The Home Shopping Club
We’ve gained tremendous credibility as a enterprise for the long run—not only a mature business with no growth opportunities and no excitement, which is what HSN was once I arrived. If the turnaround hadn’t labored, I’d have been one other within the long line of CEOs who failed at HSN—and I’d in all probability be remembered because the one who purchased all those fancy office chairs. But greater than five years later our culture is fastened, and I know there’s far more development potential to be unlocked right here. Every day I’m making modifications to try to achieve that.
At the identical time, we labored exhausting to lure new manufacturers and new personalities to promote merchandise. I went to the Consumer Electronics Show, which I’d by no means attended before, and personally worked to get greater-finish manufacturers to promote on HSN. I signed a two-yr deal with Sephora in the beauty category. We expanded our culinary lineup by including Emeril Lagasse and Todd English.
While all this was happening, I was also working to reposition HSN as a brand. I introduced in brand technique consultants to learn about shopper perceptions of the network. I started at HSN in May of 2006, and by October we had rolled out a new brand image, a brand new tagline, a new vision assertion, a new customer manifesto, and new promoting. I made it clear that I had zero intention of chasing QVC and that we were going to set a completely new path for HSN—one that would create a brand new lifestyle experience for consumers.
Evaluate the idea you wish to present to the Home Shopping Network carefully. Your product must be designed properly, and it should fill a need for the buyer. If all you could have is an idea, nevertheless, it might be useful to create some illustrations or designs to help showcase your product in one of the best light. Jewelry Television, a TV shopping network targeted completely on jewelry and gemstones and a direct competitor to QVCHSN, has also aggressively pursued a digital and cellular strategy for their enterprise.
- The exhibits reach tens of millions of viewers and offer them, not requirements, but the little luxuries of life, out there with a cellphone call and a credit card.
- At times derogatorily known as QVCZ, the channel brought cubic zirconium to the forefront of the shopping public’s consciousness with its sales of Diamonique, a low-price different to diamonds.
- QVC grew to become finest known for its jewelry sales, which accounted for 35 % of its programming time, and made it one of the world’s largest purveyors of 14-carat gold and sterling silver jewelry.
- However, HSN continues to be finest recognized for television sales.
We’ve grown yearly since then—at this writing, our inventory value is about $35, and our market cap is close to $2 billion—and I believe we’ve proved the elemental resilience of our business model. HSN is likely one of the few networks that may be an entire client destination—for shopping, for sharing, for gaming, for info, for leisure. I wish to be where our shoppers go as quickly as they wake up—whatever they’re in search of. Once we had decided on a brand new positioning for the brand, we had to adjust the product mix. In my first 12 months we stopped selling $a hundred and fifty million value of manufacturers that didn’t match the new strategy.
Tag: Home Shopping Network
When I look again, I still don’t know how we obtained it all carried out so shortly. In order to give attention to HSN, I needed to remove some of the distractions.