QVC releases impressive second quarter earnings in 2016, with online sales success in 2017 expected to rival Wal Mart.
The shopping channel QVC, an acronym for quality, value and convenience was born in 1986… and you won’t believe how profitable the retailer has been in 2016, let’s just say someone is going to have a very nice holiday. QVC’s online sales have grown from 29% of total US sales at the end of 2009 to 51% in the second quarter of 2016. QVC has risen to fifth place in sales for mobile commerce retailers, and their mobile sales income this year is expected to rival that of WalMart according to Internet Retailer. What’s the key to their growing success even as cable subscriptions are on the decline? The company has adapted well to digital shopping and the use of online and mobile apps, helping gain a presence beyond it’s cable base. In fact, 90% of QVC’s business is via repeat shoppers and the average QVC shopper buys between 22 and 25 items a year. Expect QVC to thrive well into the future for two reasons: their ability to adapt to circumstances and their methods of growing and maintaining a loyal customer base.
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