In a sign of the times for cable TV, the legacy home shopping brand QVC Group says that it is laying off approximately 900 staffers and consolidating operations as it pivots to focus on the opportunity presented by “live social shopping.”QVC Group is the parent company of both QVC and HSN (formerly Home Shopping Network), and is controlled by the cable and media mogul John Malone.“Linear TV is a highly engaging, highly profitable platform and it remains our cornerstone. However, as traditional TV declines and a mix of video platforms takes a greater share of customer attention, we must hurry our expansion beyond TV to find growth,” the company wrote in its annual report to shareholders Friday. “We are fundamentally redefining who we are as a company and the role we play for our customers and in retail. We enter this next phase of our turnaround with rigor and excitement.”In a statement, QVC group said that most staffers would be notified this week, with its Florida office (where HSN had been based) particularly impacted. QVC is consolidating operations in its West Chester, Pennsylvania headquarters.“Some will continue working with us for several months, mainly to support the transition of the HSN broadcast and the St. Petersburg campus,” the company said of impacted employees.Going forward, the company is articulating what it is calling its “WIN” strategy: “Wherever She Shops,” “Inspiring People and Products,” and “New Ways of Working.”There is no question that online shopping has dramatically changed all of retail, and TV shopping channels are no exception. Instead of watching QVC or HSN and calling in to buy items, consumers are watching live videos on TikTok, Instagram or Amazon, which all offer one click shopping shopping.The company is leaning into these platforms, as well as its own streaming brands, to drive engagement and sales.Meanwhile, QVC Group has been expanding its programming mix, ordering a late night talk show hosted by Busy Phillips, reality competition series, and live sports in the form of pickleball competition.
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