By George Anderson
QVC, the home shopping network, is sweeping up a growing number of television viewers and their purchasing dollars, reports Bloomberg News.
Greg Maffei, the next CEO at QVC parent company Liberty Media Corp., said the business will generate close to $7 billion in revenues this year with about $1 billion of that coming from purchases made by consumers online.
The company is also looking to acquisitions to grow its business. Last month, it announced a deal to buy Provide Commerce to add flower and meat sales to its online business.
"We do hope to continue to do things like the Provide Commerce deal," he said at the Consumer Electronics Show in Las Vegas. "You'll see more deals over the next few months that are synergistic with our existing businesses."
Moderator's Comment: How will sales made through television shows compare to the overall trend in retail? How will the continuing convergence of technologies and channel expansion impact retailing in the future? - George Anderson - Moderator