Wayfair. “We have partnered with our suppliers to source the best deals on the most popular products across all categories of furniture, décor, outdoor living and home improvement, just in time for spring.”

Wayfair is not the first retailer to create a shopping holiday. Amazon hosted its third annual Prime Day shopping event in July 2017, a 30-hour shopping extravaganza for Prime members that generated an estimated $1 billion in revenue.

Since Amazon introduced its first Prime Day event in 2014, more retailers — including traditional companies — are getting in on the action by launching competing summer sales. Retailers like J.C. Penney, Sur La Table, Kohl’s and Office Depot to online competitors Newegg and 1-800-Flowers.com are among the many brands that have made efforts to grab their own summer sale wallet share.

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