Another one goes bust - Jessop's

[inkey$]

Truth is its all of our fault. Casual photographers use their smartphones and/or Pixmania bought ultra-compacts, while more professional users go via online specialists to get the best deal they can on the latest soup bowl sized lens-a-ramas.

Replace the words 'camera' and 'tripod' with 'CD' and 'DVD' and replace retailer name with HMV.

My thoughts are with the workers caught up in it all and not the management that failed to act years ago when this all first started to evolve.

 

[tomscott]

I dont know its a story that is abundant in our high street. The internet will take all of them until all we are left with is charity shops, pubs and supermarkets. The high street will be ghostly.

 

[inkey$]

I dont know its a story that is abundant in our high street. The internet will take all of them until all we are left with is charity shops, pubs and supermarkets. The high street will be ghostly.

Its not a great story is it. And add Estate Agents and Poundshops to that list.

There is a theory that recessions are a process which weeds out the weak, leaving behind stronger more focused business environment. But try telling that to those people made redundant.

 

[Stark]

Not even sure that Pubs will be around, they are closing at learning rates....only shops doing well are Poundland, Greggs and Betting shops...

On Betting shops, I would love to see them governed to reduce the amount you can have on the high street. Where I work, there are 3 Shops, of the same brand, within 3 mins walk of each other, and 8 in total within a few mins of each other....

 

[Lillywhite]

The old adage of 'use it or lose it' is never truer.

 

[marchantsuk]

I dont know its a story that is abundant in our high street. The internet will take all of them until all we are left with is charity shops, pubs and supermarkets. The high street will be ghostly.

I agree, but only in the short term, within 10 years there will be move back to the high street for fresh food. Everything you need as staple goods will be bought on line and delivered, but fresh ingredients meat, fruit etc will be bought on demand for use same day or following. This will drive people back to their local high st.
Unfortunately price will keep on line retailers ahead of high street for most luxury goods.

 

[original guvnor]

I think the High Street will be fine. What a recession does is sort out the weak ones with the most fragile finances and poorest business plans.

Those retailers who have a strong on line presence as well (ie John Lewis, Next) where the price you pay in store is the same as online and is competitive as anywhere else online will do fine.

In the meantime while some of these weaker offers are falling by the wayside they will be replaced by new independent retailers. Landlords though need to be realistic on rent. I'm afraid many commercial portfolios with retail units in anything other than cities will be taking a bath on capital values in the next decade or so.

 

[tomscott]

Well I hope so,the shop my family owns is one of the oldest family run businesses in the UK but sell more specialist goods. They have had one for the best years this decade which is strange in comparison to everything else thats going on.

Its sad about the high street, I am one of these people that enjoys going to look at the products I buy, then buy them from a shop not the internet. Apart from camera gear but I view that as more specialist and if buying new you dont necessarily have to view to buy which is probably Jessops problem. But all my Christmas shopping was done from a shop. Especially with my recent troubles with ebay I think I will continue to use shops rather than the internet.

The high street is killing itself tho, very little difference in product and it doesn't matter where you go you get the same shops. Used to be fun going to the different cities and going in shops that aren't where you are, now they are everywhere and I suppose they are paying the penalty.

The only benefit I have seen is that more specialist shops are starting to pop up, which is great! All these conglomerates selling everything and being a specialist in nothing. Specialism is invaluable IMO something that is certainly lacking, staff aren't motivated, most service is useless.

I actually bought a lot of my kit from Jessops until the start of the recession and for some reason Camera Kit went up around 25-30%. But I usually went because they would price match with other internet sites, and I knew what I was buying. My experience was that the managers knew what they were doing and were prosumers themselves but the shop floor assistants were useless knowing very little about the industry and performance of the gear and were just interested in selling. Sounds sad but I did go in a few times looking for a purchase and quizzing about the products and after the wealth of BS walking out feeling like they had no idea! (similar to the big bang theory where they go and take the piss out of the apple geniuses, seen that? brilliant)

On the other side of the coin I have found The London Camera Exchange and Calumet are by far the best places to go and all the staff are photographers and know the inns and outs of every product. The only problem being you pay an absolute premium for it, so most of the products are at RRP instead of where the high street would place them so £2-500 more. But you get a fantastic back up service, and give pro level cover so if your kit goes breaks they will sort it and turn around is very fast. But at the same time the initial saving is probably enough to cover you to get insurance etc so.... Its a tough one, Specifically electronics are much more expensive here than they are in say Switzerland, US, China etc and were talking 30-50% more. Most companies blame the government, its the same with Apple products, just really annoying.

 

[Mowflow]

The recession is not killing these companies. Technology is.

I also expect technology to kill HMV, Waterstons and Yell (which i believe they have tried to rebrand HIBU) in the not too distant future.

 

[original guvnor]

The recession is not killing these companies. Technology is.

Truth is, it's a bit of both. Recessionary times have a habit of making consumers focus in on price/value more than perhaps would if they weren't feeling the squeeze. Some of these companies were just too slow to react to the online threat and by the time they did the damage was already done.

Ask yourself this - if people buying electrical goods has moved to online (Jessops and Comet would suggest it had) how come John Lewis were 40% up in home electronics this Christmas in store? Perhaps their 2 year warranty? Perhaps their unbiased and good quality staff? Possibly the nice environment to browse/shop or perhaps a combination of these factors which their competitors continue to overlook.

 

[bladeowner]

I bloody hope the warrenty is with the manufacturer because im in the same boat having just bought a Nikon D7000 from them just before Christmas

Register your Nikon online within 30 days for a 2 year warranty

http://www.europe-nikon.com/en_GB/service_support/Support_2_Warranty.page

 

[Breaker]

Info on vouchers:

http://www.moneysavingexpert.com/news/shopping/2013/01/jessops-close-to-administration-so-use-gift-cards-now

 

[Breaker]

There are continuing rumors that HMV could be next!

 

[Mowflow]

The recession is not killing these companies. Technology is.

Truth is, it's a bit of both. Recessionary times have a habit of making consumers focus in on price/value more than perhaps would if they weren't feeling the squeeze. Some of these companies were just too slow to react to the online threat and by the time they did the damage was already done.

Ask yourself this - if people buying electrical goods has moved to online (Jessops and Comet would suggest it had) how come John Lewis were 40% up in home electronics this Christmas in store? Perhaps their 2 year warranty? Perhaps their unbiased and good quality staff? Possibly the nice environment to browse/shop or perhaps a combination of these factors which their competitors continue to overlook.

I think it's a bit of both with some retailers but more so technology for Jessops. It's not a case of them failing to implement an effective ecommerce strategy quickly enough. A large number of potential customers were lost the minute every mobile phone manufacturer added a perfectly acceptable (to most) camera to the back of their device. The business model of maintaining high street store fronts purely to sell products with a relatively high replacement life to a relatively small professional and enthusiast market simply does not work. It always had to be supported by the potential to sell large quantities of consumables and cheaper products albeit at a lower mark up to Joe public. That market disappeared with advances in technology.

I don't think people buying electrical goods has moved to online, not completely. Your John Lewis example proves it perfectly. I think the biggest effect that online has had to consumer behaviour in this area and many others is that it has made us more demanding. We want more competitive pricing, better service, support etc. John Lewis prove this by providing this and always doing well.

 

[tomscott]

http://www.amateurphotographer.co.uk/photo-news/539405/canon-and-nikon-on-jessops-failure

 

[bladeowner]

The recession is not killing these companies. Technology is.

Truth is, it's a bit of both. Recessionary times have a habit of making consumers focus in on price/value more than perhaps would if they weren't feeling the squeeze. Some of these companies were just too slow to react to the online threat and by the time they did the damage was already done.

Ask yourself this - if people buying electrical goods has moved to online (Jessops and Comet would suggest it had) how come John Lewis were 40% up in home electronics this Christmas in store? Perhaps their 2 year warranty? Perhaps their unbiased and good quality staff? Possibly the nice environment to browse/shop or perhaps a combination of these factors which their competitors continue to overlook.

I think it's a bit of both with some retailers but more so technology for Jessops. It's not a case of them failing to implement an effective ecommerce strategy quickly enough. A large number of potential customers were lost the minute every mobile phone manufacturer added a perfectly acceptable (to most) camera to the back of their device. The business model of maintaining high street store fronts purely to sell products with a relatively high replacement life to a relatively small professional and enthusiast market simply does not work. It always had to be supported by the potential to sell large quantities of consumables and cheaper products albeit at a lower mark up to Joe public. That market disappeared with advances in technology.

I don't think people buying electrical goods has moved to online, not completely. Your John Lewis example proves it perfectly. I think the biggest effect that online has had to consumer behaviour in this area and many others is that it has made us more demanding. We want more competitive pricing, better service, support etc. John Lewis prove this by providing this and always doing well.

These type of technology outlets have just become browsing outlets for people planning to buy on line. I remember Comet stores when they first opened, they offered electrical goods at the most competitive prices but ultimately they couldn't compete with box shifting internet warehouses.
Last year Argos announced they would be moving to online predominately and closing stores in a change of strategy. They will have to survive and remain competitive.

I think where John Lewis wins is their staff product knowledge, customer service and training. Many technology consumers are very knowledgeable about their intended purchases. Product reviews and information abound on the net. So having some spotty youth b***sh*t you in a store doesn't work anymore. Do your research, buy online is the way people are going. Cheaper price, no b***sh*t, no parking issues.

 

[craig3.2]

Another bites the dust...a pity,and as per my post on hmv thread/not a good thing,as unwemployment increases as the high street shops a;ll continue to fold. sad times :thumbsdown:

 

[ab7]

My understanding is that two major incomes for the company were amateur photographers (who now use their mobile to take photos), and people browsing high end kit who can now get it online at a better price. Again with digital photography the need for developing services has been drastically reduced.