Price-drop.tv launches stores

Shopping channel Price-drop.tv is opening a chain of retail outlets, following a successful pilot launched in Hatfield, Hertfordshire last month.

The 3,000 sq ft (2,785 sq m) store opened on May 30 and has risen to rank eighth highest by sales out of 80 stores in the Galleria Outlet Centre.

Christien Haywood, marketing manager at Price-drop.tv parent Sit-up TV, said he is looking for another 10 shops this year and 10 in 2005.

More stores will open in outlet centres before the company considers expanding into malls and high streets.

Price-drop.tv was launched last year. Viewers are presented with a limited number of any given product and phone in to buy as the price falls. 'At first we were concerned people wouldn't get it, but it's really caught on,' Haywood said.

The Hatfield outlet follows the same principle as the TV channel - prices fall on a daily or weekly basis to a preset base. The store stocks the same merchandise as the channel, such as jewellery, electricals, sports equipment, and toys.

Sit-up TV is owned by US-based Alpine Investments, Telewest and management.

It also owns Bid-up.tv and Screenshop. Sit-Up TV made its first Ebitda profit last year of£1.5 million, on sales of£119 million.