QVC is doubling down on its tried-and-true audience (women 50 and older).
Under a new agenda called the “Age of Possibility,” QVC has assembled a collective of 50 celebrities, activists, entrepreneurs and prominent women from many walks of life. She will host panels, participate in live QVC broadcasts, offer advice on products and programming, and discuss body changes, relationships with children, dealing with aging parents, dating, beauty and skin care, and other topics and topics of interest to women 50 and older.
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QVC calls its team the “Quintessential 50,” or Q50 for short. A diverse group including Martha Stewart; Queen Latifah, Naomi Watts; chef Carla Hall; CEO of the American Cancer Society, Dr. Karen Knudsen; tennis great Billie Jean King; Renee Wilm, CEO of the Las Vegas Grand Prix; Patti LaBelle and QVC program hosts are some of them.
“We want their rich experiences and diverse perspectives to help guide our evolution and connect women to what’s truly possible at this stage of life,” Annette Dunleavy, QVC’s vice president of brand marketing, told WWD. “We have always focused on women over 50, but we began to realize there was a bigger reason for serving this group. This is an underserved demographic that is poorly supported by mainstream brands and retailers. “We believe that by celebrating women at this stage of life, we will start a dialogue and, in parallel, show the world that QVC has entered a new chapter with a new perspective, relevant products and programming.”
To further the conversation, QVC launched “Over 50 and Fabulous!” Facebook group where women can come together and discuss.
Between the new programs and products and the Facebook group, the collective aims to get more women over 50 more engaged with QVC’s multimedia platform for shopping, entertainment and learning, and to reverse the recent negative sales seen at QVC’s parent company, Coursete . Retail.
“We are breaking boundaries and dismantling old stereotypes,” said QVC host and Q50 member Shawn Killinger. “Aging with passion and purpose is something to be sought, not fought. Everything I’ve always wanted came to me later, when I was truly ready to experience it.
On April 24, the Q50 will assemble at the Grand Prix Plaza in Las Vegas. “This is a first-of-its-kind summit featuring keynote speakers and panels for the Q50 to spend a day together, get to know each other, and have candid conversations on topics that are important to them,” Dunleavy said. At the one-day special event, participants aged between 50 and 80 will talk about issues that are important to them at any point in their lives. Grand Prix Plaza is a 39-acre, multi-use complex for special events and exhibitions and is the home base for Formula One racing in North America.
In a survey with YouGov, QVC found that 62 percent of women ages 50 to 70 feel that reaching age 50 and beyond is viewed by society as a period of decline, and the number one misconception these women most want to prove wrong is that they are resistant to change and new experiences . The survey reached 3,713 participants and was conducted in March 2024.
The same study found that only 31 percent of women ages 50 to 70 felt supported by brands, compared to 58 percent of women ages 18 to 29 and 41 percent of women ages 30 to 49.
Citing data from the US Census Bureau, QVC stated that between 2022 and 2035, the over-50 segment (men and women) is expected to grow 2.5 times faster than the 18-49 segment. During this period, the population over the age of 50 grew by 13 percent, while the population between the ages of 18-49 grew by 5 percent.
The current population of 1.9 billion adults aged 50 and over worldwide is expected to increase by 70 percent to 3.2 billion by 2050.
QVC also cited statistics from AARP, the American Association of Retired People, predicting that women will control 75 percent of discretionary spending globally by 2028 and 66 percent of America’s wealth by 2030.
Stating that women over the age of 50 will have “incredibly” more spending power by 2030, Dunleavy stated that the demographic is becoming increasingly independent, autonomous and devoting more time to themselves. “We partnered with YouGov on the survey to really validate what we were seeing. . . . The age of possibilities is really going to be a great ongoing message,” Dunleavy said. “At QVC, we know that being over 50 means being full of questions, hopes and opportunities. We believe that this stage of life is a time of joyful anticipation and discovery that women should look forward to and not fear. This is a time in their lives when anything is possible and who you truly become is revealed. We see this initiative as much bigger than QVC. “We believe QVC can lead the change in how the retail and entertainment industry views women over 50.”
Dunleavy said Q50 members will provide guidance on brands and categories, making QVC more sharply curated product selection for the 50-plus female demographic. “We really want women in this demographic to be seen and heard,” she said. “We want some of the Q50 members to become ambassadors and advocates for QVC’s Age of Possibility, which he calls “a social movement.”
There’s a good reason why the number of women over 50 has doubled. According to Dunleavy, “We want more of this audience to come and watch us. We are the place for women over 50 to have fun and shop… In retail, the experience can be very transactional and very digital. At QVC, we are very connected on a human level, and community is a very strong part of our business.
“I’m 59 years old. The Age of Possibilities speaks to me personally,” Dunleavy said.
QVC’s Qualate Retail parent company reported that total revenues fell 11 percent to just over $3.14 billion in the fiscal fourth quarter ending Dec. 31, 2023, from $3.53 billion a year earlier. Excluding Zulily, which was divested in May 2023, Q4 revenues fell 4 percent last quarter from $3.27 billion in the same period a year ago. The decline in revenue was attributed to lower stock levels and consumers becoming more “picky”.
In June 2022, David Rawlinson, Qur’an’s chairman and chief executive officer, announced Project Athens, a three-year turnaround plan designed to stabilize and differentiate core businesses, expand video streaming business, strengthen customer relationships, improve execution and reduce costs. explained. “We had to go through a very fundamental transformation,” Rawlinson said when the company reported fourth-quarter results on Feb. 28. “We are now seeing the business starting to gain real momentum,” Rawlinson said. “After this year is when we’re really going to move into revenue growth, streaming, digital, a whole host of new value propositions and innovations. “We will be ready in a way that is really exciting.”
As for QVC, he said: “We will take it beyond the studio and into the world. QVC will appear in neighborhoods and in different formats. “You will see a rebranded image that is very different from the past.” The Age of Possibility and the Q50 are part of it.
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