Dec 11, 2018

Startups aim at "QVC for millennials"

Illustration: Rebecca Zisser/Axios

No one has yet built a “QVC for millennials,” but that’s not stopping entrepreneurs from trying to put a uniquely tailored twist on home shopping.

The bigger picture: A slew of companies are working to marry millennials’ affinities for online video and shopping — and capitalize on their arrival as the most populous generation.

  • Millennials love watching video online: 61% of young adults in the U.S. primarily use a streaming service to watch TV, according to a 2017 Pew Research report, and 35% of millennials picked YouTube as their preferred video provider for long and short-form content, according to a recent Comscore survey.
  • Millennials love to shop online: In 2016, millennials made 54% of their purchases (excluding groceries) online, and 63% complete transactions on their smartphones, according to UPS.

A number of startups are tackling the challenge of marrying these trends, each from a different angle.

But, but, but: Home shopping giants QVC and HSN aren’t giving up on millennials just yet. The companies, both owned by Qurate Retail Group, are making changes to the products and brands they sell and adopting streaming and social media to reach younger audiences.

Go deeper

Humility for forecasters: Jobs shocker is record miss

President Trump speaking in the Rose Garden following the release of the jobs report on May 5, 2020. Photo: Jonathan Newton/The Washington Post via Getty Images

Economists were projecting that May's jobs figures would show a loss of 8 million jobs and an unemployment rate approaching 20% — Great Depression territory.

The state of play: Instead, a record 2.5 million workers were added, and unemployment fell to 13.3% from April's post-World War II high of 14.7%.

Updated 53 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 a.m. ET: 6,772,361 — Total deaths: 395,703 — Total recoveries — 2,772,730Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 1,898,401 — Total deaths: 109,137 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: Fauci: "Very concerned" about spread of coronavirus amid George Floyd protests — Cities offer free coronavirus testing amid protests
  4. Sports: How coronavirus could reshuffle the sports calendar.
  5. Jobs: Better-than-expected jobs report boosts stock market.

Trump's week of viral quicksand

Data: NewsWhip; Chart: Andrew Witherspoon/Axios

Stories about President Trump's photo op at St. John's church after peaceful protesters were forcefully cleared from the area averaged the most online attention of any issue about the president this week.

Why it matters: Trump's force-over-compassion approach to the demonstrators protesting the murder of George Floyd had Republican allies backpedaling to keep a distance — and led to a wave of condemnations that got plenty of online traction on their own.