Small and minority-owned businesses have a chance to expand product sales through a partnership with Overstock.com, the Salt Lake City-based online discount retailer.
Dubbed the "Main Street Revolution Initiative," the effort is intended to increase the visibility of small businesses that lack exposure to national markets, said Overstock CEO Patrick Byrne.
"By joining our network, small-business owners can reduce their supply chain costs and expand the awareness of their products among a much bigger audience," Byrne said."
Initially the products that those businesses will offer for sale will be listed in their appropriate shopping categories on Overstock.com, he said. But once a critical mass of partners is reached, their products will be consolidated into a "Main Street" store on the company's website.
Christina Johnson, whose two-year-old start-up business, AyAyAy International, sells a line of active wear and fitness clothing, said she is optimistic about the new marketing opportunity.
"I'm in the process of joining now," Johnson said. She believes the new initiative will, for the first time, give her business the opportunity to market its products to a national audience.
Johnson, aided by a small amount of financing from the Utah Microenterprise Loan Fund, incorporated her business in 2008 and began selling products last year. To date, though, she primarily has focused on selling her clothing line over her website, Ayayay.com. She also has used blogging and Facebook to raise awareness of her products.
"I'm really hoping that by participating [with Overstock.com] that it will really help my business grow," she said.
Byrne informally revealed his plans for the Main Street Initiative in a speech in early April at the 2010 annual convention of the Utah Hispanic Chamber of Commerce.
"I haven't heard anything back about what our members thought of that proposal," said Ryan Reeder, a member of the chamber's board. "But I do know that right after his speech, he was surrounded by 15 to 20 people who all wanted to know more about it."
Overstock.com is hoping that its initiative will mirror the success of its Worldstock program that it launched in 2001.
Earlier this month, Byrne announced that the Worldstock program crossed the $50 million mark in payments made to artisans in such places as Bali, Columbia, Ghana, Nepal and Thailand.
"The artisans generally receive significantly more for their work by selling to us, and invest that extra income back into their businesses, without having to sacrifice the quality of their merchandise," Worldstock Director Angela Ramirez said in a statement.
Visit www.overstock.com/mainstreet.

