The Most Important Number From Wayfair's Second Quarter

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New customers are flocking to the online home goods platform by the
millions.

Wayfair’s (NYSE: W) second-quarter earnings report showed a sharp
acceleration in revenue growth and much improved performance on the
bottom line. 

But the most important number Wayfair reported was the acceleration in
new active users. Usually, Wayfair depends on repeat purchases from
existing customers to drive growth, but that changed in the last quarter,
as orders from new shoppers grew faster than orders from repeat
customers. 

Management shared insights about these new customers’ purchase patterns
during the second-quarter conference call, which could signal an
inflection point in Wayfair’s growth. …

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