EBay's new "Shop the Look" feature prompts the site's search engine to sort through listings and pull out items with design styles similar to a selected home furnishing, giving buyers a selection of items for consideration. Visual search technology is behind the feature's functionality.
Customers shop Wayfair.com for an array of more than 10 million housewares items, setting in motion an oiled delivery machine fueled by technology that includes advanced algorithms and managed by 1,600 employees in its Boston office. Each month, more than 11 million people from the U.S., Germany, Canada and the U.K. visit the site, purchasing items that are then drop-shipped directly from manufacturers. Last year, Wayfair made $18 million off $915 million, marking a 55% increase over the year before.
Home goods e-tailer Wayfair.com announced its first major acquisition on Friday, the purchase of New York City-based DwellStudio for an undisclosed amount. DwellStudio, which sells via catalog and online, is known for its modern home furnishings.
Fraudulent returns cost retailers about $9 billion annually, according to NRF, and mobile merchants spent $2.83 for every dollar of fraud last year, compared to $2 in 2011, according to a Lexis/Nexis study.
Online home goods retailer Wayfair.com will add daily deals to raise brand awareness and entice more shoppers to visit, said co-founder and CEO Niraj Shah. The new feature, called Daily Fair, will offer seven sales each day of the week, with each sale lasting for 72 hours.