There’s life in the old dog yet – Nipper that is, the HMV pooch.
HMV also replaced Tesco as the number two by sales of physical entertainment generally, according to the latest Kantar Worldpanel data, after winning 41,000 new shoppers to deliver a market share three points higher, at 15.4% over 12 weeks.
Sceptics would point out that Amazon is growing in digital entertainment services such as streaming.
True, but that does not diminish HMV’s achievement in the category in which it has chosen fundamentally to compete.
Who knows how long consumers will still want to buy physical products, but HMV has done well under Hilco’s ownership to carve out a market for itself.
After all, it was only three-and-a-half years ago it went belly-up under its former ownership.
But, like Craig David, it’s made a comeback.
The challenge will be to maintain its position as top of the pops as consumption habits continue to shift.
Quote of the day
“People make strategy happen, it’s not the PowerPoint presentation.” – FA chief executive Martin Glenn, speaking to Retail Week
Today in numbers
£55m – Lidl’s investment in its new Southampton warehouse.
1.7% – Like-for-like sales fall at Conviviality’s retail business in the first half.
Fashion giant Next updates on third-quarter trading. Its bellwether status is likely to influence City sentiment towards apparel retailers generally.
George MacDonald, executive editor