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Part
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ShopHQ Competitors (8)
Dr. Patrick M. Byrne founded Overstock in 1999. Its 2018 revenue was $1.82 billion. The required information about Overstock is contained in the attached spreadsheet.
Overstock - Overview
- Dr. Patrick M. Byrne founded Overstock in 1999. In 2002, the company went public with a “Dutch Auction IPO.”
- Overstock suggests that it is an “online retailer and advancer of blockchain technology offering a broad range of price-competitive products, including furniture, home decor, bedding and bath, and housewares, among other products.”
- The company Introduced “augmented reality in shopping app for Android users using Google’s ARCore technology.”
- Overstock named Jonathan Johnson as its chief executive officer in 2019 and also launched the “world’s largest omnichannel AR and the 3D customer experience in e-commerce.”
- In 2018, the company had an estimated 2,060 full-time employees. At the end of 2018, Overstock offered 4.9 million products, of which more than 99% were in-line products, including over 25,000 private label products offered through its eleven private label brands.
- The company’s awards include Ernst & Young Entrepreneur of the year, National Retail Federation award, top 100 retailers award, and web marketing association award. Its target market is “consumers who seek quality, stylish merchandise at bargain prices.”
Revenue/Market Share
- Overstock 2018 revenue was $1.82 billion.
- It has an 11.98% {($1.82 billion ÷ $15.2 billion) × 100} share of the U.S teleshopping market.
Web Traffic Data
- In January 2020, total visits to desktop and mobile web of overstock.com stood at 24.65 million.
- The average visit duration to overstock.com is 4 minutes and 4 seconds, with visitors viewing an average of 5 pages per visit.
Conversion Rates Data
- After an exhaustive search through the public media, web analytics news sources such as Digital Commerce 360 and Guesswork, trusted website analytics sources such as Similarweb and Ahrefs, we were unable to find any pre-compiled add to cart rate or conversion rate statistics for Overstock. The report by Guesswork paid attention to Overstock Canada. The rest of the information on Guesswork was only available to registered members.
- All attempts to triangulate the information proved abortive as some data required to calculate the conversion rate figure, such as the number of monthly sales and number of monthly sign-ups were not made public by Overstock.
Website Marketing Promotions
- The company offers different sales, including the spring red tag sales, flash deals, clearance sales, and sponsored partners discount. Sponsored partner sales range from 15% to 60%, depending on which partner being patronized.
- Visitors who spend over $300 using the Overstock credit card without special financing earn about $30 welcome rewards on their first order.
- Overstock also offers coupon deals.
Customer Review
- Based on 1,643 ratings in 2019, Overstock has an overall rating above 3 stars on Consumer Affairs.
- As per the Better Business Bureau (BBB) reviews, customers have filled 613 complaints in the last 3 years. A breakdown of the complaints is 78 advertising/sales complaints, 63 billing/collections issues, 128 delivery issues, 10 guarantees/warranty problems, and 334 product/service complaints.
- The company also has an overall satisfaction rate of 8.8 out of 10 on Bizrate Survey and 4.2 out of 5.0 on Best Company.