I must confess that I have never purchased anything from a home shopping network. But, I can see how addictive channels like HSN can be. The merchandise seems to be priced fairly, the on-air talent is very persuasive, and the countdown creates the perception of the need to act immediately--or lose out.

I selected HSN for the debut of ShopTalk because the network is known for having its finger on the pulse of consumers. Its business strategy depends on selling what people want to buy now. If bracelets are hot, extra time is devoted to that item. HSN has unique insight into what customers are watching, buying, and returning.

That's not the only competitive advantage. Because television shopping networks don't have dedicated floor space to fill, they can adjust their inventory easily and quickly. They buy their merchandise in relatively small increments to ensure they are not stuck with a lot of undesirable items. And Marshal Cohen at The NPD Group also says home shopping has the added allure of "stealth shopping." In other words, in the current economic environment, many people are uncomfortable telling family and friends they are heading to the mall. It's much easier for them to buy things on the sly, in the comfort of their home.

I featured Stefani Greenfield's Curations line because I was puzzled by the success of her trendy accessories and clothing line in these tough economic times. She explains consumers don't just want value--they also want something that is unique. I buy that.

The other "hot seller" categories that Mindy Grossman, CEO of HSN, Inc., mentioned were more predictable. She says fitness equipment is doing well, presumably because people are giving up gym memberships. Pots and pans are doing well, due to the fact that people are eating home more. In addition, consumers are increasingly making smaller "strategic buys". For example, buying sheets sets that will give their bedroom an updated look--rather than investing in a bigger renovation

Have any of you ever bought anything on a home shopping network? Do you get sucked into buying things you later regret? Or was it a smart purchase? Do you think shopping networks like HSN have a better sense of what consumers want compared to bricks and mortar stores? Or is that just hype?

More importantly, should I buy that black shirt with the sheer sleeves that Stefani Greenfield picked out for me?