Salt Lake City (PRESS RELEASE – November 28, 2010) – Overstock.com, Inc. (Nasdaq: OSTK) reported that since the launch of its Main Street Revolution initiative in June 2010, it has signed up more than 117 partners and given a boost to small, women, and minority-owned businesses across the country. Main Street Revolution is a national marketing and distribution channel for producers of consumer products, providing the opportunity to sell their products on Overstock.com. The Main Street Store averages over 11,000 visits per month.
Main Street Revolution Momentum Highlights
- Since June the Store launched with about 185 products, and today carries more than 28,000products from across the country.
- Product categories have expanded to twenty categories including: home and garden; jewelry and watches; clothing and accessories; health and beauty; gourmet food; pet supplies; craft and sewing; and baby.
“Main Street Revolution’s big draw for home-grown, small businesses is that it allows them to lower their marketing and supply chain costs and offers them national visibility for local and specialty goods. It’s a testament to this model that at least five of our partners have quit their day jobs to pursue their small business dreams full-time, and at least ten of our partners have had to hire additional help to keep up with demand,” said Overstock.com President Jonathan Johnson. “At a time when small businesses are still feeling the sting of the recession, Main Street Revolution empowers small businesses to thrive and keep the spirit of entrepreneurship alive.”
To reach locally owned businesses, the Store has thus far worked with the Salt Lake Chamber and the Utah Hispanic Chamber of Commerce and is expanding to other chambers nationwide as well.
Headbandz, a Main Street Revolution vendor that sells baby accessories in Lehi, Utah, has seen tremendous growth in sales. They joined the Main Street Revolution initiative in August 2010 and now average between 90 and 100 orders every week.
“Joining the Main Street Revolution Initiative has given us immediate nationwide visibility and opened our eyes to what our potential really was,” said Headbandz owner Jennifer Roma. “Our overall sales have increased dramatically, and we’ve learned a tremendous amount about how online sales work. It’s also been wonderful to be able to say we sell our products on Overstock.com.”
Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com. Overstock.com regularly posts information about the company and other related matters on its website under the heading “Investor Relations.”