ShopNBC

ShopNBC

ShopNBC is an American broadcast and cable home shopping network, owned and operated by ValueVision Media.

ShopNBC headquarters is in Eden Prairie, Minnesota.

Its main competitors are HSN (Home Shopping Network) and QVC.

ShopNBC was previously known as ValueVision, which was founded in October 1991 former executives of the Cable Value Network headquartered in Eden Prairie, Minnesota. After a brief time as a local, afternoon shopping program in 1990. ValueVision entered into a 10-year 300 million dollar trademark licensing agreement with NBC in November 2000, a year after NBC purchased a stake in the network; the following June, it rebranded as ShopNBC.

ShopNBC as a home shopping channel was noted for higher price points compared to the competition, averaging $225 per transaction. The shopping network's high-end jewelry contributed to these higher price points with designers such as John and Laura Ramsey, Neda Behnam and Sonia Bitton routinely selling gold and gem pieces for over $2,000. Recently, with the downturn in the economy and the rising prices for gold, these high-end pieces have disappeared in favor of more affordable silver and costume jewelry pieces.

In the past few years, ShopNBC has expanded into sales of household items such as Serta mattresses, consumer electronics such as computers and big screen TVs, skincare products such as Isomers and Prai Beauty and home goods.

As of 2012, ShopNBC holds an "A-" rating from the Better Business Bureau of Minnesota and North Dakota for properly addressing consumer matters. As of 2013, ShopNBC holds an "A+" rating.

Due to economic uncertainty and NBC Universal's upcoming possible merger with Comcast, NBC was thought to be selling their stake in ValueVision and announced they would do so in May 2010, forcing a change in name, but decided to retain the stake in June 2010 for the time being.

ValueVision announced in May 2013, that they had paid for the remaining portion of the financial stake of the network to NBC. In doing so, ValueVision will rename the shopping channel to ShopHQ no later than early 2014.  From Wikipedia, the free encyclopedia