Overstock.com (NASDAQ:OSTK) announced the launch of Farmers Market, a selection of seasonal, healthy food that's grown and produced locally and delivered to shoppers' homes.
"We're integrating small farms, community-supported agriculture (CSA), and co-ops into our technology so as to allow consumers in their area to buy and arrange delivery through Overstock," said Overstock CEO Patrick Byrne. "We want to streamline the farm-to-table process to provide everyone access to healthy food, delivered to their doorstep."
Overstock is able to serve about 20 percent of the population in the United States with farm food grown near their ZIP code. The intent of the new launch is to provide delivery access for fresh, locally grown food to about 70 percent of the U.S. population by the end of the year.
Each product for sale is accompanied by a farmer or food purveyor biography, along with a look at the production process. Byrne said that shoppers will find a sense of community by providing health-focused recipes alongside seasonal produce guidance and the actual products.
Suppliers who join the program use a revenue-sharing model that allows them to get their products on Overstock with minimal changes to existing procedures.
Overstock is jumping on the growing trend of retailers who offer natural and organic food options. In an effort to compete with solid names in the industry such as Whole Foods (NASDAQ:WFM), supermarkets and big box chains such as Aldi and Kroger (NYSE:KR) recently introduced organic and healthy food lines to their stores. Even drugstores are getting into the business of healthier foods—such as CVS and its Fit Choices snack line.
Overstock has also been focused on the company's internal health and the well-being of its employees and headquarters. Last month the company broke ground on its new corporate campus, referred to as the Peace Coliseum, which is anticipated to open in the summer of 2016. The 231,000 sq. ft. office building, which will stand on 10 acres of land in Midvale, Utah, will include an amenities building—complete with cafe, fitness center, health clinic and daycare, a park-like green space and a parking structure.
-See this Overstock press release
Whole Foods looks to streamline business processes, increase efficiency
What the Square-Whole Foods deal really means
Whole Foods confirms plan to buy 7 former Dominick's stores in Chicago
Whole Foods commits $25 million to local businesses, opens wellness center in Detroit
Trader Joe's, Whole Foods, Walgreens recall 90 tons of food linked to E. Coli