Tuesday, May 5, 2009

Virtual retail market expands, shopping on TV comes of age

From jaded showbiz personalities endorsing 'divine gemstones' and miraculous 'weight reducing products' at unearthly hours to 24 hour shopping channels, the virtual retail market on the idiot box has come of age. Selling almost everything from latest gadgets to beauty products with on-air demonstrations and multiple ordering options, shopping channels on television look set to don the cap of potential virtual sellers, say market experts. The launch of Network18 group's Home Shop18 last year, added a new dimension to this genre of shopping. Boasting of India's first 24 hour shopping channel, it is an online and on-air platform operating on the web, catalogue and print in tandem with TV. Joining this new shopping bandwagon is another leading media and entertainment company, Star TV. The company has announced a 50:50 joint venture with CJ Home Shopping, a Korean based regional home shopping group to launch a 24 hour home shopping channel in India, along with an online version in the second half of 2009. "India remains a fast growing retail market and the formation of this joint venture represents yet another step in our growth trajectory," says CEO of Star TV, Paul Aiello. PTI

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