Beyond Inc. has given Overstock.com a fresh new look and expanded its inventory in categories like liquidation and factory direct, according to a company news release. The online-only retailer had a soft launch in March and announced its “Grand Reopening” this month, adding millions of new items to its ecommerce site.

“As it relates to the site experience, it now reflects renewed branding and an improved overall look and feel, reflects improved navigation, and offers compelling promotions,” Alexis Callahan, Beyond’s vice president of investor and public relations, shared in an email to Digital Commerce 360.

In June 2023, Overstock acquired Bed Bath & Beyond’s intellectual property for $21.5 million and later relaunched the retailer’s ecommerce platform, shutting down its own website. However, during a February earnings call, Beyond executive chairman Marcus Lemonis acknowledged that closing Overstock.com was a “fatal mistake.” Under new leadership, Beyond fast-tracked the online retailer’s launch by six months, debuting the new site in March.

Beyond Inc. is No. 63 in Digital Commerce 360’s Top 1000 database of the largest North American online retailers. Bed Bath & Beyond formerly ranked No. 47 before its bankruptcy and Overstock.com previously ranked No. 50. Digital Commerce 360 projects Beyond’s total web sales in 2024 will reach $1.58 billion.

Beyond Inc. web sales by year

“We believe that our company can be an online leader, helping manufacturers, retailers, distributors, and lenders solve complex inventory problems in order to generate cash and improve their own profitability while creating a frequently visited, value-centric destination for consumers,” Lemonis said in a statement.

Rebuilding Overstock

Overstock.com now features a “significant” increase in core legacy categories, including indoor and outdoor furniture, apparel and footwear, décor and jewelry. Additionally, the platform expanded its offerings to include more closeouts, liquidation items, factory direct merchandise and reverse logistics products, according to the company.

Despite starting from scratch, Overstock’s soft launch exceeded expectations, Beyond president Dave Nielsen said in a May earnings call. Nielsen added that he expects continued growth in site visits as the brand improves customer engagement and expands its email and other acquisition efforts.

Lemonis noted in the call that while Overstock and Bed Bath & Beyond can thrive independently, they also complement each other. While Bed Bath & Beyond saw some success in traditional Overstock categories such as family room furniture and large area rugs, it didn’t meet Beyond’s key performance indicators for margin contribution and acquisition costs, he noted. The company believes Overstock can better return to its historical performance in these areas.

For the fiscal first quarter ending March 31, Beyond reported a modest rise in earnings, with an increase in active customers and orders. The company plans to release its fiscal second-quarter 2024 financial results on July 29.

Zulily website launch

Overstock.com’s full relaunch comes four months after Beyond acquired ecommerce retailer Zulily’s intellectual property for $4.5 million — including its website, domain names, trademarks, customer database, social media and software. Zulily, once known for its online flash sales, shut down in December after a period of financial instability. The company was previously owned by Qurate Retail, which ranks No. 18 in the Top 1000.

Beyond now expects to relaunch Zulily’s website toward the end of the third quarter of 2024.

“Our vision for Zulily is to focus on the segment of customers who loved Zulily before, working moms who enjoy shopping for themselves and their families,” Nielsen told investors in the May earnings call. “Shopping is fun for them, and they like to browse frequently.”

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