HMV announced on 28 December, 2018 that they were appointing KPMG as administrators, following “a “tsunami” of retail challenges, including business rate levels and the move to digital”, according to Hilco, the restructuring group who rescued the retailer in 2013.
This is sad news for the retail sector, and for music-lovers who remember the age of dominance of HMV and Virgin Megastores (who at the time were challenging HMV as the ‘traditional giant’).
Hilco mention a ‘tsunami’ and I think that this is the key point. No one factor killed off HMV – not digital downloads, not rates, not changes in consumption and the music industry… Rather, these factors have all been accelerating and working in unison.
This is the inflexion point where a slope turns into a cliff.
I was invited to comment on the news both on Sky News and on LBC that evening and my clips are below.
Provided you didn’t blink in the wrong place you may have caught my contribution to a BBC documentary on how John Lewis prepares for Christmas. I had great fun contributing to a topic that we’ve covered ourselves – namely how the elite retailers prepare for peak. An interesting take within the programme was that #BlackFriday had changed the ‘traditional’ Christmas peak, and further looked at the role of eCommerce ‘pure play’ giant Amazon.co.uk in the competitive landscape for John Lewis.
I was really impressed with the research the team did beforehand. We had a number of phone discussions, follow-up questions and a good brief on the ‘arc’ of the show. I had a great time filming my snippets and even though it was a couple of hours the time passed really quickly. I’m sure that TV production crews forget how interesting we find the whole process! Most of the filming I do is around our events and these tend to be one-take-only commentaries. At first I thought that it was a luxury to have more time, but now I simply feel a combination of awe and sympathy at the skill and patience needed to turn hundreds of hours of footage into a coherent, brief broadcast!
My on-screen contribution comprised of a review of the customer expectations on delivery (c 0h24’) and upon the role of SEO in supporting visibility and sales at peak (c0h30’).
We’ve covered John Lewis extensively on InternetRetailing – they’re one of our “Elite” UK retailers in the InternetRetailing Top500. You can see John Lewis’ company listing as well as information on the Top500 on our site.