TO DATE JOINING ME NOW IS
JONATHAN JOHNSON CEO OF
OVERSTOCK DOT COM JONATHAN GOOD
TO HAVE YOU BACK ON THE SHOW
WITH US HELP US WALK THROUGH
SOME OF THESE RESULTS, WE KNOW
THAT PORT AND MANUFACTURING
BOTTLENECKS HAVE LEFT
LITTLE EFFECT ON WHEN CUSTOMERS
GET GOODS BECAUSE OVERSTOCK
USUALLY ONLY SELLS
WHAT IS IN STOCKS. SO WHAT
SUPPLY CONSTRAINTS DOES THE
COMPANY EVEN EXPERIENCE AT THIS
POINT IN TIME.
>> WELL LIKE YOU SAID WE ALWAYS
SO GOOD THAT WE HAVE.
>> WELL SHEP I THINK
THE SUPPLY CONSTRAINTS ARE
MAKING SURE WE HAVE AN UPRIGHT
IN STOCK AND BECAUSE WE HAVE SO
MANY.
SUPPLIERS WE'VE BEEN ABLE TO
WEATHER THE SUPPLY CHAIN KINGS
BETTER THAN
MOST HALF. THING THAT I THINK
IT'S REALLY USEFUL IS WE DON'T
REQUIRE OR SUPPLIERS
TO PRODUCT. IN OUR DISTRIBUTION
CENTERS. WE LOVE THEM AND
ENCOURAGE THEM TO SHIP
FROM THERE. DISTRIBUTION
CENTERS AND I
THINK THIS IS RAN A HIGH DEMAND
LOW SUPPLY TIME AND SUPPLIERS.
I DON'T
WANT TO LOCK THEIR LIMITED
INVENTORY OF THINK ANYONE
DISTRIBUTION CHANNEL SO SOME OF
OUR.
COMPETITORS REALLY PRESSURES
SUPPLIERS
TO PRODUCT THEIR DISTRIBUTION
CENTERS. WE FEEL THERE'S A LOT
OF PUSHBACK ON THAT IT'S
ALLOWED US TO BE HAVE VETERANS
TIME WE HAVE
WE HAVE A HIGHER IN STOCK
PERCENTAGE TODAY THAN WE DID A
YEAR AGO.
>> QUARTER SIZE WE DID
PRE PANDEMIC BUT BETTER THAN IT
WAS LAST YEAR THE STATE.
>> AND THIS HIGH DEMAND LOW
SUPPLY ENVIRONMENT, WHAT
OPPORTUNE IT IS EASY TO
CONTINUE TO GROW OUT THE
BUSINESS.
>> WELL YOU KNOW
WE'RE LEADING IN THE WE'RE
GETTING BROADER AND BOTH DIRECT
AND DEATH. THE PRODUCTS WE HAVE
ON SITE THIS SUMMER FOR
EXAMPLE. WE WERE DEEP AND
OUTDOOR FURNITURE. AND WE WON
THE IN THAT CATEGORY AND AS WE
LOOK TO NEW
COUNTY AGREES. WE'RE GOING TO
KEEP DOING THAT RIGHT
CATEGORIES HEARING THEIR BREATH
AND DEPTH IN DOING SO WORK TO
TAKE MARKET SHARE. IN THE
GROWING ON FURNITURE SPACE.
>> WHEN YOU THINK ABOUT THE
TRANSACTIONS AS WELL OF COURSE
YOU KNOW I ALWAYS TALK ABOUT
HOW OVERSTOCK IS ONE OF THE
FIRST COMPANIES, THE FIRST
ONLINE RETAILER TO ACCEPT
BITCOIN AS A FORM OF PAYMENT.
GIVEN THE ACCELERATION IN OTHER
POINTS THAT WE'VE SEEN OVER THE
COURSE OF 2021. HAS THERE BEEN
ANY DISCUSSION OR
ANY PLANS ANTICIPATION AROUND
ACCEPTING OTHER TYPES OF POINTS
AS WELL FROM CONSUMERS.
>> YOU KNOW TODAY NEXT A BIG
ONE THAT'S CHANGED
OVER TIME.
>> THERE'S A POINT WE WERE
ATTEMPTING SOMETHING LIKE 45
DIFFERENT. CURRENCIES REALLY
DEPENDS ON THAT THE COURT
PROCESS ARE WE USING THEIR
ABILITY TO ACCEPT.
BITCOIN USER. THOSE ARE THE
THOSE ARE THE 2 BIGGEST CRYPTO
CURRENCIES WE'RE EXEMPTING
THOSE WE THINK WE'RE GETTING
THE BULK OF THE MARKET. I WILL
SAY WE TEND TO
SEE MORE FOR CRYPTO BASED
PURCHASES WHERE THE PRICE OF
BITCOIN
GOES UP STILL VERY SMALL
PERCENTAGE OF OUR REVENUE BY
SOMETHING WE WATCH AN
EYE CHECKUP. WE CAN SEE WITH
THE WEEKLY CRYPTO CURRENCY
REVENUE WAS CERTAINLY WHAT'S
YOUR TAKE ON.
>> YOU KNOW COMING BACK TO HOME
FURNISHINGS PARTICULARLY THAT
INDUSTRY AND WHICH AREAS WITHIN
THE HOME FURNISHINGS YOU'RE
SAYING BASED ON THE DATA
FROM OVERSTOCK HAS THAT DATA
LEGIT TO KIND OF LEAN INTO
SPECIFIC CATEGORIES SUB
CATEGORIES WITHIN THE HOME.
>> YEAH, GREAT QUESTION YOU
KNOW OVER THE SUMMER WAS
OUTDOOR FURNITURE. NOR WE DID
REALLY WELL. TODAY IT'S LIVING
AND DINING AFTER SAYS TENDER
BEING A REALLY STRONG CATEGORY
FOR US WE'VE ALWAYS
BEEN STRONG AN AREA ROADS AND
CONTINUE TO FOCUS ON THAT.
>> I THINK
WE'RE SEEING WE SEE GROWTH IN
THE AREAS THAT WHERE PEOPLE
GATHER YOU KNOW THIS SUMMER
THERE WAS A LOT OF PENT UP
DEMAND FOR TRAVEL. I THINK OVER
THE HOLIDAYS, THERE'S GOING TO
BE
ON IT AND UP TO HIM AND
TOGETHER WE MISS BEING WITH
FAMILY AND FRIENDS LAST YEAR
WE'LL BE WITH THEM
THIS YEAR. THE TIME WE GATHER
WE MAKE SURE OUR HOME LOOKS
JUST A LITTLE BIT NICER FOR THE
FOLKS THAT WE'RE
BUYING IT.
>> I'M GLAD YOU BROUGHT UP THE
HOLIDAY SEASON BECAUSE WE'VE
BEEN HEARING AND TRACKING A TON
FROM RETAILERS
AND E-COMMERCE MAJOR PLAYERS
LIKE YOURSELF AND IN TERMS OF
WHAT THIS HOLIDAY SEASON COULD
HOLD. WHAT IS YOUR OUTLOOK FOR
THE UPCOMING HOLIDAY SEASON AND
YOU KNOW WHICH PRODUCTS LOOK TO
BE TRENDING FOR EVEN AHEAD OF
BLACK FRIDAY AND CYBER MONDAY.
>> YEAH, SO YOU KNOW IT'S
REALLY MORE OF
THE HOME.
>> WE ARE LESS SEASONAL WE USED
TO BE BUT WE
STILL HAVE WE'RE GOING TO READ
GIVE 2 IN THE FURNITURE SPACE
WHETHER THAT'S YOU
KITCHEN APPLIANCES OR THROW
CALLS LOTS OF THINGS THAT YOU
KNOW PEOPLE WANT TO DO IS AS
GIFTS.
LESS IMPORTANT TO US THAN HAS
BEEN THE BEST, BUT WE THINK
IT'S STILL GOING TO BE A NICE
HOLIDAY SEASON FOR US.
>> TICKET
PRICES OR PRICE PER TRANSACTION
THAT YOU'RE SAYING ARE YOU
SEEING ANY RISE IN THE AVERAGE
AMOUNT SPENT ON THE PLATFORM.
>> OUR AVERAGE ORDER VALUES GOT
OUT BEACHES SIGNIFICANTLY IN
THE LAST COUPLE
OF QUARTERS TO SEE GO DOWN A
LITTLE BIT IN THE 4TH THE
CORONER HAS PEOPLE TO GET
BUT AS WE LEAD INTO A HOME AND
THERE'S THIS CATEGORY MAKESHIFT
WE CAN EXPECT TO SEE OUR
CONTINUED.
RISE IN OUR AVERAGE ORDER SIZE
THAT BASKET JUST GETS BIGGER