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11-12-2019 05:24 PM
They have been tanking for years and meanwhile George and his cronies have done nothing but talk spin. They should have canned him years ago. The feedback now about what needs fixing isn't new. Some of us have been saying the same things for close to the last decade. They didn't listen and now growth isn't just minimal but there are significant losses. They don't get it. They can't get their mojo back. They need a new mojo and they don't get that either. He can talk tailwinds and headwinds and the rest of the MBA blather all he wants but the bottom line is that QVC is boring, it's pricey, the product mix is stale, presentations aren't engaging, and product fulfillment is unreliable. Why would any reasonable executive expect consumers to choose this retailer...
11-12-2019 08:53 PM
Linda Moss aka Homeshoppingista has a new blog post about the 2019 3rd quarter results
https://homeshoppingista.wordpress.com/2019/11/12/qvc-hsn-sales-decrease-4-in-third-quarter/
but dig a little deeper and look at her post about Qurate from nearly a year ago - November 20, 2018. See what Michael George was spin doctoring back then on investor day about attracting new customers, speeding up shipping fullfilment, discussing the new warehouse in PA, and wringing cost savings through corporate synergies with QVC and HSN:
Just a sample here:
”We recently announced a multiyear plan to reduce delivery times by two days and increase package consolidation by integrating our HSN and QVC US fulfillment networks,” George said. “This is just one example of how we are investing to ensure that our service promise stays among the best.”
(The whole Qurate press release from their investor day November 19, 2018):
So do you think that CEO Michael George has been very successful in meeting those goals he stated nearly a year ago? I don't at all.
11-12-2019 09:09 PM
So the beauty category has been one of the bright spots at QVC's financials but going forward, things aren't looking so great as the beauty industry (mainly color cosmetics) is taking a hit as young women are shifting their beauty dollars to skin care instead of makeup like foundations, concealers, and eyeshadows.
Michael George doesn't specifically mention that young teen girls (who aren't going to be buying from QVC anyway) don't want to look like an instagram beauty guru with drawn on sharpie eyebrows, caked on foundation, concealer, contour, eyeshadow, lashes; and a drawn on trout pout. In real life they want to look natural and pretty and many don't want to wear makeup at all.
This trend also known as the "VSCO girl" I think is also moving up into older generations like millennials who want clean beauty skin care and want to also look pretty with a minimum of makeup products.
But these young women are going to be looking for a bargain and QVC and HSN aren't likely going to be their shopping destination as those teens and young women will shop where they can get a discount or use a loyalty program like Ulta and Sephora.
Just looking at the beauty brands at QVC and HSN, nearly all of those name brands can be bought elsewhere and probably with free and quick shipping and with a loyalty program as part of their purchases so they can get something back like money or more beauty products for free.
I don't think that QVC and HSN can compete except for things like a TSV beauty kit.
11-12-2019 09:36 PM
@TY wrote:So the beauty category has been one of the bright spots at QVC's financials but going forward, things aren't looking so great as the beauty industry (mainly color cosmetics) is taking a hit as young women are shifting their beauty dollars to skin care instead of makeup like foundations, concealers, and eyeshadows.
Michael George doesn't specifically mention that young teen girls (who aren't going to be buying from QVC anyway) don't want to look like an instagram beauty guru with drawn on sharpie eyebrows, caked on foundation, concealer, contour, eyeshadow, lashes; and a drawn on trout pout. In real life they want to look natural and pretty and many don't want to wear makeup at all.
This trend also known as the "VSCO girl" I think is also moving up into older generations like millennials who want clean beauty skin care and want to also look pretty with a minimum of makeup products.
But these young women are going to be looking for a bargain and QVC and HSN aren't likely going to be their shopping destination as those teens and young women will shop where they can get a discount or use a loyalty program like Ulta and Sephora.
Just looking at the beauty brands at QVC and HSN, nearly all of those name brands can be bought elsewhere and probably with free and quick shipping and with a loyalty program as part of their purchases so they can get something back like money or more beauty products for free.
I don't think that QVC and HSN can compete except for things like a TSV beauty kit.
There is so much wrong that I don't think he can fix anything. The fact that overnight live shows have stopped and killing us with showing the TSV all day is pathetic. That tells me the TSV's are not selling. Do they think if we watch it for 20 hours we will want to buy it??? The TV goes off here. We are looking for gift idea's, not a toothbrush. Yes, prices are getting out of hand. I buy no clothing because I can get 6 tops locally for the price of 2 at QVC. I know many of us have enjoyed shopping at the Q over the years, but they will tank with this guy in charge.
I know that today I had to turn it off because the host don't know when to breathe. Talking 500 miles an hour does not sell products and this is a old host. There is nothing we can do but express how we feel here, but we have been doing that. So we will sit by as the Titanic sinks.
11-12-2019 11:04 PM
The only happy takeaway was that presentations of vacuums mattresses and pillows are at saturation levels so maybe these will go away. I don't believe for a minute that showing the TSV all night is increasing sales--it's strictly to lower the cost of live programming. As for jewelry, when they shifted from affordable Silver Style type shows to mostly designer lines at exorbitant prices it was idiotic. I'm not spending $400 for a pendant because some designer says it has spiritual qualities to center my soul.
And whoever selected the company that transcribed the phone call must have hired their cousins who failed punctuation in school.
11-13-2019 06:42 AM - edited 11-13-2019 06:46 AM
MORE WOMEN IN THE EXECUTIVE SUITE WOULD HAVE SAVED QVC?
Oh, sorry. Clarie Watts was CEO for years and contributed significantly to the demise until her resignation.
Currently, you have Mary Campbell. Chief Merchandising Officer, who heads product selection, product promotion, product development, TSV design and pricing.
OK, we can give Leslie Ferraro a chance to turn it around since she just started, but it may be too late.
You need smart management, not gender specific management.
11-13-2019 06:51 AM
Thanks for the update. I'm not surprised at the results, particularly in jewelry. Their inventory is horrible these days.
11-13-2019 09:22 AM - edited 11-13-2019 09:40 AM
Much of this seemed like BS to me. They even misspelled Shawn as Sean mentioning her shows. Nice to know your longtime hosts better than that. Counting on Carmindy Beauty to pull you out of the "beauty hole"? Laughable.
11-13-2019 09:36 AM
11-13-2019 09:36 AM - edited 11-13-2019 09:37 AM
It seems so easy to just read the forums and see what we're buying, what's missing, where pricing' s off compared to other retailers, why long time viewers are no longer watching....All the info they need to make an effort to stay afloat is right here!!! Stop with all the mumbo jumbo and read the true facts. Get busy with the matters you can change.
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