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Tag: Electronics retailer

  • Retailers to Sell One-Third of Tablets This Year

    Retailers to Sell One-Third of Tablets This Year

    Tablets are now the hottest growth commodity in the tech industry. A recent Gartner report even showed that tablet growth is largely helping to offset the decline of the PC industry and pushing continued IT growth in 2013. Now it appears that electronics retailers, which have been struggling to keep up with the changing marketplace, might have a place in tablet sales channels.

    Market research firm Strategy Analytics today revealed its prediction that specialist electronics retailers will make up 35% of global tablet shipments this year. That’s more than any other sales channel, including direct manufacturer sales. The firm attributes this statistic to consumer buying habits, specifically customers comparison shopping between the growing variety of tablets on the market.

    “While the channel composition is complex, providing consumers with many ways to buy, consumers are clearly happy to buy Tablets from outlets where they can hold, touch and play with the devices”, said Matt Wilkins, Director of Tablets and Wearable Devices for Strategy Analytics. Wilkins went on to say that “…it is particularly important for first-time buyers to see the devices in the flesh, with competing models and price-points side-by-side.”

    Although electronics retailers will have a place in tablet sales channels they are also subject to “showrooming,” where customers shop at a physical retailer and then order from another retailer online. In addition, Strategy Analytics points out that online sales are more convenient in emerging markets such as China and Brazil, where retailers may not have a large physical infrastructure. The largest growth in the tablet market in the coming years is predicted to be from low-cost devices in those emerging markets.

  • HMV to Close Even More Stores, Lay Off 464 More Employees

    U.K. Electronics retailer HMV is set to close 37 more stores and lay off 464 more employees. This is in addition to the 66 store closures and 930 employee lay offs that were announced earlier this month.

    No date has been set for the store closures, but individual stores will be closing in the next four to six weeks. Adding in the other closures, HMV will be left with just over 100 stores in the U.K. The individual stores to be closed have been announced:

    Ashford, Basildon, Bolton, Cheltenham, East Kilbride, Enfield, Folkestone, Glasgow Argyle, Gloucester, Grimsby, Hatfield Galleria, Heathrow T5 Departure Level, Heathrow Terminal 1, Heathrow Terminal 3, Heathrow Terminal 4, Hemel Hempstead, High Wycombe, Isle of Wight, Lancaster, Leadenhall, Mansfield, Middlesbrough, Newbury, Newcastle Silverlink, Newport, Nuneaton, Redditch, Salisbury, Scarborough, Southport, Stafford, Staines, Stockport, Swindon, Taunton, Torquay, Woking.

    Word of the extra closures comes via Deloitte, which was chosen to administrate HMV in Jaunary after the company failed to come to terms with its creditors. Administrators appointed by Deloitte are currently restructuring the retailer for a possible sale.

    “As part of our ongoing review of HMV’s financial position, we have undertaken a further review of the store portfolio and have identified an additional 37 stores for closure,” said Nick Edwards, joint administrator of HMV. “This step has been taken in order to enhance the prospects of the restructured business continuing as a going concern. Together with the previously identified 66 closures, this restructuring will result in a residual portfolio of some 116 stores.

    “We are extremely grateful to the staff for their continued strong support and commitment during an understandably difficult period. All other key stakeholders including suppliers and landlords remain supportive and we appreciate their ongoing assistance.”

  • HMV to Close 66 Stores, Lay Off Over 900 Employees

    Last month, U.K. electronics retailer HMV entered administration. Employees and customers were left wondering whether the business would be shutting down.

    Today, Deloitte, the firm hired to oversee HMV’s administration, announced that 66 HMV stores will be closing throughout the U.K. These stores collectively have 930 employees, and no plans to relocate them were revealed. HMV currently has 220 stores in the U.K.

    This step has been taken in order to enhance the prospects of securing the business’ future as a going concern,” said Nick Edwards, joint administrator of HMV. “We continue to receive strong support from staff and are extremely grateful to them for their commitment during an understandably difficult period. All other key stakeholders remain very supportive and I continue to be hopeful of securing a future for the restructured business.”

    No date has been set for the closure of the stores, but they are expected to shut down sometime in the next two months. Below is the list of stores that will be closing. Consumers near these stores would be well-served to keep an eye on them to watch for closeout sales.

    Ashton-under-Lyne, Ballymena, Barnsley, Bayswater, Belfast Boucher Road, Belfast Forestside, Bexleyheath, Birkenhead, Birmingham Fort, Blackburn, Boston, Bournemouth Castlepoint, Bracknell, Burton-upon-Trent, Camberley, Chesterfield, Coleraine, Craigavon, Croydon Centrale, Derry, Dumfries, Durham, Edinburgh Fort, Edinburgh Gyle Centre, Edinburgh Ocean, Edinburgh Princes Street, Edinburgh St James, Falkirk, Fulham, Glasgow – Fort, Glasgow – Silverburn, Glasgow Braehead, Huddersfield, Kirkcaldy, Leamington Spa, Leeds White Rose, Lisburn, Loughborough, Luton, Manchester 90, Moorgate, Newry, Newtonabbey, Orpington, Rochdale, Scunthorpe, South Shields, Speke Park, St Albans, St Helens, Stockton-on-Tees, Tamworth, Teesside, Telford, Trocadero, Wakefield, Walsall, Walton-on-Thames, Wandsworth, Warrington, Watford, Wellingborough, Wigan, Wood Green, Workington, Wrexham.

  • Blockbuster U.K. Enters Administration

    Blockbuster U.K. Enters Administration

    Coming just one day after U.K. electronics retailer HMV announced it would seek administration, auditing firm Deloitte has announced that it has been commissioned to administrate Blockbuster U.K. Deloitte was also mentioned as a possible administrator for HMV.

    Deloitte claims that Blockbuster U.K.’s “core” business is still solid. A buyer for the company’s 528 stores across the U.K. will be sought. Blockbuster U.K. currently employs 4190 people.

    Unlike HMV, which suspended trading of its stock on the London Stock Exchange, Blockbuster stock will continue to trade normally. Deloitte also made a point to assure customers that all gift cards will be honored.

    “In recent years Blockbuster has faced increased competition from internet-based providers along with the shift to digital streaming of movies and games,” said Lee Manning, a Deloitte partner and one of the people assigned to jointly administer Blockbuster U.K. “We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.”

    Blockbuster U.K. is just another in a line of British retailers of physical media to run into financial trouble. In addition to HMV, GameStop closed its stores in the U.K. last year and Game Group entered administration in March of last year. These failures are almost certainly a sign of things to come in the U.S. and the rest of the world, as media consumption shifts from physical discs to downloadable and streaming options.

  • HMV Closing? Electronics Retailer Enters Administration

    HMV Closing? Electronics Retailer Enters Administration

    HMV, the British entertainment retailer, has announced that its discussions with creditors have come to an end and the company will enter administration. Trading of HMV stock has been suspended on the London Stock Exchange. Deloitte partners Nick, Edwards, Neville Kahn, and Rob Harding have been name-dropped as posible administrators of the company and some of its subsidiaries.

    HMV has released an official statement regarding the key events:

    On 13 December 2012, the Company announced that as a result of current market trading conditions, the Company faced material uncertainties and that it was probable that the Group would not comply with its banking covenants at the end of January 2013. The Company also stated that it was in discussions with its banks.

    Since that date, the Company has continued the discussions with its banks and other key stakeholders to remedy the imminent covenant breach. However, the Board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection, and in the circumstances therefore intends to file notice to appoint administrators to the Company and certain of its subsidiaries with immediate effect.

    The Directors of the Company understand that it is the intention of the administrators, once appointed, to continue to trade whilst they seek a purchaser for the business.

    It is proposed that Nick Edwards, Neville Kahn and Rob Harding, partners of Deloitte LLP, will be appointed as the administrators of the Company and certain of its subsidiaries.

    The Company’s ordinary shares will be suspended from trading on the London Stock Exchange with immediate effect.

    The situation is similar to that faced by Game Group in March of last year. Game entered administration and closed hundreds of stores throughout the U.K.

    Physical retailers of electronics goods, such as Best Buy, have been seeing declining sales in the face of the growing internet retailers and streaming video services. There are also rumors that entertainment companies will be increasing the pressure on the market for used physical media using digital rights management (DRM) and other tactics.

  • Best Buy Return Policy Will Extend To 30 Days

    Currently Best Buy gives purchasers 14 days to return desktops and notebook computers, tablets, monitors, projectors, camcorders, digital cameras, radar detectors, DJ equipment and lighting, pro audio and home recording equipment. Everything else they carry has a 30 day return policy. Well news has leaked out that this policy is going to change in the very near future to a 30 day blanket policy that will cover all merchandise.

    Why is this interesting aside from the significant convenience factor? For Apple fans and potential buyers of the new iPad 3 it means a 16 day extension on the manufacturers return policy. The Best Buy return policy will extent to 30 days. One thing I would question as a consumer however; do the manufacturers terms supersede the store policy? That can happen and Apple could limit Best Buys ability to extend their policy to 30 days.

    Here’s what I found today when I searched Best Buy for their return policy:

    Return & Exchange Policy

    Original Receipt

    The original receipt, gift receipt or packing slip is required for all returns and exchanges. If returning or exchanging an item in a Best Buy store, a valid photo ID is also required.

    Return & Exchange Period
    14 days for desktop and notebook computers, tablets, monitors, projectors, camcorders, digital cameras, radar detectors, DJ equipment and lighting, pro audio and home recording equipment
    30 days for all other products
    45 days for all products for Reward Zone® Program Premier Silver members

    Best Buy reserves the right to deny any return or exchange.

    Non-Returnable Items

    Some items cannot be returned, including:

    * Labor, delivery and/or completed Geek Squad® installation services
    * Some pre-paid cards, digital subscriptions or services
    * Digital content (e.g., game and movie downloads)
    * Microphones, earbuds, harmonicas and other similar products
    * Consumable items such as food, drinks and batteries
    * Items that are damaged or abused
    * Items that are missing accessories such as remote controls, cords and cables
    * Etched or otherwise personalized items
    * Opened computer software, movies, music and video games can be exchanged for the identical item but cannot be returned for a refund

    Marketplace Items

    Marketplace items cannot be returned to Best Buy. They must be returned to the Marketplace Seller.

    Returns In Store

    Avoid shipping charges and receive a refund more quickly by returning your items to any Best Buy store within the United States.

    Include all original packing materials, manuals and accessories
    Bring your receipt or packing slip and a valid photo ID. We accept these forms of identification:

    * US, Canadian or Mexican driver’s license
    * US state-issued ID
    * Canadian province-issued ID
    * US military-issued ID
    * Passport

    I think we should take note that becoming a premium rewards silver member will extend your return on all items to 45 days. That’s two extra weeks to decide if the product is right for you. I would say this benefit alone is worth a membership and I am sure there must be addition benefits.

    Anyhow, there it is: Best Buy return policy will extend to 30 days. So if you’re a Best Buy shopper or considering a large electronic purchase, I would check them out. This return policy could prove to be a valuable feature.