Overstock Procures GSA Contract to Fulfill Orders From Government Agencies

July 6, 2020  by Laurie Northington in Business Strategy, Industry   

The GSA Commercial e-Marketplace Acquisition contract leverages Overstock’s technology and 20 years of experience in B2B and B2C e-commerce to the government with easy access to furniture, supplies, and other commercial off-the-shelf (COTS) goods.

“We’re thrilled GSA has selected us for this exclusive group of online retailers to participate in this proof-of-concept pilot program which will allow us to supply key items like office furniture and equipment to government agencies,” said Jonathan Johnson, CEO of Overstock.com. “The commercial marketplace platforms are to provide the GSA with increased oversight on government spending. We are confident our technology and industry relationships will help make GSA’s goal a reality.”

GSA expects to have the e-commerce platform ready to launch in approximately thirty days. The platform will allow GSA to test the use of commercial e-commerce portals for purchases below the micro-purchase threshold of $10,000 using a proof-of-concept (for up to three years).

As part of GSA’s e-commerce platform, Overstock will help federal agency employees save time and taxpayer dollars on the company’s commercial marketplace and will help GSA streamline its spend data to increase efficiency. According to GSA, open market purchases on government purchase cards represent an estimated $6 billion annually.

The platform will offer a wide assortment of products from established partners, and will allow government personnel to easily find, research, and order necessary COTS products, including many items from small businesses. Along with the commercial e-commerce platform, Overstock will provide concierge customer care service to aid with efficiency and ensure a top-of-the-line experience for government purchasers.

“Our focus has always been to build phenomenal technology and to create the best possible shopping experience for our customers, whether that customer is in the private or government sector,” said Dave Nielsen, president of Overstock Retail. “This GSA contract aligns nicely within our business model and leverages our decades of experience in building e-commerce technology, relationships in the retail industry, and our robust supply chain and site infrastructure. We’re excited for this opportunity and to grow our B2B business.”

 “We appreciate GSA’s recognition of our expertise and our leadership in e-commerce,” said Ron Hilton, chief sourcing and operations officer, Overstock. “Our assortment for this platform will parallel our assortment on Overstock.com ensuring quality products at a great value alongside added benefits for our government clients.”

GSA provides centralized procurement for the federal government, offering billions of dollars’ worth of products, services, and facilities that federal agencies need. This e-commerce platform is part of GSA's Federal Marketplace Strategy to modernize and simplify the buying and selling experience for customers, suppliers, and acquisition professionals.