Thats that then

[jantheman]

Just heard that our last HiFi shop, Sevenoaks, in the City of Plymouth is going to close. 250,000+ people and it seems that theres not enough business to keep it open.
Our nearest HiFi retailers now will be about 15 miles away in Tavistock or 40 miles away in Exeter.

[Effem]

Let's face it, when there is a recession in full flight like there is right now, the "luxury" of hi-fi purchases (Or AV too so it seems) comes well down the list in people's priorities. No disposable income, no new toys, it's as simple as that so the dealers are having a very lean time. I saw the writing on the wall over 3 years ago, hence why I ceased trading with Krystal Kables back then and it was a very smart move.

What concerns me is what will still be around when (if) the economy picks up again one day. As far as I can forecast, it will be mostly far eastern manufactured products sold purely on the internet that will rule and the small specialist shops that stock british and european high end won't be around any more, so I would imagine that secondhand values are going to rocket for the current high end marques.

[DSJR]

That was a pleasant little shop I remember, but acres of WTF 5-star product on show doesn't always a successful business make, especially when commission structure only favours makers offering huge profit margins. Sell a few profitable bum-steers and you've lost your customer, instead of bringing him back for yet another upgrade, as used to happen in the good old bad old days with some shops..

[MartinT]

Can't help thinking their product range was just a step up from Richer Sounds. A difficult market sector to survive in at the moment. Me: I'd go way upmarket where there is more stability.

[Tim]

Can't help thinking their product range was just a step up from Richer Sounds. A difficult market sector to survive in at the moment. Me: I'd go way upmarket where there is more stability.
Talking of upmarket, there is a good new dealer just opened near me, in fact a couple of miles away! Really nice guys there too... Jordan Acoustics. I was looking at some Usher's in there Martin and some gorgeous black Chord gear too :drool: too rich for my blood though :(

http://www.jordanacoustics.co.uk/

[MartinT]

Nice website Tim, that's my sort of hi-fi dealer. I don't have a good one anywhere near me - then again, I don't mind travelling on the few occasions that I'm on an upgrade mission.

[Pete The Cat]

A bad week for Plymouth, I recall hearing on the radio that the airport is going to close at the end of the year too.

Pete

[Effem]

A bad week for Plymouth, I recall hearing on the radio that the airport is going to close at the end of the year too.

Pete

The local city football club isn't in too healthy a state either :(

[jantheman]

The airport is closing at the end of the year as they are £1 M in debt. Nobody seems interested in taking it on. The decision seems final.
Plymouth Argyle are in administration, they are in £17 M of debt and theres one potential new owner. He is offering the clubs creditors 0.77p in the £ return on what the club owes them and expects to get a 75% vote in favour. Somehow, I dont think so. The staff havent been payed for months but the players it seems, have been payed from some sort of FA fund.
Personally, I dont think the club will survive so , yes, its been a grizzly start to the new year.
How does the song go...'Things can only get better'..well, they certainly couldnt get any worse.........

[Lodgesound]

I would imagine it's a nightmare now trying to run a high street shop selling luxury sector goods of any kind let alone expensive esoteric luxury goods such as HiFi.

The problem is that if you choose to ignore the whole "pre and after sales" thing very often products can be purchased for huge savings elsewhere - ebay and the internet in general being the main sources here.

Arguments for and against aside I think most people now are far more aware and enabled in terms of getting the best deal that they possibly can - I for one have not purchased a single item of HiFi or AV equipment from a high street retailer in 15 years and simply cannot afford to aquire any equipment of this kind anymore without going either through the "online discount" or the "high level research nearly new second-hand at a hefty discount" methods.

[Neil McCauley]

For me, retailing up-market hi-fi is more of a hobby than a business – albeit a hobby run on business terms. I would caution anyone against entering this business if in so doing they end up with fixed costs i.e. rent, rates and so on.

I've had to adapt to changing, in fact rapidly evolving market forces. A few months back I adopted a new business model to cope with the time-wasters and dreamers who want free advice and then buy from eBay. It has increased my conversion rate to 9 buyers out of every 10 commercial ‘relationships’

Quite simply I no longer offer face-to-face home demonstrations and no longer have a showroom.

Everyone who buys from me pays up front and gets 28 days home trial with no obligation to buy. Full sale or return and no silly restrictions. Utterly transparent. I pay the carriage there and the carriage back. Not once has this service been abused. My turnover is back to where it was 3 years ago, which is most satisfactory for my needs.

Now of course there will always be dissenters. They opine that they resent having to pay to listen to something. Probably means they want something for nothing - such as free entertainment.

My response is simple. First, I’m not a lending library. Secondly, I am entitled to find out if the buyer has the means and the wherewithal to pay. Finally, try getting a 28 days free home trial of a fridge or washing machine from Comet, or books from Amazon or a new Audi from a car dealership or …… the biggest purchase of one’s life – a house – from an estate agent!

[chelsea]

Shame but can't say i'am surprised.
Plymouth is a poor area.
And 7 oaks being surrounded by 5 different type of crack convertors tells it's own story.

[John]

I think the day of traditional HIfi shops is unfortantly limited, its a real shame but with increasing rents tighter profit margins etc its a reality So its a case of keeping costs as low as possible Even in London over the last few years I seen many Hifi shops close

[Alex_UK]

The likes of hifi_dave's is probably the business model that will expand going forward (he operates his business from outbuildings at his home, with auditions by appointment) but you have to be an enthusiast first I reckon to run a hifi business these days - the days of making a fortune (or even turning in a profit) from a traditional "proper" high street hifi shop are long gone I suspect. That said, I'd much rather do business with someone like Dave who is relaxed and genuinely interested rather than a pushy salesman only after his commission...

[chelsea]

Will be a shame as most people wont have a clue what a good system sounds like.
Will be tescos comet and dixons which will be the benchmark for most.

[MartinT]

Will be tescos comet and dixons which will be the benchmark for most.

They already have been for the last twenty years. We enthusiasts are in a tiny minority and most people haven't a clue what good reproduction sounds like. If I even try to describe my passion to work colleagues they think I'm speaking martian (well, that is the derivation of my name), and that's before I attempt to talk about classical music. I don't even try any more, just enjoy what I enjoy.

It's possible that high end hi-fi 'outlets' will survive because they are supplying the converted and there is still money to be made.

[Neil McCauley]

It's possible that high end hi-fi 'outlets' will survive because they are supplying the converted and there is still money to be made.

Indeed. However that market sector is quite literally dying out and there is no significant migration upwards from the MP3-is-good-enough generation to replace that attrition.

The good times will last for a while. And then one by one, like it must have happened with those people making and selling Slide Rules, it’ll be gone. Who can truly resist against the might of market forces?

[Barry]

Indeed. However that market sector is quite literally dying out and there is no significant migration upwards from the MP3-is-good-enough generation to replace that attrition.

The good times will last for a while. And then one by one, like it must have happened with those people making and selling Slide Rules, it’ll be gone. Who can truly resist against the might of market forces?

I've still got mine - wouldn't trust any calculations that weren't analogue! :lol:

[chelsea]

They already have been for the last twenty years. We enthusiasts are in a tiny minority and most people haven't a clue what good reproduction sounds like. If I even try to describe my passion to work colleagues they think I'm speaking martian (well, that is the derivation of my name), and that's before I attempt to talk about classical music. I don't even try any more, just enjoy what I enjoy.

It's possible that high end hi-fi 'outlets' will survive because they are supplying the converted and there is still money to be made.

Of course but in the 70's and 80's a fair few high streets had good quality hi fi shops where the passing trade could at least see a good quality system.

Sure most of us spent many hours looking and wishing we could afford certain products.

My neice who is 22 hadn't seen an lp until 2 years ago.:doh:
Not that it matters for most but i find it a bit sad.

[Yoga]

Talking of upmarket, there is a good new dealer just opened near me, in fact a couple of miles away! Really nice guys there too... Jordan Acoustics. I was looking at some Usher's in there Martin and some gorgeous black Chord gear too :drool: too rich for my blood though :(

http://www.jordanacoustics.co.uk/

Really...?

Law of diminishing returns must be at it's peak here - £5K for a cable? :doh:

[MartinT]

There are a lot of good offerings on their site. No need to focus on the price of a cable. I wish them luck.

[Yoga]

There are a lot of good offerings on their site. No need to focus on the price of a cable. I wish them luck.

Of course, I wish the best of luck to anyone/everyone on their endeavours. The shop is irrelevant, it's purely the price of the cable that got my attention :¬)