QuoteA live database shows him that all of the cookware is selling at a rate of $7,844 a minute, which is a little low for QVC.
QuoteBy the end of the 12-minute segment, customers have bought about $350,000 worth of cookware
QuoteIn the third quarter, QVC had revenue of $1.8 billion, up 7 percent from the same period a year earlier.
Quote"A few years ago, I had more of the perception that this was a television-shopping business which would be extremely vulnerable to the Internet and e-commerce," says Douglas Anmuth, an analyst at Barclays Capital. "They've really caught up."
Ya think?! That is some impressive numbers!
http://www.nytimes.com/2010/11/21/business/21qvc.html
QuoteMr. George says 60 percent of QVC's new customers in the United States buy on the Internet or mobile devices. Of those, more than half are buying products that have not been shown on TV recently, or at all.
So, some people use a phone to buy stuff.. a lot.
its a pretty impressive business all round.
Things like that remind me constantly that I am NOT my target audience and there's a hell of a lot of money to be made if you can grasp that mass appeal.
This is hard to explain, but QVC has sort of a cult-like core following and a big fan base. It's not all blue-haired retirees, either. I do think it's mostly women doing the buying.
I always thought the people phoning in were calling from the canteen or were the cleaners.
Those are insane numbers.
The writer of the article is a friend of mine. He was working for Lehman, got to move all his stuff out in a box on TV and less than a week later move back in doing same job, in the same building. Really smart guy who knows this space super well.
I'm guessing a pretty big segment of their sales come from "shopping addicts". They actually have a program where people could ave items automatically shipped without the buyer even knowing what the items are. I know a person who has spent more than a quarter-million dollars on QVC and Home Shopping Network in the last couple of years. I've actually been to her house and it is a site to be seen. I'd like to know the exact percentage of their earnings that come from these hoarders.
I did the SEO for the UK outfit about 4 years ago before I moved to Cape Town - I can't remember the exact numbers now but at the time I was mightly impressed by their online sales and the loyalty of their online customers!
They also had an awesome birds eye view of Battersea powerstation :)
Interesting. I was asked by QVC to do SEM for them and turned them down. It looked like a sweatshop.
I was part of the big corporate wheel back then... but what I saw of QVC in London I was mightly impressed with