High street brand HMV goes into administration
I must say, I am really sad to hear about entertainment retail chain HMV going into administration. We all knew that the demise of HMV was inevitable as they struggled to keep up with digital, a platform that is used globally and becoming increasingly used by more people.
Their competitors, Amazon and iTunes managed to do all of the things that HMV weren’t doing which is why the business eventually failed. Physical CD’s, DVD’s and Games were readily available through Amazon online, and although HMV eventually built an online platform, Amazon was too well established for people to consider HMV as an evoked brand to purchase entertainment products online. Another factor is the increase in digital downloads especially in music. HMV failed to take this opportunity on while it was fresh and instead itunes lead the market, ensuring that all ipod/iphone/ipad and itunes users were sure to get their music straight from them and onto their devices.
Personally, I really enjoyed going to HMV to purchase physical CD’s. Although the internet is convenient and most people would definitely agree, I think that sometimes there is a sentimental value in seeing/feeling a product, purchasing and having it in your hand straight away. I really hope that physical CD’s don’t disappear because I love them, and in my opinion we are all relying too heavily on “virtual”. I understand that this is where technology and marketing is heading but to live a life where everything is done through a screen makes me feel sad, and wonder why as consumers we don’t feel like we should physically see our product before we buy.
I’ve been told that supermarkets will have the same effect in the next few years, more online shopping and less walking around Tesco. Honestly, I like pushing my trolley around, getting enticed by chocolate and wine (e.g. buying things I don’t need) and feeling like I did something with my day. Maybe I’m just traditional (I’m only 19!!!).