Discovery shifting focus to e-commerce
Discovery Communications announced that it will be closing both its mall based and standalone stores. The move will lay off 1,000 employees from 103 stores. According to David Zaslav, president and CEO of the company, Discovery will now be focusing on e-commerce and liscencing options. Discovery products like DVDs, telescopes etc will still be available at retail stores such as Toys ‘R’ Us as well as the Discovery Channel Airport stores. The main focus of the company will be to sell merchandise via the internet, on television and by catalog. The company’s website, Discoverystore.com receives 12 million unique hits per year and e-commerce sales have increased by 144%, which is the direction the company will be taking.
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