HSN CEO Mindy Grossman breaks down the growth of online consumerism.
Whether its Cyber Monday or Black Friday more shoppers are clicking away to take advantage of the latest holiday discounts and more of those purchases are being made on a mobile device versus the once popular flagship stores.
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“This [mobile] is the flagship today. This is where the traffic is, it’s the first place people go even for engagement, even to see what they want to buy,” said HSN (NASDAQ:HSNI) CEO Mindy Grossman during an appearance on FOX Business Network’s The Intelligence Report With Trish Regan.
Overall 122 million Americans are expected to shop online Cyber Monday, in-line with last year, according to a survey by the National Retail Federation and Prosper Insights & Analytics.
Grossman said demand is rising because online shopping is transparent when it comes to price which is what shoppers crave.
“Consumers have definitely engaged over the course of the last week, but it really is about the deals. It really is about promotions. So if you do want to differentiate yourself, it’s about exclusivity of product along with that price, but it’s also about assortment and also about the engagement and the products that you have,” she said.
HSN continues its philosophy of customer engagement by making itself distinctive in the online shopping environment. The shop-at-home retailer has partnered with country singer Keith Urban to sell his guitars and offer its viewers live performances.
“That’s just part of the equation. In our other businesses, like Ballard and Frontgate, we launched augmented reality so you can actually see where products are in your home and you can do that digitally,” Grossman said.