posted on March 1, 2005 11:44:52 AM new
“We are working on integrating search, so that when someone searches on our shopping site, what will be returned to him or her is all items in our shopping, BMV(Books, Movies, Video), and auction tabs that match the search. Unfortunately, this is going to take quite a bit of integration. But I think it can be done in 3-5 weeks. Since we have about 150,000 searches completed every day on our shopping site, this will dramatically increase the demand we see in auctions.”
-----Patrick Byrne, CEO
Overstock is clearly focused on bringing buyers to the Auction portion of the site and this commitment to share the 150,000 searches (per day) on the main site with the auctions is a major step. This is in addition to a major ad campaign focused entirely on the Auction portion of the site and specifically on bringing buyers to the auction site.
Even when this specific campaign expires, they will continue to heavily promote the site and given the integrated searches, the sellers on the auction portion of the site will continue to benefit.
I understand and respect the skepticism of those who experienced problems or simple lack of activity when they first launched. Some functions are lacking. But they are acting upon these issues and are extraordinarily receptive to suggestions for improvement.
This integrated site search stands in direct contrast to eBay’s understanding of and their overall relationship to their sellers. While eBay gives only half-hearted attention to integrating searches from the stores (the stores inventory, after all, belongs to the sellers, not to eBay), OS is willing to share buyers and essentially promote competition for goods that they own on the main portion of the site.
Best,
Michael
---------------------------
Internet Talk Radio
Everything eBay...and More. E-Auction-Air
posted on March 1, 2005 06:01:32 PM new
Since the auction site started months ago, Overstock has ignored their auction site in their national media advertising.
eBay has storefronts, while Overstock doesn't, so the search comparision is really irrelevant .
posted on March 1, 2005 08:50:37 PM new
Isn't it kind of strange on how everyone here, (including myself) stating that any auction site that wants to be a contender needs to advertise to be successful? We are finding out that even with a heavy TV add campain that overstock auctions simply isn't taking off like they and myself included had hoped it would. The buyers simply have not followed.
Too bad, I thought overstock would be the real competition for ebay. Now we realize just how much of a monopoly ebay has.
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Alive in 2005
sthoemke:
OS is spending $500K per week on advertising, TV & radio, specifically geared towards the auction site and buyers. This campaign started last Friday.
As for the announced search enhancement, it means, in short, that whenever anyone performs a search on the site (from the front of the site on in), the results pulled will include auction items. There are 150K searches per day on OS.
On eBay, an item in a store is, for the most part, invisible to search.
stonecold613:
If they had advertised the Auction site heavily w/o enough inventory (e.g. sellers) then it would have been premature.
One complaint that you hear about eBay is that there are too many listings and I believe it has merit.
I am well aware that 117k on OS is hardly a dent in eBay's business but then you have to consider it in the context of the site itself. With OS you have excellent bargain loving traffic,aggressive advertising & a unique marketing position.
Mindful of the site-wide search I mentioned above, doesn't it seem much more to the auction seller's advantage to be dealing on such a site?
OS doesn't have millions of items on its own; your items and mine will be part of their over-all merchandise mix and even then, the total SKU's will be a fraction of the 30 million on eBay. This, IMO, is very good.
Best,
Michael
----------------------------
Internet Talk Radio
Everything eBay...and More. E-Auction-Air
[ edited by pandorasbox on Mar 1, 2005 10:22 PM ]
posted on March 2, 2005 01:57:07 PM new
I think they need to do more than advertise they exist. It's going to take a lot to move buyers from ebay. Remember, from their perspective, the platform doesn't really matter except they are at ebay, so it is easier to stay there. If they go to overstock, they don't find as much or as good of deals perhaps, then it is back to ebay. OS has to do something to move that inertia. Remember when paypal was giving away money to get people signed up? Well, it worked, and now paypal is an integral part of the online experience. They need more than a contest to get people to the site. For now, as a seller, I am sticking with ebay because that is where the customers are, and I don't have time to play around and list elsewhere and not get results. I hope that changes though, I wish them well. More competition is good for sellers
I believe they will have to position themselves much the same way Target has vis-a-vis Wal-mart from a branding point of view...certainly on-line, they're more akin to Amazon. And maybe that's the model.
No matter who it is, profitability is only going to get more difficult for any internet retailer.
At least this is something we all have in common with the big guys.
Best,
Michael
---------------------------
Internet Talk Radio
Everything eBay...and More. E-Auction-Air
posted on March 2, 2005 03:54:40 PM new
My suggestions for Overstock:
- Fix the non-secure warning. Make site fully secure (https) or serve site from non-secure pages (http). Only the login actually needs to be secure.
- Overstock Storefronts needed (important to compete with other auction sites)
- Item upload by .csv file needed (important to compete with other auction sites)
- Ability to list prefilled information via UPC or ISBN (important to compete with other auction sites)
- Import auctions from other auction sites function needed (important to compete with other auction sites)
- Login by username would be nice
- Sell similar item link on curent auctions needed (important)
- Ability to delete sold and unsold items needed
- Leave feedback link on closed items pages needed (otherwise it is a 4+ page process)
- Batch delete on inactive invites would be nice to have
- Active stats on contest promotions would be nice to have
- Single page listing function would be nice.
- Revise item link on current auction needed (to make things easier for sellers)
- Much more sub-catagories (sooner the better...)
- Ability to offer 2nd chance offers would be nice
- A reference to the Auction Site on Overstock national TV advertising (Overstock is doing this now, so I've heard)
- Save favorite searches function and item notification function
- Homepages should have usernames in URL not user id #s.
- Auction checkout function (very important)
- Invoices need seller's payment instructions & return policy to be automatically included
- Make site fully Macintosh compatible (feedback forms won't work, etc)
- ALT tages on all Overstock served images.
- Accurate time/date stamps when relisting items (doesn't affect listing, but is rather annoying)
- Remove image preview step when uploading images (is it realy an unneccessary step that consumes time)
[ edited by sthoemke on Mar 2, 2005 03:56 PM ]
posted on March 2, 2005 04:16:03 PM new
Overstock is not addressing the the 2 biggest problems they have.
they cannot accept credit cards from overseas. and new members from other countries cannot buy or sell.
this is causing a lack of customers for existing sellers. if members from overseas cannot buy or sell,how do they expect to expand. i really dont think they are capable of growing.
i have been lied to by management. was told that the problems would be sorted in about 2 weeks. that was many months ago.
this site is going to go the way of the DODO BIRD.
