Mobile shopping surge

HSN, Inc. CEO Mindy Grossman on HSN's turnaround story, and the growth of tech-driven shopping.

HSN CEO Grossman on Using Data to Engage Customers

By Small Business FOXBusiness

Despite a challenging retail environment, HSN, Inc. CEO Mindy Grossman says the company is thriving thanks to its focus on providing unique products at a value-conscious price point.

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HSN posted sales growth of 4.2% last year and 6.0% in 2012, outpacing overall U.S. retail sales growth both years.

“You really need to have a differentiated product that [the shopper] believes is a great value for her to decide to buy,” says Grossman to FBN’s Maria Bartiromo. Grossman has been in the top spot at HSN since 2008.

Currently, HSN is seeing the most strength in beauty and home categories. Grossman says the company’s exclusive license with HGTV for outdoor furniture is representative of its focus on differentiated items.

Grossman also says HSN is dedicated to on-the-go shoppers, with mobile sales making up 15% of total HSN sales.

HSN’s Strategy

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“The first element is insight, [we focus on using] our data to create meaning, personalization and customization,” says Grossman.

Second, she says the retailer’s video-centric website encourages engagement and return visits.

“And the third has been this element of generosity,” says Grossman. In this vein, she says HSN launched an online arcade where shoppers can plan games to win prizes.

“And the last piece has been trust,” says Grossman, summing up HSN’s sales approach.

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