Word: overstock
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...watches, says that while retailers recognize the continuing value of portal exposure, they know that they are ultimately responsible for making sales. "If Yahoo sends me 1,000 customers and I can't close the deals, then that's my fault," he says. The $3 million that Overstock spent last year to promote products on Yahoo Shopping, MSN Shopping and AOL Shopping together generated a quarter of the company's $120 million in consumer sales, Byrne says. Overstock doesn't share revenue with any portals...
...appliances alongside seasonal recipes. Both sites have a quick-shop feature so you can plug in item numbers from a print catalog to jump to specific products. Price-conscious shoppers should check out OVERSTOCK.COM, a clearance site for excess inventory (bed and bath, appliances, furniture) from brand-name manufacturers. Overstock sells lamps too, but you will find many more options at LIGHTINGUNIVERSE.COM, which organizes its wares by type (table lamps, pendants) and then subdivides by style (Art Deco/Retro, Craftsman/Mission).For gizmos, try TECHNO SCOUT.COM or BROOKSTONE.COM. Too much hardware? Make a softer statement with something from flower merchant CALYXANDCOROLLA.COM...
Another firm raking in cash from the tech downturn is Overstock.com based in Salt Lake City, Utah. Overstock is the world's first purely e-tail site to break even, a feat achieved after burning through just $27 million in venture capital--pocket change in Silicon Valley. Overstock, which buys surplus tech products at liquidation prices and sells them to consumers at an average 60% off the retail price, is best known as a "vulture" site, raking over the bones of deceased dotcoms and snapping up $44 million of their equipment...
...inventory of former dotcoms accounts for only 20% of Overstock's sales. It's also profiting from other ailing sectors of the tech world. Remember that $50,000 Cisco server that brought $2,500 on eBay? One just like it went on sale for $6,900 at Overstock.com having cost the site $3,500. Total sales on the site leaped from $4 million in November 2000 to $9 million in December, the crucial month for e-tailers...
...version of VCE: resell surplus tech hardware not only to consumers but also to mom-and-pop retailers for around 40% off the wholesale price. By comparison, mega-stores like WalMart usually get at most a 10% discount from jobbers or liquidation agents. Couple that with Overstock's tiny minimum wholesale order--six units--and it appears that Byrne is trying to play Robin Hood to America's 130,000 small retailers. "These guys are getting put out of business by WalMart because they get lousy service from manufacturers," he says. "Now for the first time they'll be buying...