PYMNTS-MonitorEdge-May-2024

Overstock Looks Into 2-Day Delivery

Never underestimate the power that comes with quick delivery in today’s digital-driven retail industry. With eCommerce gaining ground and traditional brick-and-mortar stores integrating more technology to help increase engagement, consumers are starting to expect swift service both in-store and in delivery options.

One company that’s looking to hop on board with faster deliveries is online retailer Overstock.com. In an effort to boost this part of its shopping experience, Overstock is rumored to be undergoing talks with logistics company XPO Logistics regarding outsourcing distribution and delivery. The hope here is that this will be a move that helps the company offer customers two-day delivery on larger items and will give it an advantage over rivals like Wayfair and Joss & Main.

XPO Logistics, which announced news of a deal with Amazon earlier this year and is planning to open ten new hubs, is becoming known as the go-to company for helping out eCommerce retailers with the last mile of shipping, which is arguably one of the most difficult. What makes the partnership with XPO Logistics even more attractive is the fact that after it completes its expansion next year, it will be within 120 miles of 90 percent of the U.S. population. If Overstock.com is able to seal the deal with XPO Logistics, it would become the first retailer in the U.S. to offer two-day delivery to 87 percent of consumers in the country.

Given the fact that shipping furniture can typically take anywhere from two weeks to over a month, due to the large bulky nature of things like bed frames, this deal would be a major plus for Overstock, its future earnings and its competition with other eTailers like Wayfair and Joss & Main. At this time, Overstock’s spokesperson has confirmed to The New York Post that no deal has been secured with XPO Logistics at this time.

PYMNTS-MonitorEdge-May-2024