SOURCE: ShopNBC

ShopNBC

January 14, 2010 09:00 ET

ShopNBC Surpasses a Record 1 Million Customers

MINNEAPOLIS, MN--(Marketwire - January 14, 2010) - ShopNBC (NASDAQ: VVTV), the premium lifestyle brand in electronic retailing, today announced the company has surpassed a record 1 million customers, the largest customer count in its 19-year-old history. A diversified merchandise mix, lower price points, and an improved customer experience drove strong growth in new and active customers for ShopNBC in fiscal 2009.

Year to date, the company expects its total customer base to be up approximately 33% vs. last year. While adding over 250,000 customers in the last 12 months, the company also achieved major operational efficiencies in order capture, customer service, and fulfillment, which lowered transactional costs by approximately 20% per unit in Q4 vs. the prior-year quarter. Furthermore, as a result of industry-leading multichannel retailing initiatives during the year, ShopNBC continued to increase its overall Internet sales penetration, which is expected to be approximately 38% in the fourth quarter.

"Reaching this milestone of over 1 million loyal customers is a proud and exciting moment for all of us at the company," said Keith Stewart, ShopNBC's President and Chief Executive Officer. "It's all about connecting with the customer, and delivering a premium, customer-focused shopping experience that fosters interactive engagement and builds community. As we continue to build on our momentum, we are excited about harnessing our potential within an innovative future."

About ShopNBC

ShopNBC is a multichannel electronic retailer operating with a premium lifestyle brand. Its shopping network reaches 75 million homes in the United States via cable and satellite television: DISH Network channels 134 and 228; DIRECTV channel 316. Programming is also streamed live on the web at http://www.ShopNBC.TV. Its Internet platform, http://www.ShopNBC.com, is recognized as a top e-commerce site differentiated with compelling product demonstration videos. ShopNBC is owned and operated by ValueVision Media (NASDAQ: VVTV).

Contact Information

  • ShopNBC Contact:
    Anthony Giombetti
    Media Relations
    612-308-1190
    Email Contact