🎥 QVC Launched A 24-hour Live TikTok Shop Channel Shop — The Minnow Eats The Whale
QVC basically invented live shopping. Founded in 1986, QVC was THE TV channel dedicated to shopping, filled with programming of hosts hawking different products and getting people to call in to make purchases. QVC still makes $10 Billion in annual revenue.
And starting this month, QVC is now launching on TikTok to show non-stop, 24/7 live shopping streams. Why? Because TikTok Shop has become the home of live shopping in the US. For younger generations, TikTok IS the new QVC.
We’re in the middle of modern media shifts. The same way that newspapers and television are giving way to social media and gaming, QVC is giving way to TikTok Shop.
There is always change in media but some eras are more dramatic than others. We’re entering a new live shopping era in the West.
That’s even what QVC’s CEO Dave Rawlinson is saying, “Everybody’s been talking about this being the next big thing in retail for five or 10 years but it never quite has hit. I think this is the start of it really hitting. And that’s the TikTok bet. That’s our bet.”
In fact, on QVC’s latest earnings call, they literally described their new strategy as transforming themselves into a “live social shopping company.” And how could they not? QVC’s TV viewership has gone down 44% over the last six years.
For a legacy TV company however, pivoting to social is easier said than done. TikTok Shop is similar to but not exactly the same as QVC.
What is QVC’s content strategy? Copy and paste what they do from TV and put it on TikTok? How will they work with creators? How will they compete against other brands on TikTok? Why should Gen-Z care about QVC?
In TikTok’s ideal world, TikTok Shop will displace QVC. And social commerce will keep growing as platforms like YouTube, Instagram, and Amazon all build new live shopping features.
QVC’s record for most units sold in a single day came in 2013 when Halo2Cloud sold 380,000 chargers for $19 million. Last year, the creator Stormi Steele sold $2 Million worth of product on a TikTok Shop livestream on Black Friday.
As TikTok Shop continues to grow, I can expect us to eventually see someone sell $19 Million worth of product in a day.
Mobile advertising has demonstrated its ability to be more intimate, impactful, and interactive than traditional TV advertising. Mobile live shopping has the potential to be the next evolution in the TV live shopping pioneered by QVC.
At PWR House, we’re super excited to be working with brands who are taking this plunge into TikTok Shop and the social commerce world more broadly. The brands who are early in taking advantage of this opportunity will honestly get the biggest rewards.
