Wayfair's Consumer Shift Affects Sales

This is a U.S. news story, published by MSN, that relates primarily to Wayfair news.

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home goods spending

TheStreet

•

Business

Business & Economics

Wayfair announces a harsh decision amid declining sales

Summary

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75% Informative

Home goods retailer Wayfair has been suffering from an alarming shift in consumer behavior.

As home prices in the U.S. remain high, and the housing turnover rate remains the lowest it’s been in 30 years , consumers have deprioritized home goods spending.

Wayfair also announced that it is closing its Technology Development Center in Austin , Texas .

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive

Hate speech