The eCommerce platforms like Overstock, eBay, Amazon, etc., have seen much of the profit during the season of 2020- 2021. As people are more inclined towards ordering their necessities from online platforms, it is quite prospective to switch to a giant marketplace like Overstock for selling. Hence if you are thinking of selling here, then knowing How to sell on Overstock Marketplace is going to be your primary concern.
Along with its more than 15 years of presence in the market and 30 million monthly visitors, Overstock comes with a large opportunity for sellers with the possibility of higher sales volumes. Hence opting for selling with this platform is simply going to be very useful for you to target higher sales revenue. Hence here are the important factors that you need to know regarding how to sell on Overstock:
How do You Start Selling on Overstock?
Before you start selling at Overstock, you need to sign up with it as a seller. Hence you need to follow some of the easy and simple steps for starting your selling venture with this platform. Hence have a look:
- First, you need to visit the Partner website of Overstock, and then you need to click on the Get Started button.
- Then it is going to come up with some of the questions. You need to answer the questions regarding your business capabilities, sales details, product types, etc. Then you can simply click on the Submit button.
- The Overstock is going to assess all the business details that you have provided. Also, Overstock would like to learn more about how you used to handle your past customers’ complaints, etc. It is probably going to take 1 week to get the response.
- Once you are accepted as an Overstock seller, you can log in to complete your seller profile, and then you can upload your item details and advertise in the most suitable categories.
What can You Sell on Overstock?
Overstock works as a very useful and popular platform for all the buyers who want to get their daily and essentials at the best deal. Hence you can sell a variety of products using Overstock. But before you start selling with Overstock, you need to know what you can sell here. Here are the product categories you can easily sell using Overstock:
- Jewelry and watches
- Bed and bath
- Health and beauty
- Electronics and media
- Sports, hobbies, and toys
How much is It going to Cost to Sell on Overstock?
If you are thinking of selling with Overstock, then it is very important to know how much it is going to cost you to sell with Overstock. Knowing the cost is essential for letting you a complete estimation on whether you are going to make a profit or not.
Various sellers online said that Overstock charges around 10 cents for each of the listings. Also, it includes a commission fee of 3% of the selling of items with a price up to $25. However, it is still unclear how much you need to pay for items with more than $25. Also, the site of Overstock does not come with such details. Overstock does not usually disclose its fees as long as you do not sign up as an overstock seller.
However, you can contact Overstock directly to find out exactly what fees you are going to require for selling on Overstock.
As you sign in with Overstock you can easily get access to its fee list. The listing free for Overstock is definitely less than eBay. The cost for registration and listing fee ranges between 10 cents to $3.15. The final value selling on overstock fees is 3% for the items which are sold under $25 or so. In case the items are not landing for sale, you can relish the items as many times as you want.
Upgrading your listings on selling Overstock costs you $1 for bold and $5 for highlighting the product. You can also feature your listing at the cost of $13.17. The first picture which you are going to uploads for your product comes free of cost. Also, you can add up to 6 more at the price of 10 cents for each.
How do You Price Your Items on Overstock?
Pricing your item on Overstock is not at all that much difficult. Rather it is easy. However, you need to consider some of the factors while pricing your items on Overstock. So how to sell on overstock.com? Have a look:
Overhead of your business: Whether you work as a drop shipping and selling your creations or reselling items, then you need to work your way backward. You also need to figure out the lowest costs that you can support while staying in business. Also, you need to consider your shifting fee schedule for your Overstock before setting the pricing.
The market you are dealing with: While selling something, you need to have a sound knowledge of your market. To meet the demand of the overstock marketplace or to sell a product that is already listed on Overstock, you need to research the market properly.
You need to use the existing pieces of the items to find the starting price point. Then you can shift it easily as per your requirements. Also, to stay competitive in the market, it is important to go with the running deals on holidays when most of the buyers are going to flock around.
Your buyers: ultimately, you are going to set the price for your buyers. Thus you need to keep in mind all the important factors about your buyers. You need to do more research work on the buyers using the various analytic tools to know what kind of buyers come to the Overstock and what are the sales and strategies for them.
How do You Market Your Product Properly with Overstock?
Overstock comes with a variety of listing boosters free of cost to help the sellers have an easy boost in their sales. To make your marketing easier and effective on Overstock you can highlight your items which lets your product stand out as a significant one. Also, there are various other very effective and efficient marketing tools for the sellers that include advisers.
You can use the tools to enhance your potential and make your brand grow in a much lucrative way that suits your business reports. Also, you can make use of the analytics, various photo services, and SKU building tools.
Things to Know Before Considering Selling with Overstock
Are you new to eCommerce selling? Then hearing about Overstock might sound interesting to you. But is it worth jumping right into it? Well, that’s the main reason while you should know all the important factors about it. Have a look:
- Focus on the buyers: Most of your buyers are going to be US-based. Hence focusing much on the buyers from other countries, it is better to focus on the US-based buyers, as the main base of buyers for Overstock is from the US.
- You can sell only new items: While platforms like eBay let you sell old items or allow you for reselling, Overstock is different from them. Overstock only sells new products. Thus if you are thinking of selling with Overstock, make sure you are selling only new items.
- Bidding is restricted: On Overstock the power of Overstock sellers is not that prominent. Rather buyers are powerful here. You cannot reject any bidding or opt to close an auction ahead of time.
- Fees are not transparent: Before you opt for selling on Overstock, you must know that the fee structure is not so transparent here. You may not get detailed information on how much exactly you are going to lose with your commissions and fees while selling your specific items until you sign up with it.
What Kinds of Payments does Overstock Accept?
When it comes to accepting payments using Overstock, it is very flexible. Overstock is easily going to accept a variety of payment ranges like credit cards, store cards, or even cryptocurrencies. Here are what Overstock is going to accept for the payments:
- Visa card
- American Express
- Overstock Gift Cards
- Overstock Store Credit Card
- Progressive Leasing
Customers are going to get charge as they place an order with Overstock. However, sellers are not going to receive compensation until you are shipping the item. As Overstock verifies the completion of the order, they are going to transfer your profit using the bank transfer.
How do you get paid from international buyers?
Overstock tends to issue all kinds of international transactions using the e-commerce system FedEx Cross Border. It comes with an additional fee for the buyers on this platform. This works as a benefit for the sellers as it comes with few advantages. Have a look at the advantages you are going to get with the international selling and paying off items:
- You don’t have to worry about anything with the international rates for exchange.
- In such cases of International Payments, Overstock is going to handle all the payments.
- Getting the payment is guaranteed as you are going to ship the item to the buyer.
- In case you face any kind of trouble regarding international payments, the team of Overstock is going to help you in various ways to resolve your problem.
Is it Worth Selling on Overstock?
Based on the rapid popularity of the eCommerce platform, it is definitely worth starting selling on a popular eCommerce platform like Overstock. If you are having your business specialized with the name-brand, designer home goods, or variety of new products, then switching to Overstock for selling is definitely going to be very profit-making for you.
Starting selling at Overstock is going to help you with reaching up to more than 46 million people or potential customers. Overstock works as a very lucrative platform for boosting your online business. The company helps with many accolades and robust customer service, which makes it much trustworthy as a platform.
However, you should also keep in mind that Overstock’s traffic is less than the other platforms like eBay, Amazon, etc. But you can also increase the chance of selling successfully as the Overstock marketplace is quite impressive.
However, we have a few simple tips you can simply boost your sales in a much more impressive way. Have a look:
Start Selling High-Quality Products
In case your item is not having the name or recognition with the similar items on Overstock, then you need to accept the smartest ways of boosting your product’s performance. Or else you can switch to any other bargain-focused platforms if you are not satisfied with the Overstock.
Stay Simple to Control the Budget
Overstock marketplace can upcharge you for bolding, highlighting, or promoting your products in a rapid way if you are thinking of staying consistent with the growing competition. Though these strategies are very useful, it is important to stay within your budget while opting for promotions. However, if you have a close look at the pricing list of Overstock, then you can see it is not at all as pricey as eBay or other popular platforms. Hence it is not at all going to be a pricey venture, but it is better to stay on the safer side.
Opt for Help from the Overstock Team
Overstock comes with partnership options and access to the initiatives which can link your product for better growth. You can also use the data-driven backend for investigating why your product is not performing well. Hence you can opt to ask for help from the robust customer care team of Overstock.
So if you are thinking of targeting your US audiences in a much more effective way, then opting for Overstock marketplace is simply going to be the best platform for you. Though it may seem a bit difficult for beginners, it comes with various helpful insights and guides for the sellers. For larger business requirements and with the problems associated with it, you can find solutions from any of the Overstock Integration extensions, which will help you to have better growth in your conversion rate and to scale your business with Overstock properly.