Overstock.com Inc. announced today that it has expanded its international service to Mexico, China, Japan, South Korea, Taiwan, New Zealand and India. The e-retailer already sells to shoppers in 34 countries, including Canada and the U.K.
International shoppers enter the same URL as domestic customers to shop on the site. Overstock uses geolocation technology to recognize where shoppers are coming from and then displays prices in their local currency. Prices automatically adjust to the most current exchange rates, Overstock says.
In August 2008, Overstock, No. 29 in the Internet Retailer Top 500 Guide, began selling to international consumers in a move aimed at capitalizing on the weak U.S. dollar (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name).
"International markets are underserved by online retail," says Patrick Byrne, Overstock.com chairman and CEO. "The time has never been better for international customers to buy American goods, creating a great opportunity for us."
Overstock says it plans to begin selling in 49 more countries by the end of the year.
Back...
