What is Overstock? Overstock Review

Basic Introduction

Overstock was founded in 1999 and has nearly 20 years of successful e-commerce experience. It is a well-known online shopping platform in the United States. It started with brand discount sales, and initially focused on home furnishings. Now its product coverage has expanded to include 3C and clothing. The user group of this platform is middle- and high-income earners, and most of the users are female, with a relatively high-end positioning. At present, Overstock's products have been sold to 180 countries and regions around the world.

Female consumers account for 76% of the Overstock platform, with an average annual income of US$85,000. Their purchasing power is relatively strong. Overstock targets middle- to high-end female groups, with a higher average customer spending and a higher repurchase rate.

Main categories

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

Overstock Entry Requirements

1. American companies

2. Tax ID, either W8 or W9 is fine

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

Overstock's requirements are quite special. They will require proof of insurance for shipments outside of overseas warehouses. Both Chinese and American insurance are acceptable.

Platform Fees

The transaction fee of Overstock platform is 0.05 USD per transaction, and the settlement date is fixed every two weeks. The payment methods support check, bank transfer and ACH automatic settlement system, but ACH is only available to US banks.

commission

Apparel 15%;

Fashion accessories 15%;

Home decor 22%;

Lighting 22%;

Furniture 22%;

Overstock Shipping

FBA: Packages cannot carry Amazon brand logos

Overseas warehouse self-delivery: official recommendation

Domestic delivery: No objection, but delivery speed is an important criterion for buyers to judge the seller's service

Returns and exchanges: handled by the seller

Customer service: Reply within 24 hours (1 working day)

course

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

In 2001, Overstock was ranked as one of the top 10 largest retailers.

On May 30, 2002, Overstock went public.

As of July 14, 2012, the company's total market value was US$155 million.

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

Overstock launched the 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.

In May 2018, the US e-commerce platform Overstock launched 17 new private brands, covering more than 16,000 furniture and home decoration products. Overstock is not only a retailer, but also a platform for selling low-priced products, mainly in the field of home furnishings.

References

• 1. Overstock’s development history: global e-commerce network [cited on 2018-03-12T16:00:00.000Z]
• 2. Overstock investment information: Sohu.com [cited on 2018-03-12T16:00:00.000Z]
• 3. Overstock blockchain business: Sohu.com [cited on 2018-03-12T16:00:00.000Z]
• 4. Overstock launches tФ blockchain platform: Sohu.com [cited on 2018-03-12T16:00:00.000Z]