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HMV fall from grace

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Shares down 24% after announcing closure of 60 stores in 2011 and sales down 14% You would think HMV would be doing well after the closure of Zavvi a couple of years back. What do you think … Read More
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suspended6y, 3m agoPosted 6 years, 3 months ago
Shares down 24% after announcing closure of 60 stores in 2011 and sales down 14%

You would think HMV would be doing well after the closure of Zavvi a couple of years back.

What do you think has gone wrong? How do you think their situation could improve?
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suspended6y, 3m agoPosted 6 years, 3 months ago
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banned 2 Likes #2
Seeing as physical media is a dying format, there's no surprise a bricks and mortar shop which was already struggling with web competition is struggling.
1 Like #3
HMV charge to much and the website is run separate from the shops so you can't check stock or compare prices.

£25 for a blu-ray that costs £14 online, wonder why they are having issues?
#4
What do you think has gone wrong?

Ridiculous in-store prices.


How do you think their situation could improve?

Close. And concentrate on their online business.
#5
hoomv is such a rip off.
banned 1 Like #6
They also became victim to the DFS perma-sale syndrome. Ridiculously over-priced back catalogue CDs/DVDs didn't help either.
#7
Pity if they close HMV as they are pretty much the only place you can buy DVD's in my local city centre.
#8
midlandscomics
What do you think has gone wrong?

Ridiculous in-store prices.



Bingo!
#9
I personally find HMV over priced and can usually find the same CD/Film/Game cheaper on a number of sites.

Zavvi was a sinking ship when it was Virgin Megastores.

They need to adjust to the market. I would introduce iPod/MP3 docking stations in store where you can buy/download albums & promote their website more.
#10
All high street shops of this kind will close eventually due to the online world. All the game shops can't be far away either. Then your high street will be one giant poundland.
suspended#11
master_chief
Seeing as physical media is a dying format, there's no surprise a bricks and mortar shop which was already struggling with web competition is struggling.


Very true, they only have to look at how blockbuster has declined in the last few years to see that.

When was the last time you bought something instore from HMV?

Ungreat
HMV charge to much and the website is run separate from the shops so you can't check stock or compare prices.

£25 for a blu-ray that costs £14 online, wonder why they are having issues?


Totally agree there, i wont buy anything instore from HMV as i know every time it will be cheaper at HMV online, which isn't normally the cheapest place anyways.
midlandscomics
What do you think has gone wrong?

Ridiculous in-store prices.

How do you think their situation could improve?

Close. And concentrate on their online business.


Hit the nail on the head there haven't you :)

I would suggest they close there worse performing stores, which it looks like they are already doing. I would then bring instore prices in line with HMV online maybe with a £1 or £2 on top to cover shop rent and staff. Also making stock checking available through HMV online for instore purchases.

The main problem pricing their stock too high.
#12
Ungreat
HMV charge to much and the website is run separate from the shops so you can't check stock or compare prices.

£25 for a blu-ray that costs £14 online, wonder why they are having issues?


I totally agree with you on this, Argos seem to be doing okay thanks to their click and collect in store. There is absolutely no need apart from greed to have such inflated prices.
#13
I think they will somehow recover and continue to trade.
#14
PC World will hopefully follow suite given their horrific prices compared to deals online from elsewhere, unfortunately they are boosted and supported by DSG.
suspended#15
greg_68
All high street shops of this kind will close eventually due to the online world. All the game shops can't be far away either. Then your high street will be one giant poundland.


GAME will be along shortly.

Cant remember the last time i bought instore or online with them.

At the moment they still have loyal customers who dont know better, but once they realise it takes 2 mins to do an online search and find it for 50% cheaper they will decline further.
suspended#16
thrustmaster
Ungreat
HMV charge to much and the website is run separate from the shops so you can't check stock or compare prices.

£25 for a blu-ray that costs £14 online, wonder why they are having issues?


I totally agree with you on this, Argos seem to be doing okay thanks to their click and collect in store. There is absolutely no need apart from greed to have such inflated prices.


Thats a very good point about Argos, their prices are the same instore and online.

I don't like the excuse of instore prices being higher due to more overheads, poor excuse imo.
#17
master_chief
Seeing as physical media is a dying format, there's no surprise a bricks and mortar shop which was already struggling with web competition is struggling.


Indeed I cannot see Bluray ever becoming as popular as DVDs did.
#18
The online bricks and mortar places whorth buying any sort of physical media from now are supermarkets (on occasion) and Best Buy. Places like Game and HMV will never adjust to try and compete with these, let alone online alternatives.

Best Buy have been a breath of fresh air imo, with decent promotions already in-store.
banned#19
I literally cannot wait for GAME to go bust. I hate them with a passion. Not because they've ever 'wronged' me, but because of their utterly extortionate prices. They rely on stupid parents just going to game without checking prices.Gamestation, despite being run by game, make more of an effort.

Not so much now.

HMV is the same - they make no effort whatsoever to match competitors, and people are just working it out. Terrible overpriced stores, deserve everything they (don't) get.
#20
Starr
greg_68
All high street shops of this kind will close eventually due to the online world. All the game shops can't be far away either. Then your high street will be one giant poundland.


GAME will be along shortly.

Cant remember the last time i bought instore or online with them.

At the moment they still have loyal customers who dont know better, but once they realise it takes 2 mins to do an online search and find it for 50% cheaper they will decline further.


I don't see why more stores don't implement the same reservation policy that Argos uses for in-store. They are obviously still making a profit selling goods for the price they do online so why not offer the consumer more options and keep the high street alive.

Over the next few years it will become more apparent that stores will need to integrate the online world into the offline world to survive.
#21
thrustmaster
Starr
greg_68
All high street shops of this kind will close eventually due to the online world. All the game shops can't be far away either. Then your high street will be one giant poundland.


GAME will be along shortly.

Cant remember the last time i bought instore or online with them.

At the moment they still have loyal customers who dont know better, but once they realise it takes 2 mins to do an online search and find it for 50% cheaper they will decline further.


I don't see why more stores don't implement the same reservation policy that Argos uses for in-store. They are obviously still making a profit selling goods for the price they do online so why not offer the consumer more options and keep the high street alive.

Over the next few years it will become more apparent that stores will need to integrate the online world into the offline world to survive.


In the next few years it won't matter as games, dvd's and all other media will be streamed to your media devices negating any need for shops be it online or on the high street.
1 Like #22
If they had some form of click and collect that matched the online price (like currys) then maybe they would get more foot traffic. More foot traffic means a higher likelihood of people browsing and picking up a couple of cheap DVD's as well as what they originally came for.

As for blockbuster i've never understood why they don't offer takeaway style delivery? People are using services that either deliver via post (days) or over a network (hours) but for many this is too slow. If they offered a service where you could order online like dominos then have the DVD's or Blu-Rays and some popcorn turn up in 30 minutes along with envelopes for posting back i'm sure many would use the service.
suspended#23
vibeone
I literally cannot wait for GAME to go bust. I hate them with a passion. Not because they've ever 'wronged' me, but because of their utterly extortionate prices. They rely on stupid parents just going to game without checking prices.Gamestation, despite being run by game, make more of an effort.

Not so much now.

HMV is the same - they make no effort whatsoever to match competitors, and people are just working it out. Terrible overpriced stores, deserve everything they (don't) get.


I read an interesting article the other day, it pointed out that since GAME took over GS they have pushed GS to focus on the second hand market. My local GS stocks a 1 to 10 chart for each console and then the rest of the shop is second hand city.

Such a shame GAME bought them out.

thrustmaster

I don't see why more stores don't implement the same reservation policy that Argos uses for in-store. They are obviously still making a profit selling goods for the price they do online so why not offer the consumer more options and keep the high street alive.

Over the next few years it will become more apparent that stores will need to integrate the online world into the offline world to survive.


Totaly agree, i think Argos have got it spot on.

If i could reserve an item at HMV at the online price then pick it up instore same day, i'd definitely make a trip into town.
suspended#24
greg_68

In the next few years it won't matter as games, dvd's and all other media will be streamed to your media devices negating any need for shops be it online or on the high street.


Yep will be about 5 years from now but its coming. Once the whole country has decent download speeds it will launch properly.

Its the way to go i feel... as long as its fairly priced.
#25
What Grace???..... Their Back to the future bluray once costed £39.99 while Best buy selling it for £19.99. Where did you think i got mine from??.......:p
And don't talk about HMV PS3 games prices, that needs another thread!!!!.....
#26
Starr
greg_68

In the next few years it won't matter as games, dvd's and all other media will be streamed to your media devices negating any need for shops be it online or on the high street.


Yep will be about 5 years from now but its coming. Once the whole country has decent download speeds it will launch properly.

Its the way to go i feel... as long as its fairly priced.


I can't see physical media disappearing though. The re-sale value through trade-ins / selling on eBay etc is a huge part of the process for the consumer. You only need to look at the success and growth it's had since Future Zone introduced "Played It? Trade It?" in the 90s.

Edited By: midlandscomics on Jan 05, 2011 12:33
banned#27
in 5 years time all entertainment will be piped directly into our brains.
banned#28
To save themselves they need to merge stores with Waterstones. They need to then use the overhead savings to bring prices inline with web ones. They need to make more of a point of the stores being coffee houses (Waterstones near me have a Costa coffee inside). Install PCs or even better, touch screen tables (MS surface) to browse their online store and sample music/watch trailers etc as well as have docking stations (as mentioned) to download music to. It needs to be more an experience to get people in there.
#29
greg_68

In the next few years it won't matter as games, dvd's and all other media will be streamed to your media devices negating any need for shops be it online or on the high street.


I guess it depends on "your" definition of the "next few years".

All games won't be streamed to any of the current consoles, and even if this does happen, it won't be in my definition of "the next few years".
banned#30
I was in town last week for the first time in ages and noticed we now have an HMV. Been open a couple of months apparently. Guess I missed all their advertising. :p

It should do OK as it's across from Game, which is always busy for some reason. Must be too many folk round here who like paying over the odds.
suspended#31
midlandscomics
Starr
greg_68

In the next few years it won't matter as games, dvd's and all other media will be streamed to your media devices negating any need for shops be it online or on the high street.


Yep will be about 5 years from now but its coming. Once the whole country has decent download speeds it will launch properly.

Its the way to go i feel... as long as its fairly priced.


I can't see physical media disappearing though. The re-sale value through trade-ins / selling on eBay etc is a huge part of the process for the consumer. You only need to look at the success and growth it's had since Future Zone introduced "Played It? Trade It?" in the 90s.


You have to bare in mind that the game companies dont want us to sell our games on ebay or trade them in.

It would be dreadful to not have that option though, i've only ever once bought a full game though my xbox as i dont like not being able to sell it on.

master_chief
To save themselves they need to merge stores with Waterstones. They need to then use the overhead savings to bring prices inline with web ones. They need to make more of a point of the stores being coffee houses (Waterstones near me have a Costa coffee inside). Install PCs or even better, touch screen tables (MS surface) to browse their online store and sample music/watch trailers etc as well as have docking stations (as mentioned) to download music to. It needs to be more an experience to get people in there.


Nice ideas there.
#32
Ungreat
HMV charge to much and the website is run separate from the shops so you can't check stock or compare prices.

£25 for a blu-ray that costs £14 online, wonder why they are having issues?


exactly ! Wife bought me Inception (SD) for xmas HMV store manchester, wait for it... £16.99 !!! We took it back yesterday and bought the Blue Ray version from Morrisons 13 99
#33
Starr
greg_68
All high street shops of this kind will close eventually due to the online world. All the game shops can't be far away either. Then your high street will be one giant poundland.


GAME will be along shortly.

Cant remember the last time i bought instore or online with them.

At the moment they still have loyal customers who dont know better, but once they realise it takes 2 mins to do an online search and find it for 50% cheaper they will decline further.


Game is like VB1 said a horrible place, Don't wanna see anyone out of work but I hate that place with a passion. They have a Kinect +sports online for £130 instore the kinect (no sports) for £133 (vat increased) and won't match their own online prices (they are ran as 2 seperate companies). I used to like EB for my gaming needs when I was younger.
#34
Starr


You have to bare in mind that the game companies dont want us to sell our games on ebay or trade them in.


They can then develop games for the PSP Go.
#35
It would be ironic if HMV stores went down the pan but their Fopp stores kept trading.
suspended#36
Paddy_o_furniture
Starr
greg_68
All high street shops of this kind will close eventually due to the online world. All the game shops can't be far away either. Then your high street will be one giant poundland.


GAME will be along shortly.

Cant remember the last time i bought instore or online with them.

At the moment they still have loyal customers who dont know better, but once they realise it takes 2 mins to do an online search and find it for 50% cheaper they will decline further.


Game is like VB1 said a horrible place, Don't wanna see anyone out of work but I hate that place with a passion. They have a Kinect +sports online for £130 instore the kinect (no sports) for £133 (vat increased) and won't match their own online prices (they are ran as 2 seperate companies). I used to like EB for my gaming needs when I was younger.


Ahhhh Electronic Boutique, where my love for games started.

thesaint
Starr


You have to bare in mind that the game companies dont want us to sell our games on ebay or trade them in.


They can then develop games for the PSP Go.


Is that thing still going?
#37
When can we expect a closing down sale? Will there be any? Which stores are closing? ;-) :p

Edited By: nomeames on Jan 05, 2011 14:08
#38
1. They charge too much
2. Supermarkets are being increasingly competitive in their pricing for new releases which never used to happen before
3. Online retailers and their prices are taking any remaining customers

Just as a recent example, when Toy Story 3 was released on DVD Asda were selling it for £7 or £8. HMV in-store was £13.99. That’s a DVD mind you, not a Blu-ray price. The Blu-ray price was an astonishing £24.99. Asda’s Blu-ray price was £17.91 I think.

Some solutions could be to price match local competitors, not necessarily undercut them, but at least it brings business their way. A click and collect service I think would work wonders for them.
#39
HMV are far too expensive, that's the long and short of it. The thing is they don't even have reach price parity with Internet retailers to be more competitive/successful, they just need to be almost there. Most folks wouldn't flinch at an extra quid or so to have something there and then, and it'd help if you could buy at HMV in-store for the same price as HMV online, having the two run separately but with the same branding is lunacy of the highest order.
#40
tbh i think supermarkets selling cds and dvds has had a massive effect on store like hmv, why should i drive for 30 mins, pay parking to get to a hmv when theres a sainsburys 5 miniutes away? and im going to the sainsburys anyway

Edited By: nebno6 on Jan 05, 2011 15:58

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