Qurate Retail, the parent company of QVC and HSN, reported a 4% decline in revenues year over year, contributing to an overall drop of 11%.
Revenues for the company's lifestyle brands fell 11% due to soft housing starts and a shift to lower-ticket products.
Consumers are becoming more selective in their spending, opting for lower price points and showing caution in large purchases.
Qurate Retail's Q50 marketing initiative, targeting women over 50, is considered a bright spot as this demographic has high discretionary income but often feels overlooked by brands.