The Top 500 retailer buys Campus Deals, which offers mobile coupons to college students.
TV shopping network ShopHQ boosts online sales 10% in Q2 thanks to 22% more customers
Mobile sales represented 23% of total e-commerce revenue for ShopHQ, formerly ShopNBC.
Associate Director of Research
Online sales and total sales registered solid growth during the second quarter for television shopping network and e-retailer ShopHQ.
For the period ended Aug. 3, 2012, ShopHQ, which recently rebranded from ShopNBC, reported:
- Online sales of approximately $67.2 million, up 9.6% from $61.3 million in the second quarter of 2012.
- Mobile sales were approximately $15.5 million, up about 58% from $9.8 million last year.
- Total sales of $149million, up 10.3% from $135million. The number of consumers that made a purchase increased 22% versus the same period last year.
- Net loss was $1 million during the quarter, compared with a loss of $4 million last year.
Online sales represented 45.1% of total sales during the quarter, compared with 45.4% last year. Mobile sales represented 23.0% of e-commerce revenue in Q2 versus 16.0%.
ShopHQ, No. 98 in the Internet Retailer Top 500 Guide, says strong results in the fashion, accessories, home and consumer electronics categories drove growth during the period. “We continued to make progress in broadening our product offerings as well as accelerated new and retained customer growth,” says Keith Stewart, CEO of parent company ValueVision Media Inc. “Our rebranding to ShopHQ, your shopping headquarters, is progressing well and our customers are responding positively."
For the first half of the year, the e-retailer also reported:
- Online sales of $137.1 million, up 10.3% from $124.3 million in the first half of 2012.
- Total sales of $300 million, up 10.3% from $272 million.
- Net income was $200,000 compared with a loss of $13 million last year.