Overstockcom’s Number of Orders Delivered (2020 – 2022)

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This statistic highlights Overstockcom’s Number of Orders Delivered, reported on a quarterly basis from Q1 2020 onwards.
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This statistic highlights Overstockcom’s Number of Orders Delivered, reported on a quarterly basis from Q1 2020 onwards.

Overstockcom’s Number of Orders delivered

The following table highlights Overstockcom’s Orders delivered, in some of the recent quarters.

Orders Q2 2020 Q1 2021 Q2 2021
Orders delivered 4,784 3,608 3,736

(All figures are in thousands)

Orders delivered represent the total number of orders delivered in any given period, including orders that may eventually be returned.

Overstockcom generates revenue mainly from retail business through their website when merchandise is sold and shipped to their customers. This revenue is recognized when ownership of the product passes to the customer, typically at the date of delivery of the merchandise. As such, customer orders are recorded as unearned revenue before the delivery of products or services ordered.

Overstockcom’s revenue increased 75% in 2020 compared to 2019, which was primarily due to increased retail product sales resulting from a 71% increase in customer orders, 111% new customer growth. This was even led by a strong repeat customer behavior, due to consumer migration toward online shopping in response to COVID-19 stay-at-home mandates.

For 2020, nearly all retail sales through Overstockcom’s website were from transactions in which they fulfilled orders through a network of approximately 3,000 third-party manufacturers, distributors, and other suppliers selling on their website. They even provide their partners, access to a large customer base and convenient services for order fulfillment, customer service, returns handling, and other services.

Overstockcom’s supply chain involves shipping directly to their customers from their suppliers or from their own warehouses. These warehouses primarily fulfill orders from direct sales of their partners’ owned inventory, including some customer returns of partner products. From here, orders are shipped at an average of 2,000 packages per day. During peak periods, approximately 3,200 packages are delivered per day. They even have a historical policy of free shipping on orders over $45. However, recently, they started providing free shipping on all orders, as an effective marketing tool, and they intend to continue to offer them as an overall marketing plan.

On a QoQ basis, the total orders delivered increased by 3.56%. However, on a YoY basis, there was a decline of 21.9% in the orders delivered. It is to be noted that both the statistic are for the quarter ended Q2 2021. Even in the most recent quarter, there was a decline of 13.89%. 

About the Company 

Overstock.com, Inc. is an American internet retailer, primarily selling furniture, headquartered in Midvale, Utah. In 1999, Patrick M. Byrne acquired the company Discounts Direct and relaunched it as Overstock.com. It is listed on the NASDAQ with the stock ticker OSTK and is primarily involved in 2 forms of business:

  • Retail Business
  • Medici Business

Through their online Retail business, Overstock offers a broad range of price-competitive products, including furniture, home decor, bedding and bath, and housewares, with their goal – “Dream Homes for All”. These products and services are sold through their websites.

The Medici business initiatives include their wholly-owned subsidiary, Medici Ventures, Inc. It conducts most of its business through its majority-owned subsidiary tZERO Group, Inc., a leader in blockchain innovation and liquidity for digital assets. Medici seeks to create and foster a set of products and solutions that leverage blockchain technology to generate efficiencies and increase security and control in six areas namely:

  • Identity management
  • Property rights and management
  • Central banking and currencies
  • Capital markets
  • Supply chains and commerce
  • Voting systems

Medici Ventures own a strategic majority and minority equity in various blockchain-related companies, each of which focuses on at least one of the areas mentioned above.

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