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SALT LAKE CITY, Oct 10, 2003 /PRNewswire via COMTEX/ -- Have you discovered the secret of "The Big O(TM)"? With the launch of its new advertising campaign, Overstock.com(R) (Nasdaq: OSTK) -- "The Big O" -- hopes more consumers answer yes to this question. The online closeout retailer known for its deep discounts on brand-name consumer goods announced today that it has launched its first nationwide advertising campaign. The aim of the campaign is to familiarize consumers with the selection and values available on Overstock.com, and to promote a modern and stylish image to match the popular contemporary brands that shoppers will find on the website.
"We sell fashionable, first-quality merchandise at incredible discounts," said Patrick Byrne, CEO of Overstock.com. "This campaign delivers that message in an appealing way."
"The Big O" equals Overstock.com
The Overstock.com branding campaign includes radio and television spots. Both the radio and TV spots open with a woman asking, "Have you discovered the secret of 'The Big O'?" She then explains that secret: "The Big O" is Overstock.com, an online outlet store that offers deep discounts on everything from designer clothing to electronics to housewares. The commercials also tout the fact that best-selling books are 25% cheaper on Overstock.com than they are on Amazon.com (Overstock.com in fact offers approximately 225,000 book titles at an average savings versus Amazon.com of more than 21%).
"Our campaign began slowly in August and will last for several more months, resulting in a multi-million dollar advertising spend by the end of the year. This is a departure for us because, to date, we have eschewed branding, opting instead to spend 99% of our advertising dollars online in pay-for-performance deals, then count on our customers (two-thirds of whom are female) to spread the word. We are so proud, however, of the development of our website, product selection, and the savings we offer that we decided it was time to stake out our claim as the premier e-tailer on the web providing outlet store discounts on department store products. We chose 'The Big O' because it alludes to Overstock.com's vast selection, is easy to remember, and seems to resonate with our audience," said Byrne.
Byrne concluded, "This is the second of four projects I mentioned during our second-quarter earnings conference call -- the first being our new search technology. These projects have taken more time and cost more money than I had anticipated. I think, however, that they will greatly enhance our business and the value we bring to our customers."
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 is a publicly traded company listed on the NASDAQ National Market System, headquartered in Salt Lake City, and can be found online at www.overstock.com.
Overstock.com is a registered trademark, and The Big O is a trademark of Overstock.com, Inc. All other trademarks are the property of their respective companies. In particular, Amazon.com is a trademark of Amazon.com, Inc., which is not affiliated with Overstock.com, Inc. None of these companies are a sponsor or affiliate of Overstock.com or a contributor to the content of Overstock.com's website. These trademarks are used only to identify a competing service.
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 the level of discounts offered by the company, amount to be spent on the advertising campaign, and the length the campaign will run. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, but not limited to, our limited operating history, our ability to manage growth, a general downturn in economic conditions, and such other risks as identified in our Prospectus dated May 29, 2002, filed with the Securities and Exchange Commission and all subsequent filings with the Securities and Exchange Commission, including, without limitation, our Form 10-K for the year ended December 31, 2002, and our Prospectus dated February 12, 2003, which contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.
SOURCE Overstock.com, Inc.
investors, Kathryn Huang, +1-801-947-3282, email@example.com, or media, Scott Blevins, +1-801-947-3133, firstname.lastname@example.org, both of Overstock.com, Inc. /Photo: http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a AP Archive: http://photoarchive.ap.org PRN Photo Desk, email@example.com
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