Overstock.com
Company: Overstock.com, Salt Lake City, UT
Company Description: Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale on the Internet. Overstock.com, headquartered in Salt Lake City, is lead by CEO Patrick Byrne and received the #2 spot in customer service rankings among all US retailers, according to rankings in the 2008 NRF Customer Service Survey in 2008.
Nomination Category: Sales Awards Department Categories
Nomination Sub Category: Sales Department of the Year - All Other Industries
Nomination Title: Overstock.com Sales Department
Tell the story about what this nominated department achieved since the beginning of July last year (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
Value, variety, and a superior customer experience were the key factors that
helped the Overstock.com sales team achieve a 6% increase in revenue and a 14%
increase in gross profits in 2010. Just as impressively, the Overstock sales
team achieved this while cutting sales and marketing costs by 4%.
An online retailer, Overstock.com offers a wide variety of high-quality,
brand-name merchandise at discount prices, including bedding, home decor,
appliances, watches, jewelry, electronics, sporting goods, clothing and shoes.
They give customers an opportunity to shop for bargains conveniently, while
offering manufacturers, distributors and other retailers an alternative sales
channel. Started in 1999, the company has grown to an $800 million revenue
generating organization with over 1,500 employees.
Behind this year’s growth have been a number of innovative sales initiatives,
such as the Main Street Revolution. This unique program benefits small
businesses by allowing them to lower marketing and supply chain costs, and
offering them national visibility for local and specialty goods. Launched this
summer with about 185 products, by November, the sales team had signed up more
than 117 partners with more than 28,000 products. Today, the Main Street Store
averages over 11,000 visits per month.
Other initiatives in 2010 that helped drive sales included the Overstocktober
Daily Dig online sweepstakes, the launch of Eziba.com, and the launch of
international sales to 32 additional countries, increasing the number of
countries in which Overstock.com is selling to over 90 worldwide. The
sweepstakes marked Overstock’s 11th anniversary and drew customers to the
website with a $10,000 grand price and 10 first prizes of $2,000 website
shopping sprees. Eziba.com is a private sale website that features exclusive
deals on the latest home décor products from many leading brands. The site is a
win-win-win for customers and retailers in search of different avenues to sell
product, and of course, for the Overstock sales team.
Adding to their list of accomplishments was the announcement that Worldstock,
Overstock.com's responsible department for handcrafted products created by
artisans from developing nations and in rural areas of the United States,
crossed the $50 million mark in payments made to artisans and the groups that
represent them. Worldstock currently features merchandise from Bali, China,
Colombia, Ghana, Guatemala, India, Indonesia, Israel, Mexico, Morocco, Nepal,
Pakistan, Peru, Tibet, Thailand, Tunisia, US, and Vietnam, to name a few.
Worldstock distinguishes itself from its competitors because it returns between
60 percent and 70 percent of the sales price to its suppliers - typically
impoverished or handicapped artisans, co-ops of such artisans, or groups working
with such artisans.
In recognition of these accomplishments, Overstock placed #9 on Glassdoor’s 2011
list of the top “50 Best Places to Work” in the US. The company also ranked #2
in the Top Ten National Retail Federation/American Express competition for the
best US retailer, online or offline, for the second year in a row.
List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-generalNews&nyo=0&TID=FOOT:CI:PR
Provide a brief (up to 100 words) biography about the leader(s) of the nominated sales organization:
Stormy Simon attributes her success to the “school of hard knocks.” Ms. Simon
grew up in Tooele, UT and spent the 1990’s in Salt Lake City working in a
variety of industries. She joined Overstock.com in 2001 as a sales agent,
moved on manage B2B, and then created the Book, Music, Video & Game
department. Beginning in 2003, Stormy wrote and produced the company’s well
known television ads, starred in a number of commercials herself, and has
managed all advertising buying. In 2007 Stormy took over and rebuilt Customer
Care into the #2 in Customer Service among all US retailers (online and off)
according to an annual National Retail Federation/AMEX poll. Since 2009
Stormy has been Chief Marketing Officer for Overstock. Stormy has moved back
to her hometown of Tooele, Utah, and started her own farm for mini-animals,
affectionately referred to as the “McFarm.” Stormy, her two sons, four dogs,
two cats, and sixteen animals including pigmy goats, mini-horses, a mini-
donkey, and ducks now call her farm home. Stormy is a single mom whose role
models include her mother and Erin Brockovich.