Wayfair rolls out a new private label home furnishings brand targeting Millennial online shoppers with cost-saving CAD imaging.
BOSTON - Wayfair launched its own private label homefurnishings brand, Hashtag Home, to specifically target Millennials on Tuesday, June 18.
Also on June 18, Wayfair's co-founder and co-chairman Steve Conine, and chief financial officer Michael Fleisher described the new brand during their 11:30 a.m. presentation at the Jefferies 2019 Consumer Conference in Nantucket, Massachusetts.
Wayfair executives are targeting Millennials, who shop heavily online, with the new Hashtag Home private label program.
Asked about the trends they see in Millennial shopping, Fleisher said Wayfair is very excited about that demographic because they shop extremely heavily online. "The millennial segment is bigger than Baby Boomers. They are just turning 37-38 on the older side, and every day as the older generation ages out, the younger generation ages in." That's important, because the average Wayfair customer today is in the mid to late 40s, and 70 percent are women.
Conine pointed out that Hashtag Home is geared at Millennials, and said 95 percent of the line retails at under $300. "Our category is one you buy when you get married. Our current customer is 45, so we are courting younger customers with wedding registry." The registry, he says, gives insight into the customer and to those she invites into her registry.
Wayfair's new Hashtag Home private label program features home products that generally retail below $300.
The Hashtag Home collection includes Shop the Look, which launched with 15 curated rooms, all created with cost-saving CAD imagery to make it easy for consumers to mix and match an entire room for a fresh start. Online shoppers hover over and click on any of the items featured in the vignette to get more details including product specifications, dimensions, installation options, and reviews.
The brand also has a Shop by Room filter, offering furniture and complementary accent pieces, and there are also filters for Hashtag Home's collections of 2,000 product options in rugs, lighting, décor, wall art and more, as well as a shop by color feature.
The three pages of rugs in the collection are colorful and trendy, with most carrying sale prices.