Overstock.com, Inc. is an American internet retailer headquartered in Midvale, Utah, near Salt Lake City. Patrick M. Byrne founded the company in 1997 and launched the company in May 1999. Overstock.com initially sold exclusively surplus and returned merchandise on an online e-commerce marketplace, liquidating the inventories of at least 18 failed dot-com companies at below-wholesale prices. The company continues to sell home decor, furniture, bedding, and many other goods that are closeout merchandise, however, it also sells new merchandise.
In May 2002, Overstock held an IPO at a per-share price of $13, and after achieving significant growth and profits in some early quarters, achieved a profit of $7.7 million in 2009 and reported its first billion-dollar year in 2010. The business started rebranding in early 2011, as "O.co", to simplify and unify its international operations but interrupted this effort a few months later, citing consumer confusion over the new name.
Byrne took an indefinite leave of absence in April 2016, because of Hepatitis C complications. The general counsel, Mitch Edwards, was named acting CEO. In July 2016, Byrne returned as CEO.
|Founded||May 1999; 18 years ago (1999-05)|
|Headquarters||Midvale, Utah, United States|
|Key people||Patrick Byrne, founder, CEO|
|Net income||US$ 12.52 million (2016)|
|Total assets||US$485.08 million (2016)|
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Yes, it is.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Consumer Brands / Retail/E-tail is 50.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If Overstock sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of Overstock with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
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