Have you heard about what store sells the best furniture? Probably that’s where you have come across the name “World Market”. It is an American based retail store which sells bunch of items from food, apparel, furniture and much more. It showcases different attractive deals and packages keeping their customers engaged and wanting to come back for more.
In this article, we will get to know what it is, how it started, its development throughout the years, its features and finally some of its policies. Let’s straight dive in!
What is World Market?
Are you on a hunt for a retail store which takes you on a world tour? Is that even possible? Sure is.
World Market is an American specialty retail store previously known as Cost Plus World Market. The term Cost Plus came from their pricing strategy of having all the goods priced with a margin of 10%. There are more than 259 stores all across America. This store features furniture, clothing, blinds, rugs, décor, gifts, beverages & international food commodities. Its headquarters is located in Alameda, California, USA.
How World Market was Started?
A furniture store owner, William Amthor was running his family owned store. For his store he imported furniture but ended up having an excess of wicker furniture. He decided to sell this surplus furniture in a rented warehouse in San Francisco.
He ended up selling out all of this furniture which left him with an idea of converting it into another business. That’s how Cost Plus stores came into existence in the first place.
How it has been doing since its opening? Let’s have a look!
Progress of World Market Through Years
The very first store was opened on October 23, 1958 by William Amthor & Licoln Barlett. It was opened at 2552 Taylor Street in San Francisco which was shut down permanently back in 2020.
In 1962, another cost plus chain was formed in Texas with a name of Cost Plus Imports. Later On, renamed as Pier 1 Imports and getting sold in 1966.
This idea was much a liked by the customers which allowed Amthor to open 258 stores in Washington, D.C. In 1990s, it shifted its branding from Cost Plus to a title we are familiar with “World Market”.
In February 2006, the quarterly revenue generated by the company was $125 Million. This sum exceeded to a number of $800 Million in revenue. In 2012, the company was taken over by Bed Bath & Beyond.
In 2014, company introduced a virtual marketplace with a name of Craft by World Market. Later in February 2021, Bed Bath & Beyond sold Cost Plus World Market to the Kingswood Capital Management.
Distinct Features of World Market
Hiring Policy for Employees
The employees at this platform are hired on the basis of some distinct qualities like can-do approach, positive vibe check, passionate in their work, hardworking and dedication.
The store hires employees for its home office, retail stores and distribution centers where the surroundings are welcoming and energetic to work.
Online Ordered Furniture can be Picked up In-Store
Do you like to save some money by not paying the delivery charges? This store is worth checking out. As you can place an order online and then pick up your order from your local store without having to pay for any shipping fees.
Pricing is Quite Low
The prime reason of the low prices at this store is that it works directly with the artisans all across the globe to be able to feature products in the stores. Due to this direct collaboration there are no middlemen involved, hence, cutting down the overall cost of the product.
Loyalty Program
This program is worth joining as you will always have an upper hand. Now a question comes, how? Because members always have the lead to all the upcoming sales even before the public. Members also do earn a reward of $10 on a purchase of $200.
Its Discount & Sales Policy
Coupons & Discounts
Do you have your very own world market credit card? If you are a habitual shopper at World Market then you should probably consider getting one. Because if you own this credit card you will get twice the points and also an additional 20% discount upon shopping. Ongoing discounts can also be seen on the header of their website to avail any of the promo codes.
Rewards
With this platform you can make the most out of your shopping ventures. You can join its rewards by creating an account, in-store or you can also do it online. After signing up you will get 15% discount on your very first purchase. With rewards you can also get free coupons and gifts. Furthermore, after placing an order if you pick that up in-store you will get 10% off on your total bill.
Shipping
Do you know how to get free shipping at World Market? Well, the people registered for their reward programs have no payable shipping fees.
Moreover, delivery fees depends upon your placed order but it usually starts from $8.95. Shipping of the goods only happens in the contiguous US. There are no shipping services available internationally.
Returns
During 60 days of purchase, return of unused items can be accepted. Goods can be returned in-store as well as online. Shipping & delivery dues are non-refundable. Customized and sale goods are not accepted for a return.
Conclusion
World Market is a retail store which has been around for ages. It started with furniture only but today it sells almost everything from around the world. Its strategies prove to be in the favor of its customers which is a real driving force for their sales. In future, they are also coming up with more strategies to be able to stay in the competition.
That brings us to an end today. Kindly, sound off in the comments below of how did you like this store? Thank you!
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