PYMNTS.com: QVC’s Financial Results Prove Home Shopping Has Strong Staying Power

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When Amazon purchased a home shopping network, many found it unusual for the e-commerce giant. However, the financial success of West Chester-based Qurate Retail Group, the parent firm of QVC and HSN, effectively demonstrates the strong staying power of home shopping, according to a report from PYMNTS.com.

The company brought in $14.1 billion in revenue last year, as QVC’s shoppers seem to have transitioned well into the digital age. Two years ago, 51 percent of QVC’s revenue in the U.S. came through online sales. Last year, that number grew to 62 percent with 66 percent of all digital sales coming from mobile apps.

The home shopping format is also gaining traction outside of traditional cable channels. For example, QVC’s Jill Martin brought in around $60 million in e-commerce revenue for the Today Show in 2018 with her “Steals & Deals” segment, with around $12 million from online sales just during Thanksgiving week.

“People want to buy something from someone they trust,” said Martin. “I have established that trust with the viewer.”

Read more about QVC at PYMNTS.com here.

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