What is Overstock? Overstock Review

Overstock is a well-known online shopping platform and brand discount sales platform in the United States. It started with furniture and home furnishings, and now covers a wider range of categories, including 3C and clothing, and is gradually becoming more boutique. The platform targets middle- and high-income users, and most of the users are female.

Overview

The main consumer groups on Overstock are middle-class women, accounting for 76% of the total. Their annual income is $85,000 per person, which brings a broader development prospect to the platform. It is understood that Overstock started with home furnishing products. The average customer unit price of the platform is relatively high, basically maintained at $200, and the average customer unit price of home furnishings is $290. The average annual consumption of regular customers is $5,000, and the repurchase rate is twice a month.

On Cyber ​​Monday 2017, Overstock’s sales increased 24% year-over-year.

The number of unique visitors per month exceeds 30 million.

Merchants Category

Furniture and household items, bedding, jewelry and watches, 3C digital products, health and beauty, outdoor sports, clothing, shoes and hats, toys, etc.

Requirements and information for entry

1. American companies;

2. Tax ID number, either W8 or W9 is acceptable;

3. Insurance certificate;

4. US phone number;

5. Overseas warehouse shipments are given priority;

6. Monthly GMV of more than 50,000 USD, the more the better

Fees and Collections

Commissions for each category:

Clothing: 15%

Fashion + Accessories: 15%

Home decoration: 22%

Lighting fixtures: 22%

Furniture: 22%.

Transaction fee: 0.5 USD/transaction.

Once every two weeks, settled in USD.

Payment methods: Check, bank transfer, ACH (Automatic Computing System, US banks only).

Development History

-In 1999, deals.com was renamed Overstock.com.

-In 2001, Overstock was ranked among the top 10 largest retailers.

-On May 30, 2002, Overstock went public.

-In 2014, Overstock.com officially began accepting Bitcoin, becoming the first major online retailer to accept Bitcoin.

- Released tФ blockchain platform in August 2015.

-In 2017, Overstock officially began recruiting sellers in China.

-On January 6, 2018, Overstock received a $100 million investment from Quantum Fund, a fund managed by Soros.