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This statistic highlights Overstockcom’s Retail Gross Merchandise Value (GMV) from 2019 onwards, reported annually.
Overstockcom Inc. is an American internet retailer that mainly sells furniture and is headquartered near Salt Lake City in Midvale, Utah. Patrick M. Byrne founded Overstock.com in 1999. Initially, the company sold only surplus items on the online e-commerce marketplace and returned the items, clearing the inventory of at least 18 failed dot-com companies below wholesale prices. The company continues to sell household decoration, furniture, bedding, and many other products, but it also sells new products.
|Retail gross merchandise sales||$1.83||$3.20|
(All figures are in billions)
Gross Commodity Value (GMV) is the total value of merchandise sold during a particular period through a customer-to-customer (C2C) exchange site. This is a measure of the business’s growth or the use of the site to sell products owned by others. Gross Commodity Value (GMV) is often used to determine the health of an e-commerce site’s business. This is because the revenue is a function of the total goods sold and the charges charged. This is the most useful measure of comparison over time such as the current quarterly value compared to the previous quarterly value. GMV is also called gross merchandise volume. Both of them show the total monetary value of total sales.
Overstockcom’s retail gross merchandise sales increased from $1.83 billion to $3.20 billion in a year, marking a huge incline of 74.86% ($1.37 billion).
About the Company
The company is based near Salt Lake City, Utah, and was founded as a Utah limited liability company (“LLC”) in 1997, reorganized as a C Corporation in the State of Utah in 1998, and it was reincorporated in Delaware in 2002. The company launched its initial website in March 1999. The company offers a broad range of price-competitive products, including furniture, décor, area rugs, bedding and bath, home improvement, outdoor, kitchen, and dining items. It sells products and services through its Internet websites and mobile app. The company’s goal is to provide goods to furnish and accessorize “Dream Homes for All”, particularly for the target customers—consumers who seek smart value on quality, stylish merchandise at competitive prices. Overstockcom offers millions of products of which over 99% were in-line products (products in active production). It believes that the furniture and home goods market, which is highly fragmented and traditionally served by brick and mortar stores, will continue to transition to online sales as consumers become increasingly comfortable shopping online. The company continuously adds newness to its product assortment to meet the evolving trends and preferences of its customers and current trends. The company believes that the furniture and home furnishings market, which is highly fragmented and has traditionally been served by brick and mortar stores, will continue transitioning to online sales as consumers become increasingly comfortable shopping online. Additionally, the COVID-19 pandemic has shifted consumer migration to online shopping. Overstockcom regularly updates its product assortment to meet the evolving preferences of its customers and current trends.
Overstock.com Inc. is an American Internet retailer that primarily sells furniture and is headquartered in Midvale, Utah. Patrick M. Byrne founded Overstock.com in 1999. Their goal is to provide goods to furnish and equip “everyone’s dream home”, specifically for our target customers – Consumers seek smart value on quality and stylish products at competitive prices. We offer millions of products, of which more than 99% are online products (products in production).
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* Billed annually, local taxes extra.
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