UK music store HMV are living in the past, it’s official.
Spearheaded by CEO Simon Fox, HMV have a 3 year plan to save itself as a viable business – with computer games being the saviour.
Speaking about their plans, Fox said “Games are already a vital component of our overall product mix, but will continue to play an increasingly important role in our business going forward. Games are likely to be a key feature of our ‘store of the future’ concept, which we hope to start trialling within a few months.”
So is moving away from the nearly dead store-based music sales market to a market which is fast turning towards a digital download format a great move?
In the short term they have some well established competitors in the games market to fend off and in the long-term – well there is no long-term highstreet prospects for gaming.
So what can they do? Like everybody else in retail they must find their niche. For many years most older members of the music listening population have been a little frightened of going into stores like HMV, with the opinion that they’d feel out of place with all the young ‘uns. Well guess what HMV, these people could now be your new market!
Many music listeners want fast access to their music and are downloading their tracks from online stores and the like but the technophobe crowd, people who don’t want the new technology still need to buy their music from somewhere.
Make your shops more appealing to this market, redecorate, re-brand, employ less spotty people and more music connoisseurs.
Maybe this isn’t your niche HMV, but it is a niche and a niche that has needs.