In today’s top retail news, Overstock reported surging net revenues amid an increase in average order value, while O’Reilly Automotive reported a rise in sales. Plus, eBay has joined an increasing list of digital retailers to indicate that post-pandemic growth will decelerate.
Overstock.com, Inc. announced as part of its financial results for the first quarter of 2021 that total net revenue increased by 94 percent year over year to $660 million. The online merchant and technology firm reported 3.6 million orders delivered in the first quarter of 2021, marking a 66 percent year-over-year rise, and a $183 average order value for the period, marking a 17 percent year-over-year rise.
Auto part retailer O’Reilly Automotive said demand brought about the best same-store sales growth in the firm’s 64-year history. Sales for the first quarter climbed by $614 million to reach $3.09 billion from $2.48 billion from the same period a year ago. In addition, first-quarter same-store sales climbed by 24.8 percent.
eBay told investors that its growth in the second quarter is going to range from 8 percent to 10 percent, down from the 42 percent pace it just reported in the first quarter. The forecast from the digital marketplace follows similarly cautious — or realistic — outlooks from a number of eBay’s mega cap online shopping competitors.
With online commerce surging, social commerce expanding by leaps and bounds, and thousands of new digital stores being rolled out or revamped each year, feeding the modern digital content monster is a seemingly limitless task. It’s also one that soona, which is based in Colorado, is aiming to disrupt by offering quick and professionally produced pictures and video for a portion of the regular cost.
Selected by EFXA