Administrators are said to be confident it will be saved from liquidation but in order to save the business, it needs to move with the times.
Its trademark dog and gramophone image taken from the 1898 oil painting, His Master’s Voice, which features Nipper the dog listening to a gramophone, is one of the first things which springs to mind when I think of HMV. Its demise may cost 4,000 jobs and make it the second household name on the British high street to go into administration in the first three weeks of the year.
Founded in 1921, HMV has been one of the most recognisable brands on the High Street. It is the last remaining music retailer on the High Street. It has 230 stores in UK and Ireland as well as 9 shops formerly under the Fopp brand.
Many say administration has been on the horizon for a number of years after failing to keep up with the shift towards online sales and digital downloads.
I like shopping online. I like having a browse while at home warm and dry. A person could spend the best part of an hour hunting through the many shelves and stands looking for the Blu-ray or CD they’re hunting for. On-line, this would have take seconds and be delivered to your door. High street media retailers are at a huge disadvantage in comparison to online sellers. There is no innate value in buying from a particular seller. There are no own brands that may be of a certain quality or performance. You buy the same thing wherever it comes from. That means that the only factor is price and online sellers do not have the overheads of high street stores.
In a way, I feel partly responsible for its demise. I’ve been in there many times on the verge of buying a DVD but I always end up thinking ‘nah, it’s cheaper online’, and it is.
Administrators are said to be confident it will be saved from liquidation but in order to save the business it needs to move with the times.
Watch this space…….
Author: Kelly Burton