In its second-largest acquisition, Amazon buys the company for $970 million.
Online discount retailer Overstock.com has added a comparative product pricing application, enabling shoppers to view product prices at other online stores.
Overstock.com has deployed an application that allows shoppers to view and compare product prices on other sites. The comparative pricing tool is currently available on Overstock.com in seven categories including electronics and books and media.
“Consumers come to Overstock seeking the best deals. Now we can give them additional confidence in their purchasing decisions by offering them a confident shopping experience,” says Patrick Byrne, chairman and CEO. Overstock is No. 29 in the Internet Retailer Top 500 Guide (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name).
For example, when shoppers click on a product page with the comparative pricing tool, they see a box on the upper right-hand side with other retailers’ pricing for the same product. Clicking the links in the comparative pricing box takes shoppers to the product pages at the other stores. The Onsite Comparative Pricing application is from WinBuyer Inc.
For the third quarter of 2009, Overstock reported a sales increase of 4.4% to $195.1 million from $186.9 million in the prior year quarter.