Here’s a detailed post on How To Sell On Overstock.
With the latest boom in the ecommerce industry, many platforms have sprung up with investors willing to invest large sums of money knowing the potential gains and profits they could make over the couple of years until it sets off. One such platform is Overstock, which is similar to its competitors like Ebay, Amazon etc.
Based out of Cottonwoods Heights, Utah; the company has gone onto make its platform one of the well reputed ecommerce platforms out there. With over 1.5 billion USD in revenue over the last financial year the company has grown in the right direction under the leadership of its founder Patrick Byrne.
The company deals with all sorts products ranging from daily household commodities to high end work equipment’s. The user friendly interface remarks the quality of the idea and design put in by the organization.
To start off with, you have certain formalities that you need to follow. There’s a form that you need to fill out, which is available on the website.
The form consists of three sections:
- Organization Information.
- Product Information.
i) Organization Information
This section consists of all the information regarding your organization. From your contact details to your past experiences with other ecommerce platforms or even Overstock for that matter. You also need to fill in details about how big your organization is and what type of a seller you are. Also enter your preferred method of contact i.e, email or phone; there’s a column to enter your email address and your phone number as well.
ii) Product Information
This section is where you need to enter in all the details regarding the products that you’re going to be listing on the website. You can upload images of your products along with other details with regards to your product. Then comes the secondary category of your product which you can choose from the options that are en-listed on the page itself. The final box contains information as to how long it would take for you dispatch an item once the order is placed.
The Comments section is where you need to enter in a bit of text details about your product and leave any important information as such. There’s one box where you can pass on information about the different trade and expo shows that you’d be at in the recent coming days.
Once you’re done filling in the form click on “Submit” button. Thereon the processing of your form will take place. The processing usually takes 2-3 days. During these day the company will assess your profile and organization based on the information that you have entered. If the details entered by you is satisfactory to the officials reviewing your profile, you’d be notified via your preferred mode of contact.
So How Does It Work?
Like every other seller platform out there, the process is similar here too. You start off by creating your seller profile. Once that’s taken shape, you then move onto the listing of your products/items. Now you’re ready to sell your products. Your products are listed under each categories under the website. To make your product look more appealing and improve your sales the company offers you exclusive cataloging and photo shoot options for your product.
When a customer decides to buy your product, you’ll be notified as soon the customer clicks the “Buy” button. The packaging has to be done according to the company’s standards, to keep up its reputation of quality packaging of the product the customer orders. Once the delivery is confirmed, Overstock will transfer the funds into your account after deducting its commission and selling fee. The books are squared off at the end of every month, so payment occurs on a monthly basis.
With regards to auctioning on Overstock;
Overstock’s listing fees are technically lower than eBay, but not by much. Although registration is free and listing costs range from 10¢ to $3.15. Final value fees are also less expensive than eBay, only 3% for items sold under $25. If your items don’t sell, you can relist your items for free as many times as it takes to sell them.
Upgrading your listing and adding attention getters to Overstock listings costs about the same as eBay, $1 for bold and $5 for highlighting. Having your auction featured costs $13.17. The first picture you upload is free, but you can add up to 6 more for 10¢ each.
Overstock also has subscription plans for frequent and concurrent users. Plans start at $6.95 a month for 25 simultaneous listings. Or you can open a store and cross promote your items on the details page.
Prohibited & Restricted Products On Overstock.
The following products are prohibited & restricted from selling on Overstock;
- Adult Only Category
- Animals & Wildlife products
- Drugs & Drug Paraphernalia
- Government related documents
- Hoverboards, electronic jammers, pirated hardware, etc.
- Hazardous & Regulated Materials
- Currency Selling/Exchange
- Weapons & Firearms
(Note: Some products that are banned in certain countries, are also banned on the portal.)
Hope you have learnt about How To Sell On Overstock. In case you have any questions / clarifications, please mention it in the comments section below. Also remember to share the post with your friends and relatives! 🙂
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