In today’s major retail news, Overstock reported increased net revenue amid rising average order value, while O’Reilly Automotive reported increased sales. Additionally, eBay joined a growing list of digital retailers to indicate that post-pandemic growth will slow.
Overstock net income soars as average order value increases
Overstock.com, Inc. reported as part of its financial results for the first quarter of 2021 that total net income increased 94% year-over-year to $660 million. The online commerce and technology company reported 3.6 million orders delivered in the first quarter of 2021, marking a 66% year-over-year increase, and an average order value of $183 for the period. , marking a 17% year-over-year increase.
O’Reilly Automotive Posts Record First Quarter Sales Growth
Auto parts retailer O’Reilly Automotive said the demand drove the best same-store sales growth in the company’s 64-year history. First-quarter sales rose $614 million to $3.09 billion from $2.48 billion in the same period a year ago. In addition, first quarter comparable store sales increased 24.8%.
eBay joins growing list of online retailers in saying post-COVID growth will slow
eBay told investors its second-quarter growth would be between 8% and 10%, down from the 42% pace reported in the first quarter. The digital market forecast follows the equally cautious – or realistic – outlook of a number of eBay’s mega-cap online shopping competitors.
Creative content platform soon declares that “nothing is sold online without an image”
With e-commerce booming, social commerce expanding by leaps and bounds, and thousands of new digital stores being rolled out or revamped each year, fueling the modern digital content behemoth is a seemingly limitless task. It’s also one that Colorado-based soona aims to disrupt by offering fast, professional photos and video for part of the regular cost.