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Wayfair Aims to Cut Costs by $500M After Drops in Customers and Orders
After a quarter in which its revenue, active customers and orders dropped, home goods platform Wayfair is working to reduce costs by a half-billion dollars while also aiming to grow. It is doing this...
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Wayfair to Cut 10% of Global Workforce
Wayfair is cutting 10% of its global workforce, including 18% of its corporate employees. The home goods retailer said in a Friday (Jan. 20) press release that these cuts amount to about 1,750 and...
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Overstock CEO: We’re Winning Share From Wayfair and Bed Bath & Beyond
“2022 is a year I’m glad to have in the rear-view mirror. It’s not one we’ll forget, nor do we want to repeat it,” Overstock CEO Jonathan Johnson told PYMNTS. In reflecting on the various challenges of...
View ArticleIKEA Uses AI to Transform Call Center Employees Into Interior Design Advisors
IKEA is providing training to call center employees to transform them into interior design advisors. The initiative by the Swedish furniture giant is aimed at expanding its range of home improvement...
View ArticleReport: Shein or Temu Could Benefit From Merger With Wayfair
Shein or Temu reportedly could be potential merger partners for Wayfair. Either of the two Chinese-founded eCommerce companies could be a good fit for a merger with the Boston-based home goods...
View ArticleWayfair Cuts 13% of Workforce While ‘Right-Sizing Its Cost Structure’
Wayfair is laying off 1,650 employees as part of its efforts around “right-sizing its cost structure.” The cuts amount to about 13% of its global workforce and 19% of its corporate team, the furniture...
View ArticleRetailers Hope AR and GenAI Energize Consumers and Get Them to Buy
The commerce landscape is experiencing unprecedented growth, driven by the rapid expansion of digital marketplaces and eCommerce platforms. This surge comes as little surprise, as consumers are...
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Wayfair Mulls Rewards Program as eCommerce Marketplaces Rethink Loyalty
As eCommerce marketplaces look to gain back share from industry giants, Wayfair joins those looking to in-house rewards programs to make its offerings more relevant to shoppers. On a call with analysts...
View ArticleJoybird Uses 3D Scans as Homeware Brands Tap Immersive Tech
As homeware brands tap mixed-reality digital capabilities to build trust in their eCommerce platforms, Joybird is using 3D room scanning to build consumer confidence in its products. The La-Z-Boy-owned...
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Three-Quarters of Retail Customers Expect Omnichannel Coupons
As retailers look to secure consumers’ loyalty both online and in stores, PYMNTS Intelligence research finds that digital deals and discounts go a long way toward meeting shoppers’ evolving...
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