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Difference Between Amazon and Wayfair

With the advancement in technology, online trade has led to the advancement of many businesses. The world has also become more accustomed to the idea of buying an item on an online platform which is then shipped thereafter. Amazon and Wayfair are some of the online platforms. Despite the fact that the two companies carry out their business on the online platform, there are some significant differences between the two. 

 

What is Amazon?

Founded on 5th July 1994 in Seattle Washington by Jeff Bezos, Amazon has grown over this period of time and is hence known to be the most valuable public company in the world, and is ranked closely to Apple and Alphabet. It’s also ranked as the world’s largest internet company and the second largest employer in the United States. It is a technology company focusing on artificial intelligence, cloud computing, and e-commerce. Due to its market capitalization, brand equity, disruptive innovation, and hyper-competitive advantage, it is one of the biggest technology related-companies. Its e-commerce marketplace is the largest in the world, hence it enjoys this competitive advantage. 

It has diversified into other markets such as electronics, publishing, apparel, jewelry, toys, software, cloud infrastructure services and film, and television studio, just to name a few. 

 

What is Wayfair?

Founded in 2002 by Niraj Shah and Steve Conin in Boston, Massachusetts, Wayfair is an e-commerce platform specializing in home goods. It has a total of six websites, namely AllModern, DwellStudio, Perigold, Joss &Main, Birch Lane, as well as the main Wayfair site. The company deals with home improvement goods, lighting, office and home décor, kitchen materials as well as bed and bath materials, among others. 

 

Similarities between Amazon and Wayfair

  • Both are e-commerce platforms
  • Both are public trading companies

 

Differences between Amazon and Wayfair

  1. Date founded

While Amazon was founded on 5th July 1994 in Seattle, Washington, Wayfair was founded in 2002 in Boston, Massachusetts. 

  1. Founders

Amazon was founded by Jeff Bezos. On the other hand, Wayfair was founded by Niraj Shah and Steve Corin. 

  1. Scope of products

Amazon sells a wide scope of products such as electronics, publishing, apparel, jewelry, toys, software, cloud infrastructure services, and film and television studio. On the other hand, Wayfair specializes in products such as home improvement goods, lighting, office and home décor, kitchen materials as well as bed and bath materials. 

  1. Revenue

Amazon has more revenue with an estimation of US$177.866 Billion as at the year 2017. On the other hand, Wayfair has less revenue, estimated to be US$4.72 billion as at the year 2017. 

Amazon vs. Wayfair: Comparison Table

 

Summary of Amazon vs. Wayfair

E-commerce platforms have simplified the act of selling as well as buying. While Amazon and Wayfair may be different based on the company profile, policies and also revenue, both have greatly contributed to major economic growth. 

 

Tabitha Njogu

Tabitha graduated from Jomo Kenyatta University of Agriculture and Technology with a Bachelor’s Degree in Commerce, whereby she specialized in Finance. She has had the pleasure of working with various organizations and garnered expertise in business management, business administration, accounting, finance operations, and digital marketing.

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References :


[0]Maki, Habib. Handbook of Research on the Evolution of IT and the Rise of E-Society- Advances in IT Standards and Standardization Research. IGI Global Publishers, 2018. https://books.google.co.ke/books?id=Av9oDwAAQBAJ&pg=PA201&dq=Amazon+and+Wayfair&hl=en&sa=X&ved=0ahUKEwjo7rCUu4TgAhXLx4UKHXx1AB0Q6AEIKDAA#v=onepage&q=Amazon%20and%20Wayfair&f=false

[1]Brea Cesar. Marketing and Sales Analytics: Proven Techniques and Powerful Applications from Industry Leaders- FT Press Analytics. FT Press Publishers, 2014.  https://books.google.co.ke/books?id=xYqtAwAAQBAJ&pg=PA219&dq=WAYFAIR&hl=en&sa=X&ved=0ahUKEwiQm_rNu4TgAhUGKBoKHVe1BmoQ6AEIQjAF#v=onepage&q=WAYFAIR&f=false

[2]Blackford Mansel. A History of Small Business in America- the Luther Hartwell Hodges series on business, society, and the state. UNC Press Books Publishers, 2003.  https://books.google.co.ke/books?id=LXfd250xxWEC&pg=PA189&dq=history+of+amazon+company&hl=en&sa=X&ved=0ahUKEwja8PmhvITgAhUR0xoKHYekAk8Q6AEIVTAJ#v=onepage&q=history%20of%20amazon%20company&f=false

[3]Image credit: https://upload.wikimedia.org/wikipedia/commons/thumb/7/70/Amazon_logo_plain.svg/500px-Amazon_logo_plain.svg.png

[4]Image credit: https://commons.wikimedia.org/wiki/File:Wayfair_logo_with_tagline.png

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