In its second-largest acquisition, Amazon buys the company for $970 million.
Black Friday sales increased 161% over last year.
Reproduction oil painting retailer OverstockArt.com boosted Thanksgiving weekend sales by 74% compared with last year, making November the most successful sales month since the company launched its e-commerce site in 2002.
Record Black Friday sales figures—revenue jumped 161% and order volume increased 96% compared with last year—contributed to a strong month, the retailer says. Plus, OverstockArt experienced a 51% increase in sales and 29% jump in orders on Cyber Monday, which is the first workday after Thanksgiving. “We are extremely pleased with the incredible numbers we have seen during the start of the holiday season,” says David Sasson, founder and CEO. “This is an astounding increase in sales for an e-commerce retailer of any kind.”
OverstockArt.com, No. 807 in Internet Retailer’s Second 500 Guide, attributes much of the growth to site enhancements it implemented in recent months, including simplifying and streamlining product pages, a larger product selection that reflects customer feedback, and enhanced product images.
The retailer, which has been in business since 2002, also says its e-mail list is 30% higher this year than last. Sasson says that gain came from an improved site navigation that leads shoppers more quickly to an e-mail registration page. In addition, the e-retailer is crafting e-mail marketing messages with offers that are more relevant and timely than they were a year ago—and that’s led to fewer recipients unsubscribing from the e-mail list.
The company this year also sent out marketing messages via postcards and package inserts, Sasson says, which also helped to increase sales.
Sales also got a boost from the retailer’s mobile commerce efforts, which launched earlier this year and include iPhone and Android apps, as well as a mobile-optimized e-commerce site. “The mobile portion of our sales is only 10%, but we are getting around 20% of total visits from mobile devices,” he adds. “This is not a mature avenue to shop in yet, but we are continuously improving and believe mobile will eventually become the method of choice.”