Beyond Relaunches Overstock.com With Focus on Deals, New Product Categories
Overstock.com is back online, promising savings of 30% to 70% and a growing range of product categories. The relaunch of the brand was announced in a Thursday (March 28) press release by parent company Beyond, which also owns the online retail brands Bed Bath & Beyond and Zulily. In “phase one” of its relaunch, Overstock.com features furniture, patio, […]
The post Beyond Relaunches Overstock.com With Focus on Deals, New Product Categories appeared first on PYMNTS.com.
Overstock.com is back online, promising savings of 30% to 70% and a growing range of product categories.
The relaunch of the brand was announced in a Thursday (March 28) press release by parent company Beyond, which also owns the online retail brands Bed Bath & Beyond and Zulily.
In “phase one” of its relaunch, Overstock.com features furniture, patio, rugs and jewelry — a product assortment that complements that of the Bed Bath & Beyond business, Dave Neilsen, CEO of Overstock, said in the release.
Over the next several months, Overstock.com will add more categories and vendors, Neilsen said.
Together with its expanded product selection, the brand will focus on “crazy good deals,” according to the press release. These offers will be available on the brand’s new website, and trending deals will be searchable on X (formerly Twitter) with the hashtag #OverstockCrazyGoodDeals.
“The relaunch of Overstock.com comes at a time of significant growth and innovation for the company, as it continues to expand its product offerings, invest in technology, and put our customers and vendors as our priority,” Marcus Lemonis, executive chairman of Beyond, said in the release. “We believe that the return of legacy categories and the establishment of new ones will assist in the mandate to grow the active customer file and increase market share overall for Beyond.”
Beyond’s relaunch of Overstock.com comes three weeks after the company acquired Zulily, saying the move will boost its position in the off-price market.
Zulily, a flash sale promoter and eCommerce retailer, closed its doors in December. When announcing its acquisition of the brand, Beyond said it expects the new Zulily site to be fully functional by the end of the second quarter.
“This acquisition doubles down on our belief in the off-price market, and its importance to building our business, improving our margin profile and growing our customer file,” Lemonis said when announcing the acquisition on March 7.
In another recent move, Beyond said Wednesday (March 27) that it has partnered with X to promote Overstock, Bed Bath & Beyond and Zulily on the social media platform with short- and long-form lifestyle entertainment content and special promotions around key events and holidays.
The post Beyond Relaunches Overstock.com With Focus on Deals, New Product Categories appeared first on PYMNTS.com.