Overstock.com Extends Personalization Technology to Site for Dynamic Experience
October 02 2019 - 8:55AM
Today, Overstock.com Retail (NASDAQ:OSTK) announced the
extension of its real-time personalization technology to its site.
This integration builds on Overstock’s recent announcement of a
fully-dynamic email experience that leveraged its proprietary
technology LiveRex and Overstock’s Asset Data Platform (OADP). The
initiative aims to deliver a more engaging and relevant experience
throughout every touchpoint of a customer’s journey.
“What our team has built here is truly groundbreaking,” said JP
Knab, Chief Marketing Officer for Overstock Retail. “Weeks ago, our
team introduced a fully-dynamic experience on email that created a
1:1 curated customer experience. Utilizing this same technology, we
have now begun to extend our personalization efforts to our retail
site, providing each customer with a unique personalized
experience.”
Overstock has developed technology like LiveRex and OADP which
is driven on machine learning algorithms to form a platform that
enables real-time personalization. By utilizing this technology
between channels like email and Overstock’s retail site, the
company can create a custom narrative for each customer that guides
them to the exact product they are seeking. The technology has
extended to two high-traffic locations on Overstock.com and will
continue to integrate across the rest of the site until as much of
it is as dynamic as is possible.
“This initiative is oriented on improving the discoverability of
products that are relevant to each customer’s preferences as well
as helping customers navigate to content that eases their purchase
decision,” said Ajit Vaidya, Product Manager, Website
Personalization at Overstock.com. “We do this by surfacing product
recommendations and building user-centric features that enable a
passive, yet engaging customer journey.”
These personalization efforts sprout from Overstock’s focus on
building one of the best customer experiences online. In this
personalization process, Overstock is able to inform teams on what
content customers are engaging with and provide direct feedback to
the various marketing and content teams to ensure the most relevant
and engaging images and copy are being created. Overstock strives
to always save customers time and money and with these new systems
the company will only continue to build and improve on that
focus.
“Our focus is on our customers and their journey on
Overstock.com,” said Cathy Bergstrom, Marketing Group Product
Manager at Overstock Retail. “These personalization efforts allow
us to be more attentive and responsive to our customers' questions
and desires. As they search on Overstock, we want every touchpoint
to be relevant and simply lead them to what products they are
seeking.”
For more information on Overstock’s innovations and news, visit
overstock.com/newsroom.
About Overstock.com
Overstock.com, Inc Common Shares (NASDAQ:OSTK) / Digital
Voting Series A-1 Preferred Stock (Medici Ventures’ tZERO
platform:OSTKO) / Series B Preferred (OTCQX:OSTBP) is an
online retailer and technology company based in Salt Lake City,
Utah. Its leading e-commerce website sells a broad range of new
products at low prices, including furniture, décor, rugs, bedding,
home improvement, and more. The online shopping site, which is
visited by nearly 40 million customers a month, also features a
marketplace providing customers access to millions of products from
third-party sellers. Overstock was the first major retailer to
accept cryptocurrency in 2014, and in the same year founded Medici
Ventures, its wholly-owned subsidiary developing and accelerating
blockchain technologies to democratize capital, eliminate
middlemen, and re-humanize commerce. Overstock regularly posts
information about the company and other related matters on
the Newsroom and Investor Relations pages on
its website, Overstock.com.
O, Overstock.com, O.com, Club O, Main Street
Revolution, and Worldstock are registered trademarks of
Overstock.com, Inc. Other service marks, trademarks and trade names
which may be referred to herein are the property of their
respective owners.
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements include all statements other than
statements of historical fact including but not limited to our
expectations regarding personalization technology. Additional
information regarding factors that could materially affect results
and the accuracy of the forward-looking statements contained herein
may be found in the Company's Form 10-Q for the quarter ended June
30, 2019, which was filed with the SEC on August 8, 2019, and any
subsequent filings with the SEC.
SOURCE: Overstock.com, Inc.
Contact: PR@overstock.com
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