Wayfair 201

Our previous blog provided a brief introduction to the online platform Wayfair; from a buyers perspective it is an online shop where you can buy furniture and home items and from a sellers view point it is a place to sell these items to a large selection of customers searching for these particular goods. If you are one of those sellers then we can show you how to start selling on Wayfair.

From the perspective of the seller Wayfair is different from other online retailers, technically it is not a marketplace like Amazon instead it has IP or direct supplier partnerships with its brands. There are aspects of selling on this site that make it much easier than being a seller on other platforms. However, to make the most of the potential market of 20.29 million active customers (as reported during the last fiscal period) the insights from a company providing online sales management services are essential.

Getting Started:

To get started on Wayfair it is as easy as registering as a seller and getting approved; the process is called “partnering”, which fits with their model of partnerships between them and brands.  There are three sections that needs to be completed on their online registration process, it asks some basic personal information and business details.

1.     Primary Contact

2.     Business

3.     Partner Requirements

The Fine Print:

And it is that easy but there are a few more details worth noting. There are a set of requirements put forward as conditions for selling through the platform.

a)     The seller has to set wholesale prices for their own products.

b)    All orders must be shipped on Wayfair's shipping accounts even less than truckload orders.

c)     Participation in the allowance programme is part of the process.

d)    The seller must have a certificate of insurance.

e)     Inventory must be updated, at least, on a daily basis.

Hints and Suggestions for Success:

Once the application has been accepted then here are a few Do’s to set you up for success.

Merchandising

All images should be high quality. The specifications, installation guides and photographs should all be the best up-to-date images and texts possible as this is the only thing that marks you as different to your competitors. There should be multiple images including silhouettes, lifestyle, close-ups.

The title should actually state what the product is and include a good selection of SEO (search engine optimisation) terms

The description should include at least 6 bullet points. It should include SEO terms which are embedded in a strong and rich description. 

Selection of Products

Successful partner brands generally have at least 50 to 100 products in their catalogue, the rule of thumb is more products result in more sales. This is because Wayfair has grown to the point where small suppliers are not preferred. You need a selection that is large enough to be meaningful to Wayfair.

Stock 

Stay in stock. This applies particularly to the top sellers. There is another rule of thumb here, keep 20 items in stock which do 80% of the business. 

Price

The big reason why sellers are not successful is that they have overpriced their products, customers on e-commerce platforms are very price sensitive - a price comparison is only a click away.

Ensure that your prices are competitive.

How the London Bridge Project Can Help to Deliver Success

The London Bridge Project (LBP) is a leading sales and management consulting firm that provides both amazon consulting services and amazon sales support for businesses looking to grow exponentially within the biggest marketplace in the world. We offer a complete end-to-end service for Amazon based businesses, which includes providing valuable insights into Amazon sales data and a pipeline of under-explored opportunities within your niche.

If you would like to learn more about how the London Bridge Project can help your online business, make sure to contact a member of our team today to discuss your requirements.