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Hmv To Close 60 Stores As Sales And Shares Slump


pongo

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I think people have already hit the nail on the head, the consumer market has become a lot wiser to the bargains that are available on the net. On most entertainment items like CD's or console games, you can save at least 30% for internet sites and this includes p&p.

 

It might be quicker to go to HMV, but if you are looking after the pennies, then most people are prepared to wait a couple of days longer if this means saving a decent chunk of money.

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Is there an HMV in Douglas and is it also closing? I can't afford to travel into Douglas much these days so I'm out of touch with developments.

 

They've said it's mostly stores that are near to other big branches, so hopefully ours will be ok.

 

I think HMV have done quite well to diversify, they've added books and board games in waterstones, and hifi systems, ipods and ipads to their HMV stores and have also added used games trading, but the high street market is shrinking. Like Pogo said, they're getting squeezed by digital delivery, amazon must be caning them both for music downloads and for kindle book sales, itunes has been nicking market share for ages and services like Lovefilm are growing for movies. On top of that Supermarkets are now selling pretty much all their product lines very cheap.

 

Hard to see how they can become anything but a niche provider if they stick to physical media, they seem to have missed the boat online.

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As a comparison, if you compare HMV Dublin with Tower Records Dublin, Tower have been doing the electronics bit for ages where HMV are just catching on. Tower's range is also huge by comparison.

 

Similar to HMV over here, HMV Dublin sells mainly low end ear buds and a couple of nicer head sets. Tower's range is about three times as big with a good selection of nicer head sets. They also sell DJ type stuff. Something HMV should be doing. Tower also often have live music playing in the shop, another thing that gets people through the door.

 

Both shops appear to be busy on a Saturday afternoon. The big difference is that there never seems to be much of a queue at HMV, but Tower you always have to queue. In other words more people are buying in Tower than HMV.

 

Buying physical things over teh internet is ok if you know what you are getting. And yes, you can save some money. Lots of people go to shops to look then buy from the internet in order to save a few pounds. Well, when these shops disappear it will be your fault. And then guess who's prices will rise?

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I can't say I'm surprised at this news at all what with the discounts available online from Amazon, Play etc, it must be hard to compete with that.

 

I quite like HMV and I've bought a fair few games, and a Wii console(very good deal btw!) in there in the past year but in terms of their other products, I'm afraid they are just too expensive to buy from HMV. I buy a loy of Bluray discs and they are £20-30 in HMV whereas I can get the same ones from Play.com for £10-15, sometimes less. I get all of my music digitally and haven't bought an actual CD for years, I can't imagaine who is still buying them to be honest!

 

It's a shame but as some previous posters have said, sadly inevetible.

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