| Price Drop | |
|---|---|
| Launched | 11 June 2003 |
| Owned by | Bid Shopping |
| Picture format | 16:9, 576i (SDTV) |
| Country | United Kingdom |
| Broadcast area | United Kingdom |
| Formerly called | Price-Drop.TV (2003-2005) Price-Drop TV (2005-2011) |
| Replaced | Screenshop |
| Sister channel(s) | Bid Speed Auction |
| Website | www.price-drop.tv |
| Availability | |
| Terrestrial | |
| Freeview | Channel 37 |
| Satellite | |
| Sky | Channel 645 |
| Freesat | Channel 801 |
| Cable | |
| Virgin Media | Channel 741 |
| Smallworld Cable | Channel 702 |
Price Drop is a British television shopping channel based in the UK, that runs daily live reversed auctions. It was the first reverse auction channel of its kind in the world. The channel first launched as Price-Drop.TV. The channel is owned by Bid Shopping.
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The channel began broadcasting from 4pm to 12am, Wednesdays to Saturdays, on 11 June 2003. The hours of live broadcast have been extended since and currently operates from 7:45am to 1:30am, 7 days a week. It is available to more than 12 million homes in the UK, and makes weekly revenue of over £3 million.
Prior to December 2004 each 'price drop' started at the guide price. After guide prices were removed it is no longer possible to judge how closely the starting prices reflect the true value of products. A certain number of units of a product are advertised at a specified price, and buyers can place orders by telephone. The price is decreased in steps until all units are sold. All purchasers pay the final, lowest, price. Occasionally the channel has promotions where a small number of products "Megadrop" to £1 during a special event (it appears to be random, but directors choose which products will Megadrop beforehand). Megadrops are also used on Bid TV, but Price-Drop TV was the first to use the promotion.
In October 2005 a start price graphic was introduced, effectively reinstating a rephrased guide price. The "start price" was used to show the starting price of the reverse auction, but was not used to represent a value or worth. Until 10 May 2006, prices were stated in pounds only; on that date the graphics were changed and products are sold in pounds and pence.
On 1 August 2011, 'Price-Drop TV' rebranded as 'Price Drop' dropping the 'TV' and '-' from the channel's name.[1] Along with the new name, new buying graphics were introduced on all three Bid Shopping channels and new idents compromising of different 3D products flying around the new logo designs were shown. The new design was created to make buying easier for the viewer. At the same time as the new channel design, multi-buy was introduced on certain products where the viewer can select to buy more than one product at the same time (p&p is still applied to each item).
On 1 October 2004, the channel had to change the multiplex it was broadcast on, due to its owner; ITV plc wanting to use the capacity to launch ITV3 a month later on 1 November.
On 5 January 2009, Price-Drop TV was removed from Freeview,[2] due to Sit-Up Shopping losing its license to broadcast on multiplex A. This was because it was outbid for renewal of its carriage contract by Discovery Networks UK, which launched the entertainment channel Quest.
In August 2009, the channel returned to Freeview, however due to its capacity timesharing with another channel, its broadcast hours were limited to 08:00 to midnight.
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Although the presenters are male and female, the assistants are, at least currently, exclusively female.
Note: Not all staff are mentioned above
A pilot retail outlet at the Hatfield Galleria opened in 2004 selling goods initially at close to RRP, and dropping the price each day. Another store opened at Kingsgate Shopping Centre in Huddersfield around the same time. Due to the global recession and questions over stock quality, both stores were closed in April 2009.[3]
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