QVC , HSN, ShopNBC
Not unlike America’s mass retailers, sales are down at all of the major television shopping channels. As an example QVC announced today that they will cut 700 jobs to reduce costs to offset slow sales.
Profits at the shopping channel giant fell 23% because of slowing sales. In addition, all of the networks are suffering from customers defaulting on their in house credit cards. This is not unlike the rest of the credit card industry. For shopping channels this problem is compounded by the fact that there is no cash customers.
How does this effect future shopping channel vendors and entrepreneurs? No matter how bad the economy gets shopping channels are always looking for new products. New, innovative, “never seen that before” products are their lifeblood.
You must make it an easy decision. Shopping channel executives are measured based on the their ability to pick winning products. It is a lot safer to say no then it yes to a new item. You have to make saying yes to your product an obvious answer.
You have one chance at a first impression. With the market as it is one shot is all you have. If your product is not prime time ready with all of the networks requirements met up front you will not get on. Chances are you will never get a chance to represent that product again.
If you do not have extensive experience working directly with shopping channels such as QVC, HSN or ShopNBC I highly recommend that you secure the services of an experienced agent.
An experienced agent can, first off, get you a meeting with the right buyer in days not months, but more importantly he or she will know the best way to position your product for success, meet the network requirements and over come any objections that the buyer may have well in advance.
The bottom line is that there is still great opportunity to prosper working with the shopping networks but little room for mistakes.
Welcome to the shopping channel blog of Western Creative. Just to get you acquainted with WCI we are a full service advertising agency that has a depth of experience in the shopping channel business.
As an agency we have been involved with this category of business for many years, representing many manufacturers, inventors and entrepreneurs. But we have also walked the walk so to speak; we have also sold millions of dollars of our own products to the shopping channels. In other words we have taken the big risks, sweated about the outcome and personally experienced all that can go right or wrong. So in other words, I know how you feel.
Our goal with this blog is to provide you with an on-going source of information about the entire industry, which includes QVC, HSN (Home Shopping Channel, Shop NBC and others. Through my experiences I have found that there is more misinformation and bad advice out there then good, accurate data. We hope to change this.
Not every product is right for the shopping channel environment, but if your item connects with viewers and you have the right systems and management in place QVC, HSN and Shop NBC can be a wonderful place to launch a product, expand your sales and to make money.
If getting your product on one of the shopping channels is your goal let give you your starting point. First visit the web site of each channel and learn what they offer and do they have anything like you are offering. If they do, understand and be ready to articulate why your product is different, better, and why their viewers will want it.
Next watch the channel that you have interest in. Become familiar with it. They are all different in their own way. The better you understand their unique voice the more prepared you will be to work with them.
We will be updating this frequently with information, advice and reports from the front lines working within the industry. If you are currently or have worked with any of the shopping channels we encourage you to send us your comments and experiences.
If you are working toward getting your product on to QVC, HSN or ShopNBC let me invite you to visit our web site at westerncreative.com. And of course, you can always call or email us directly for information or advice.