Overstock.Com Announces Adoption Of ChoiceStream RealRelevance Personalization Platform
Personalized Gift Finder to be Available in Time for the Holidays
Cambridge, Mass. — November 20, 2006 — ChoiceStream, Inc., the leading provider of personalization solutions for online entertainment services, e-retailers, TV and mobile providers, today announced that Overstock.com® (Nasdaq: OSTK), the popular shopping Web site, has adopted the ChoiceStream RealRelevanceSM Platform to offer personalized shopping recommendations throughout the online retailer’s service. A personalized Gift Finder is the first implementation to be deployed by Overstock and is available to the public in time for the busy holiday shopping season.
“Working with ChoiceStream allows us to better optimize our diverse and constantly changing inventory, while ensuring that customers find relevant merchandise when they visit our site,” said Patrick Byrne, chairman and CEO of Overstock.com. “ChoiceStream personalization makes our huge range of brand-name inventory more accessible to customers and makes shopping at Overstock.com even more convenient and enjoyable, which is especially important at this time of year as consumers gear up for the holiday season.”
Overstock.com plans to integrate ChoiceStream-powered personalization throughout their retail site, providing shoppers with one-to-one merchandising that surfaces the most personally relevant product recommendations based on each consumer’s individual tastes and preferences.
To help consumers with their holiday gift-shopping, Overstock deployed a personalized Gift Finder. The ChoiceStream-powered Gift Finder will provide Overstock.com consumers with an innovative online gift-buying service that intelligently matches recipients with gifts they will truly enjoy. ChoiceStream’s Gift Finder simultaneously considers the occasion for the gift, the age and gender of the recipient, the interests of the recipient (e.g., fashion & style, fitness & sports, travel & adventure, etc.) as well as the relationship between the shopper and recipient (e.g., family, romantic, friend, etc.). ChoiceStream uses all of this information, as well as a deep understanding of the products being merchandised, to dig deep into Overstock.com inventory and present diverse recommendations across a wide range of options, including apparel, CDs, videos and DVDs, kitchenware, watches, jewelry, electronics and computers, sporting goods and more.
“We are very excited to be working with Overstock to personalize shopping for their consumers.
With the holiday season upon us, online shoppers are busier than ever. They want, and need, help sorting through the superabundance of available merchandise,” said Steve Johnson, CEO of ChoiceStream. “ChoiceStream immediately presents consumers with relevant recommendations that make finding the right merchandise or perfect gift fun and easy. That’s why retailers like Overstock.com turn to ChoiceStream -- to drive sales, customer satisfaction and loyalty.”
Proven Superior in the World’s Largest Networks
The ChoiceStream RealRelevance Platform is the only personalization system of its kind to profile both people and content. ChoiceStream automatically classifies all types of content and learns from people’s interactions with it to better understand each consumer’s unique tastes and preferences. The system also incorporates trends, popularity, and related affinities from its large universe of ChoiceStream consumers. This unique knowledge-based approach enables ChoiceStream to learn about a consumer quickly and accurately, avoiding ‘out-in-left-field’ results that can immediately undermine consumers’ faith. In addition, ChoiceStream easily copes with new, ever-changing content solving the ‘cold start’ problem that afflicts older personalization approaches. As a result of it high-performance technology, ChoiceStream provides personalized guidance and discovery for millions of consumers every day and produces measurable business results for major brands like AOL, Yahoo! and DirecTV.
About ChoiceStream, Inc.
ChoiceStream is the premier personalization solution for the world’s largest entertainment, eretail, TV and mobile brands, including AOL, Yahoo!, DirecTV and Overstock.com. In today’s marketplace of ‘superabundance,’ ChoiceStream’s RealRelevanceSM Platform restores control to consumers by delivering personally relevant choices when and where they want it.
ChoiceStream’s RealRelevance Platform accurately presents consumers with their favorite music, movies, news, sports, and products wherever they are: online, using a mobile device, or watching television. For consumers, ChoiceStream’s technology delivers on the promise of instant gratification. For content providers, ChoiceStream’s solution produces measurable business results and a powerful approach to building lifetime customer loyalty.
Overstock.com, Inc. is an online “closeout” retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel.
Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the
NASDAQ National Market System and can be found online at http://www.overstock.com.
Overstock.com is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective companies.
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, but are not\ limited to, statements regarding ChoiceStream’s proven gift sales conversion, Overstock.com’s ability to optimize its inventory, ensuring customers find relevant inventory, ChoiceStream’s ability to make Overstock’s inventory accessible to customers and making shopping on Overstock more convenient and enjoyable, matching recipients with gifts they’ll enjoy, presenting relevant recommendations, and such other risks as identified in our Form 10-K for the year ended December 31, 2005, and all our subsequent filings with the Securities and Exchange Commission, which contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forwardlooking statements.
- Contact Information
- Phillip Fougere
- ChoiceStream, Inc.
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.