Home shopping

Home shopping

Home Shopping commonly refers to the electronic retailing / home shopping channels industry, which includes such billion dollar companies as HSN, QVC, eBay, ShopNBC, Buy.com, and Amazon.com. Home shopping allows consumers to shop for goods while in the privacy of their own home, as opposed to traditional shopping, which requires you to visit brick and mortar stores and shopping malls.

History

The home shopping / electronic retailing industry was created in 1977 when small market radio talk show host Bob Circosta was asked to sell avocado-green-colored can openers live on the air by station owner Bud Paxson when an advertiser traded 112 units of product instead of paying his advertising bill. Hesitant at first, Circosta reluctantly obliged – and to both men's great surprise, all 112 can openers sold out within the hour. Paxson sensed the vast sales potential of home-based commerce, and founded the world's first shopping channel on cable television, later launching nationwide with the Home Shopping Network (rebranded as HSN). Bob Circosta was America's first ever TV home shopping host, becoming one of the most instantly recognizable salesmen in the free world. Over the next three decades, Circosta sold over 75,000 different products on HSN, netted over 20,000 hours of live, on-air TV selling – and achieved personal product sales in excess of one billion dollars.Teleshopping or buying from a domestic television or PC was invented by Michael Aldrich whoin 1979 demonstrated real-time transaction processing from a domestic television and went onto pioneer these systems in the UK during the 1980s including the world's first supermarketsystem. Aldrich's ideas are the basis of today's internet shopping.The home shopping industry quickly revolutionized global commerce. In fact, the two most successful home shopping channels – HSN and QVC – generate a combined total of ten billion dollars in sales every year.

eBay

eBay was created in the mid-1990s by computer programmer Pierre Omidyar. The very first item ever sold by the company was a broken laser pointer. eBay currently generates over four-and-a-half billion dollars annually.

Amazon.com

Amazon.com began as an online bookstore in 1994, created by Wall Street computer scientist Jeff Bezos. In addition to books, Amazon eventually added video games, computer software, electronics, apparel, and more to its sales repetoire. The company now generates approximately eight-and-a-half billion dollars annually.

Direct response

Direct response is often considered to be a part of the home shopping / electronic retailing industry. The Electronic Retailing Association, when adding together all the combined revenues from all the home shopping companies, estimates that in 2005, the industry generated over 320 billion dollars.

References

* [http://www.tbo.com/life/MGBVPCHDGYE.html What A Great Idea It Turned Out To Be Selling Can Openers On The Radio] Tampa Tribune
* [http://www.time.com/time/magazine/article/0,9171,1075220,00.html "Can You Believe This Price?"] Time Magazine
* [http://ebay.about.com/od/ebaylifestyle/a/el_history.htm How Did eBay Start?] About.com
* [http://www.time.com/time/magazine/article/0,9171,992927,00.html Jeffrey Preston Bezos] Time Magazine
* [http://video.google.com/videoplay?docid=1223094538830947054&q=Circosta&hl=en Bob Circosta Interview about the Home Shopping Industry] Media Talk
* [http://www.sptimes.com/2002/07/30/Floridian/It_started_with_112_c.shtml It started with 112 can openers] St. Petersburg Times
* [http://www.bobcircosta.com Bob Circosta] Official Bob Circosta Website
* [http://www.retailing.org/new_site/memresources/research/facts_figures.htm Electronic Retailing Industry Research & Resources] www.retailing.org


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Look at other dictionaries:

  • home shopping — ➔ shopping * * * home shopping UK US noun [U] ► COMMERCE, E COMMERCE the activity of buying goods from websites, from special television shows, or from catalogues (= books with lists of products), without going to stores: »Insurance and vacations …   Financial and business terms

  • Home-Shopping — Home|shop|ping, Home Shop|ping […ʃɔpɪŋ ], das; s [engl. home shopping, aus: home = Heim u. ↑ Shopping]: das Einkaufen per Bestellung von zu Hause aus bes. über das Internet …   Universal-Lexikon

  • home shopping — noun uncount shopping in which you buy things at home using the phone, the mail, or the Internet …   Usage of the words and phrases in modern English

  • Home Shopping — Home Shopping,   Synonym für Electronic Shopping …   Universal-Lexikon

  • home shopping — noun Buying products and services by means of telecommunications such as the Internet or cable television • • • Main Entry: ↑home …   Useful english dictionary

  • Home Shopping — Als Teleshopping (engl. Ferneinkaufen; auch Homeshopping engl. zu Hause einkaufen) bezeichnet man eine Verkaufsform, bei der dem Endverbraucher Produkte über das Fernsehen präsentiert werden, die er dann direkt telefonisch bestellen kann.… …   Deutsch Wikipedia

  • home shopping — N UNCOUNT: oft N n Home shopping is shopping that people do by ordering goods from their homes, using catalogues, television channels, or computers. ...America s most successful home shopping channel …   English dictionary

  • Home Shopping Network — Rechtsform Inc. ISIN US4043031099 Gründung …   Deutsch Wikipedia

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  • Home Shopping Service — est une filiale du groupe M6 s illustrant dans le vente à distance. Sommaire 1 Genèse de l entreprise 1.1 Le télé achat aux origines de la société 1.2 Une internationalisation timide …   Wikipédia en Français

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