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ShopNBC Cyber Monday Sales Rose 36% and Black Friday Sales Rose 12%(December 01, 2010)
MINNEAPOLIS, MN -- (Marketwire) -- 12/01/10 -- Holiday sales of ShopNBC (NASDAQ: VVTV), the premium lifestyle brand in multi-media retailing via TV, online and mobile platforms, are off to a strong start with total company sales rising 36% on "Cyber Monday" vs. last year, led by a 59% increase in online sales. As a percentage of total sales on Cyber Monday, e-commerce sales penetration rose to a record 56%, as compared to 48% a year ago.
ShopNBC places substantial emphasis on cross-promoting the flexibility, ease of use and customer benefits of its online sales channels, such as improved customer engagement, order tracking, ValuePay, and management of returns. The on-air strategy has enabled ShopNBC to achieve higher average e-commerce sales penetration than its multi-media retailing peers. For ShopNBC, higher e-commerce sales penetration has led to improved customer satisfaction, lower returns, and reduced costs.
ShopNBC's total "Black Friday" sales rose 12% vs. the prior year, driven by a 54% increase in online sales. As a percentage of total sales on Black Friday, e-commerce sales penetration rose to 51%, as compared to 37% a year ago and 40.5% during Q3 2010.
Keith Stewart, ShopNBC CEO, said, "The multi-channel shopper was quite active at ShopNBC over the Holiday Shopping Weekend, from Black Friday through Cyber Monday. We achieved sales gains and increasing e-commerce sales penetration by keeping the customer's interest and attention over a sustained period of time on our multiple platforms of TV, online, mobile and social media.
"Video game consoles, big screen TVs, GPS devices, along with jewelry and watches, were some of the principal categories of interest to our customers. The ease and convenience of shopping remotely, combined with our unique and ever-expanding product assortment, helped to drive much of the sales gains.
"Additionally, ShopNBC's focus on highlighting the benefit of online shopping continued to resonate with the consumer. Going forward, we remain highly focused on keeping the customer's appetite satisfied with new products, exciting programming, and strong service to continue building loyalty and community during the Holidays and beyond."
ShopNBC is a multi-media retailer operating with a premium lifestyle brand. Over 1 million customers benefit from ShopNBC as an authority and destination in the categories of home, electronics, beauty, health, fitness, fashion, jewelry and watches. As part of the company's "ShopNBC Anywhere" initiative, customers can interact and shop via cable and satellite TV in 76 million homes (DISH Network channels 134 and 228; DIRECTV channel 316); mobile devices including iPhone, BlackBerry and Droid; online at www.ShopNBC.com; live streaming at www.ShopNBC.TV; and social networking sites Facebook, Twitter and YouTube. ShopNBC is owned and operated by ValueVision Media (NASDAQ: VVTV). For more information, please visit www.ShopNBC.com/IR.
This release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and accordingly are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein due to various important factors, including (but not limited to): consumer spending and debt levels; interest rates; competitive pressures on sales, pricing and gross profit margins; the level of cable and satellite distribution for the company's programming and the fees associated therewith; the success of the company's e-commerce and new sales initiatives; the success of its strategic alliances and relationships; the ability of the company to manage its operating expenses successfully; the ability of the Company to establish and maintain acceptable commercial terms with third party vendors and other third parties with whom the Company has contractual relationships; changes in governmental or regulatory requirements; litigation or governmental proceedings affecting the company's operations; and the ability of the company to obtain and retain key executives and employees. More detailed information about those factors is set forth in the company's filings with the Securities and Exchange Commission, including the company's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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