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Site Now Includes: Clearance Lot, Innovative Graphing Tool
SALT LAKE CITY, March 25 /PRNewswire-FirstCall/ -- Through newly formed partnerships, it is now possible to access more than 3.5 million used and 200,000 new vehicles though the website of Overstock.com, Inc. (Nasdaq: OSTK) at http://cars.overstock.com. The site has also just introduced two new features to help shoppers easily find discounted vehicles available in their local market.
Clearance Lot(TM) Highlights Local Bargains
Overstock's Clearance Lot algorithmically filters and sorts cars with the best prices located within a customer's local market, highlighting the greatest discounts for customers looking for a vehicle at a bargain price. Shoppers can save time and be among the first to learn about great deals in their area by opting to receive weekly e-mail updates of new Clearance Lot specials.
Graphing Tool Enhances Used-Vehicle Searches
The site displays an innovative graphing tool that illustrates search results for available used-vehicles, allowing customers to compare mileage and price. Shoppers can then refine their search results by variables such as engine size, vehicle color and other specific features, such as a navigation system. The graphing tool then arranges the data in a scatter plot graph that shows shoppers not only the numbers of used-vehicles that match their search criteria, but also plots the search results based on price and mileage, making it easy to spot the best deals quickly.
The redesigned Overstock Cars site eliminates the traditional negotiation process that many customers find uncomfortable. "Shoppers receive a written quote of discounted and guaranteed price," said Overstock Senior Vice President Jacob Hawkins. "In addition, Overstock Cars monitors the entire sales process for the customer to confirm that dealers deliver on their promises."
The site is now more consistent with the Overstock shopping site format, navigation layout, and price display. "During the last year we have paid careful attention to shopper feedback and adjusted the site accordingly," said Tyler Anderson, Director of Overstock Cars. "The new site is designed to make locating a car as easy as possible for bargain hunters and those simply looking for a better car-buying experience."
Overstock CEO Patrick Byrne added, "We see this as a natural extension of our business model: working to make it easy for consumers to find the best prices on everything they want quickly, easily, and with one unified experience."
Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation 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(R) is a registered trademark and Clearance Lot(TM) is a trademark of Overstock.com, Inc.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding number of cars listed on the website, magnitude of any discount, shoppers' ability to save time and learn of deals, the monitoring of the sales process, dealers keeping their promises, the ease of locating cars, and the types of business the company will pursue. Our Form 10-K for the year ended December 31, 2007, our subsequent quarterly reports on Form 10-Q, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
SOURCE Overstock.com, Inc.
CONTACT: media, Kirstie Burden, +1-801-947-3172, firstname.lastname@example.org , or investors, Kevin Moon, +1-801-947-3282, email@example.com, both of Overstock.com, Inc
Web site: http://www.overstock.com