Overstock.com launches augmented reality (AR) feature within its iOS shopping app

Amit Goyal, Overstock.com’s SVP of software engineering, chairs VRARA’s global retail and e-commerce committee and forms the Association’s Utah chapter

SALT LAKE CITY, 2018-Jan-11 — /EPR Retail News/ — Months after Overstock.com, Inc. (NASDAQ:OSTK) announced the launch of its augmented reality (AR) feature within its iOS shopping app, the organization’s senior vice president of software engineering, Amit Goyal, was named as the chair to VR/AR Association (VRARA)’s global retail and e-commerce committee. Along with Goyal’s responsibility as chair, he will serve as president of the newly formed Utah chapter, growing VRARA to 51 global chapters, 19 of which are located in the U.S.

“We’re thrilled to have Amit Goyal join VRARA and chair our retail and eCommerce committee,” said Kris Kolo, Global Executive Director of the VR/AR Association. “His retail industry expertise and insight from building Overstock’s shopping app and AR function marks a crucial addition to VRARA’s growth.”

The award-winning iOS shopping app allows shoppers to view how products, like furniture, rugs, décor and other home goods, fit in their home using a smart phone or tablet with iOS11. With true-to-life-size 3D models in the highest resolution, shoppers have an accurate representation of the product directly in their home or office.

“Augmented reality is changing the way people shop,” said Goyal. “At Overstock, we focus on price, assortment and convenience, and our augmented reality feature brings an innovative convenience to shoppers. It’s important for our customers to see how these products will fit with their décor or simply if it will fit in their living rooms. So, we have invested significant resources to insure we are at the leading edge of AR and we’re proud to bring what we’ve learned and achieved to VRARA.”

Comprised of almost 4,000 companies, VRARA is an international organization designed to foster collaboration between innovative companies and people in the virtual reality and augmented reality ecosystem that accelerates growth, fosters research and education, helps develop industry standards, connects member organizations and promotes the services of member companies.

The new AR app feature is currently available on the iOS version of the retailer’s shopping app, and utilizes Apple’s ARKit, which was included in the iOS 11 operating system update. Android app AR functionality featuring Google’s new ARCore technology will follow when that operating system is released.

Overstock’s highly-rated shopping app has been awarded five consecutive Mobile App Awards from the Mobile Web Association. The app is available for download from both the App Store and Google Play.

The VR/AR Association is hosting the biggest VR AR online event from January 16 to 29, 2018 with more than 65 speakers, 3000 RSVPs and 10 symposiums focused on education, enterprise, storytelling, retail, AEC, marketing, advertising, webVR and arcades/LBE/Haptics. You can hear from Goyal on January 18 on VR and AR in retail. For more information on the conference, visit www.thevrara.com/events

About Overstock.com

Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B Preferred (OTCQX:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Additional stores include Pet Adoptions and Worldstock.com dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.

O, Overstock.com, O.com, Club O, Main Street Revolution, and Worldstock are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company’s Form 10-Q for the quarter ended September 30, 2017, which was filed with the SEC on November 8, 2017, and any subsequent filings with the SEC.

Media Contact:
pr@overstock.com

Kris Kolo, VRAR Association (VRARA)
kris@thevrara.com

Investor Contact:
ir@overstock.com

SOURCE: Overstock.com, Inc./globenewswire

Overstock.com updates its iOS shopping app with AR technology

iOS app update with AR technology available for download now in the App Store

SALT LAKE CITY, 2017-Sep-21 — /EPR Retail News/ — Overstock.com, Inc. (NASDAQ:OSTK) announces the launch of augmented reality (AR) within the retailer’s award-winning iOS shopping app. Shoppers using a cell phone or tablet with iOS11 can launch the AR experience directly from the retailer’s app, which features only true-to-life-size 3D models in the highest resolution, giving shoppers the most accurate representation of the product as possible so they can see exactly how it will fit in their room.

With the new technology, Overstock aims to continue to completely change the way people design and decorate their dream homes by making the entire process as effortless as possible. Customers can now place thousands of top products in an AR environment alongside their own furniture and décor to see how the size, textures, and colors match their current room’s design and flow. They can also share pictures of their design through direct messages or social media, and add products to their cart or purchase pieces with Apple Pay with one touch, all without leaving the AR screen.

“Augmented reality is changing the way people shop for furniture and home goods forever,” said Overstock.com President Saum Noursalehi. “Shoppers no longer have to guess how a piece of furniture will fit in their room, or if a pattern will match their existing design style. Instead, they can use their phones to see the exact product in their actual room, helping them make the most informed purchase decision.”

Today, shoppers can view thousands of products sold on Overstock.com within the AR feature, including top-selling furniture, rugs, home goods and décor from leading brands, and will offer each user personalized recommendations within the app to fit their unique style. Eventually the online shopping pioneer expects to have millions of products across all categories available for use within the AR technology, and will be able to use machine learning technology to offer recommendations based on a customer’s existing décor with no more than a simple scan of their room within the AR environment.

“AR is another nail in the coffin for brick and mortar stores, as it removes one of the last remaining advantages physical stores have over e-commerce and solves several major friction points of shopping for home goods online,” Noursalehi continued. “Customers now have the assortment of a home goods store with millions of products and the convenience of seeing how those products fit in their own home before purchasing. And with recent advancements in artificial intelligence and machine learning, soon you will be able to completely decorate an empty room just by mentioning a design style, or see recommendations of products that will match the actual pieces in your home all within the AR environment.”

The new app feature is currently available on the iOS version of the retailer’s shopping app, and utilizes Apple’s ARKit, which is included in the iOS 11 operating system update. Android app AR functionality featuring Google’s new ARCore technology will follow when that operating system is released.

Overstock’s highly-rated shopping app has been awarded five consecutive Mobile App Awards from the Mobile Web Association. The app is available for download from both the App Store and Google Play.

About Overstock.com

Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ t0 platform : OSTKP) / Series B Preferred (OTCQB:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Worldstock.com is a store within Overstock dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.

O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock and OVillage are registered trademarks of Overstock.com, Inc.  O.biz and Space Shift are also trademarks of Overstock.com, Inc.  Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact.  Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company’s Form 10-K for the quarter ended June 30, 2017, which was filed with the SEC on August 3, 2017, and any subsequent filings with the SEC.

Media Contact:
pr@overstock.com

Investor Contact:
ir@overstock.com

Source: Overstock.com, Inc./globenewswire