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Buyster Buyout by US Wayfair

Buyster

US online retailer Wayfair LLC has bought out Australian start-up Buyster, but plans to keep the dollars flowing locally.

Wayfair, who already shared 50-50 ownership of Buyster with Australian technology investment firm Netus, felt that the current online retail market in Australia and the $165 million in funding it received in June meant that the time was right for a full buyout.

With research pointing to Australian consumers spending up big with offshore retailers, Wayfair CEO Nirak Shah says that it plans to give “local, selection-seeking consumers of home goods the answer they’ve been looking for, eliminating the need to tap online outlets outside of Australia for home goods.” In fact, when you visit the Wayfair site, a pop-up box noticing that you are an Australian customer welcomes you and offers to redirect you to Buyster site if you want local delivery.

Founded in January 2009, Buyster offers more than 35,000 products from 600 brands, according to Buyster Managing Director Kylie Little. “We’re selling many different styles of furniture for every room in the house, as well as lighting, rugs, items for pets, and most recently, tapware. With increasing investment from Wayfair, we expect to grow the same way the company has in the U.S., the U.K., and Germany – by offering consumers a vast variety of home goods today, while adding more categories and expanding the categories we’re already in moving ahead.”

Buyster’s expansion signals good news for the Australian economy as it plans to double its customer service team immediately and add more buyers to the mix (all from local Australian candidates). Buyster also partners exclusively with Australian suppliers, more than 400 already, and plans to add to that list of local suppliers on an ongoing basis.

 

Natasha Sholl

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Natasha is a content creator for The Media Pad, publisher of Power Retail. She has a background in law and communications and a passion for all things retail. Natasha loves analysing and problem solving all of the challenges and trends that come with new media and the online retail space. Natasha is a yoga addict and reluctant running devotee, both of which are offset by her serious caffeine addiction and obsession with baking. Follow Natasha on Twitter and Google+ or connect with her through LinkedIn

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2 Comments

    • Peter
    • 19th October

    Double the customer service team – how can you double a non existent team?

    Quite possibly the worst company I’ve ever had to deal with.
    Whenever you call them… straight to voicemail… leave a message but no point, as they don’t ring back.
    send emails to Customer service and no response…
    when you do finally get a response, no answer to the questions you asked.

    To be fair to them, they have credited us with ‘some’ money for the troubles but we’re still waiting for them to replace a tallboy with what we thought we bought as shown on their website – a dresser and mirror.
    Still to replace a broken side beam on the bed which is dangerous.
    weeks to wait for all the items.

    good items, great prices, SHOCKING CUSTOMER SERVICE (if you can even call it that).

    Still waiting… it’s been 3 months since we placed the order and we’re not even complete!

    Reply
      • jake
      • 23rd October

      What do expect from drop shippers?
      They own nothing, they merely sell goods from 3rd party wholesalers warehouse direct, any fool can do this, what on earth could they know about the goods they promote.. nothing…probably never laid eyes on 99% of the stock. How can you provide customer service about stock you don’t own, never seen and have no idea about…
      I would answer the phone either… just pass the customer back to the wholesaler and make them play retailer.. at but pay them wholesale…suckers…

      Reply

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