Overstock.com Investor

Press Release

Printer Friendly Version View printer-friendly version
<< Back
Overstock.com Shopping App Now Features Augmented Reality Using Apple’s New ARKit
iOS app update with AR technology available for download now in the App Store

SALT LAKE CITY, Sept. 19, 2017 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) announces the launch of augmented reality (AR) within the retailer’s award-winning iOS shopping app. Shoppers using a cell phone or tablet with iOS11 can launch the AR experience directly from the retailer’s app, which features only true-to-life-size 3D models in the highest resolution, giving shoppers the most accurate representation of the product as possible so they can see exactly how it will fit in their room.

A video accompanying this release is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/88f0a572-05df-4f14-999e-fa82fe65b4b0

With the new technology, Overstock aims to continue to completely change the way people design and decorate their dream homes by making the entire process as effortless as possible. Customers can now place thousands of top products in an AR environment alongside their own furniture and décor to see how the size, textures, and colors match their current room’s design and flow. They can also share pictures of their design through direct messages or social media, and add products to their cart or purchase pieces with Apple Pay with one touch, all without leaving the AR screen.

“Augmented reality is changing the way people shop for furniture and home goods forever,” said Overstock.com President Saum Noursalehi. “Shoppers no longer have to guess how a piece of furniture will fit in their room, or if a pattern will match their existing design style. Instead, they can use their phones to see the exact product in their actual room, helping them make the most informed purchase decision.”

Today, shoppers can view thousands of products sold on Overstock.com within the AR feature, including top-selling furniture, rugs, home goods and décor from leading brands, and will offer each user personalized recommendations within the app to fit their unique style. Eventually the online shopping pioneer expects to have millions of products across all categories available for use within the AR technology, and will be able to use machine learning technology to offer recommendations based on a customer’s existing décor with no more than a simple scan of their room within the AR environment.

“AR is another nail in the coffin for brick and mortar stores, as it removes one of the last remaining advantages physical stores have over e-commerce and solves several major friction points of shopping for home goods online,” Noursalehi continued. “Customers now have the assortment of a home goods store with millions of products and the convenience of seeing how those products fit in their own home before purchasing. And with recent advancements in artificial intelligence and machine learning, soon you will be able to completely decorate an empty room just by mentioning a design style, or see recommendations of products that will match the actual pieces in your home all within the AR environment.”

The new app feature is currently available on the iOS version of the retailer’s shopping app, and utilizes Apple’s ARKit, which is included in the iOS 11 operating system update. Android app AR functionality featuring Google’s new ARCore technology will follow when that operating system is released.

Overstock’s highly-rated shopping app has been awarded five consecutive Mobile App Awards from the Mobile Web Association. The app is available for download from both the App Store and Google Play.

About Overstock.com

Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ t0 platform : OSTKP) / Series B Preferred (OTCQB:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Worldstock.com is a store within Overstock dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.

O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock and OVillage are registered trademarks of Overstock.com, Inc.  O.biz and Space Shift are also trademarks of Overstock.com, Inc.  Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

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 all statements other than statements of historical fact.  Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-K for the quarter ended June 30, 2017, which was filed with the SEC on August 3, 2017, and any subsequent filings with the SEC.

Media Contact:
pr@overstock.com

Investor Contact:
ir@overstock.com

Primary Logo

Overstock.com, Inc.