In its second-largest acquisition, Amazon buys the company for $970 million.
(Page 3 of 3)
The increasing number of retailers and manufacturers willing to get on board with the new concept, and the sales growth rate so far suggest it’s a risk worth taking, particularly in the current climate. “People are seeking comfort and security of home and community as a physical and an emotional space,” says Baldwin. “If you look at ShopNBC and the space in which it operates, you have an interesting convergence of easy to access home-based retail channels. Blend that with what you’re seeing in consumer behavior now, and the time is right.”