Overstock.com is an online retailer that has no storefronts. It sells and “offers discount brand name, non-brand name, and closeout merchandise…” (Rizzo) The merchandise that is sold includes but is not limited to household items, entertainment, clothing, designer accessories, electronics, and much more. They also have other sites that sell cars, another that “offers handcrafted products…” (Rizzo) and a site that “features products from small businesses across the United States…” (Rizzo)
Patrick M. Byrne saw the potential of selling excess inventory online. In 1999 Patrick M. Byrne took over Deals.com and renamed it Overstock.com and launched it. In 2000 Good House Keeping named Overstock.com the best place to find good bargains. In 2001 the …show more content…
Overstock.com launched the real estate site and launched international sales to Canada and the western European Union (EU). Overstock.com went fur free that year. They also partnered with the Wounded Warrior Project. The company celebrated their 10 year anniversary in 2009. The NRF Foundation/ American Express ranked Overstock.com number 2 in customer serve. They also increased their international reach to Hong Kong, Australia, and Singapore. This was also the year that they launched commercials in Canada. In 2010 all products made with exotic animal skins was removed from the site. They kept their number 2 ranking in customer service right behind L.L. Bean. The world stock department returns $50 million to artisans. The company launched the “main street revolution” initiative and actually launched a new main street store front a few months later. Overstock.com purchased the domain name O.co. John J. Byrne was elected to board of directors. Then in 2011 the O.co shortcut was introduced and so was the O.info consumer information portal. Overstock.com also go naming rights to the Oakland Coliseum which is home to the Oakland raiders and the Oakland A’s. The company also began shipments to Iceland, …show more content…
It has become our international name too.” (Shontell). Another question that arises is what is their marketing strategy? Their target market is female shoppers because women talk about their shopping experiences. Although “Most of our advertising is online.” (Shontell) the company also relies on word of mouth and the television campaigns. Another aspect to their marketing strategy is their private shopping club called Club O. To be a member of Club O you would pay “$20 upfront and get free shipping year round with a 5% cash back policy. If you get the Club O credit card, you get 8% cash back. These dollars build up in your account and you can spend them here, or with a number of other partners.” (Shontell) The company also does not want to be like other marketplaces that is basically a listing site. They want to give the consumer a good discount on the products that they
Patrick M. Byrne saw the potential of selling excess inventory online. In 1999 Patrick M. Byrne took over Deals.com and renamed it Overstock.com and launched it. In 2000 Good House Keeping named Overstock.com the best place to find good bargains. In 2001 the …show more content…
Overstock.com launched the real estate site and launched international sales to Canada and the western European Union (EU). Overstock.com went fur free that year. They also partnered with the Wounded Warrior Project. The company celebrated their 10 year anniversary in 2009. The NRF Foundation/ American Express ranked Overstock.com number 2 in customer serve. They also increased their international reach to Hong Kong, Australia, and Singapore. This was also the year that they launched commercials in Canada. In 2010 all products made with exotic animal skins was removed from the site. They kept their number 2 ranking in customer service right behind L.L. Bean. The world stock department returns $50 million to artisans. The company launched the “main street revolution” initiative and actually launched a new main street store front a few months later. Overstock.com purchased the domain name O.co. John J. Byrne was elected to board of directors. Then in 2011 the O.co shortcut was introduced and so was the O.info consumer information portal. Overstock.com also go naming rights to the Oakland Coliseum which is home to the Oakland raiders and the Oakland A’s. The company also began shipments to Iceland, …show more content…
It has become our international name too.” (Shontell). Another question that arises is what is their marketing strategy? Their target market is female shoppers because women talk about their shopping experiences. Although “Most of our advertising is online.” (Shontell) the company also relies on word of mouth and the television campaigns. Another aspect to their marketing strategy is their private shopping club called Club O. To be a member of Club O you would pay “$20 upfront and get free shipping year round with a 5% cash back policy. If you get the Club O credit card, you get 8% cash back. These dollars build up in your account and you can spend them here, or with a number of other partners.” (Shontell) The company also does not want to be like other marketplaces that is basically a listing site. They want to give the consumer a good discount on the products that they