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THE LAST WORD INMI PRO CRAIG FENNEY, MD, THE MUSIC SHIPPING CO.
Making small changes can turn a retailer’s disadvantages into advantages…
etail has changed, so let’s get some of the clichés out of the way first. It’s the internet, it’s the world recession, it’s the ‘discounters’, it’s the Olympics it’s the rainy weather, it’s the sunny weather.
R
The truth is it’s all of these things and more; the harsh reality is that one of these major factors, the current economic climate, is going to continue to influence consumers for some time yet. So for retail there will be survivors and regrettably, there will be more casualties. So what should you do as a retailer?
The first step is to identify if your business is an endangered species. If it is; what is your biggest threat? What can you do? What are you going to do? A couple of facts that you may find of interest: It was recognised in America that when a certain chain music store decided to open a branch in a town, it heralded the death knell for the town’s existing music stores.
This did happen to some stores, but
not to all. Some smart-thinking independent retailers actually closed their existing shops, but only in order to relocate closer to the new competitor. This gave them access to the footfall from the major store, and with carefully chosen stock items and good customer service, they still have strong businesses.
The international monthly magazine for music instrument professional and everyone in the MI business
MI Pro has a monthly circulation of well over 6,000. It is distributed in the UK and internationally to MI retailers, industry professionals and carefully selected pro audio executives and resellers.
Editor Ronnie Dungan
ronnie.dungan@intentmedia.co.uk
Associate Editor Lisa Carter
lisa.carter@
intentmedia.co.uk
Editor at Large Gary Cooper
gary@garycooper.biz
Staff Writer Adam Savage
adam.savage@
intentmedia.co.uk
Advertising Manager Darrell Carter
darrell.carter@
intentmedia.co.uk
Account Manager Jodie Holdway
jodie.holdway@intentmedia.co.uk Designer
Sam Richwood
sam.richwood@intentmedia.co.uk
Production Executive Florence Beaumont
florence.beaumont@
intentmedia.co.uk
Marketing & Circulation Lindsay Banham
mipro.subscriptions@
c-cms.com Publisher
Stuart Dinsey
stuart.dinsey@intentmedia.co.uk “
The internet is not going away, it is the greatest advertising tool for your store and when used with some imagination and cunning, does not necessarily have to cost a fortune to take advantage of. Use the Force. If your business is not targeting national sales, you can still capitalise on social networking – it’s a free way to keep contact with your local customers. You don’t just have to be the cheapest seller to use the internet to your advantage.
The internet is not going away, it is the greatest advertising tool for your store and when used with some imagination and cunning, does not necessarily have to cost a fortune to take advantage of.
My points here are that there are ways of turning disadvantage to advantage. There are options and opportunities for all stores, no matter how big or small. We have been a distributor, although we still prefer the term wholesaler, for close to 20 years and yes, the industry and consequently our business has changed hugely in the last four years.
Every store that we supply is uniquely different from its competitors so apart from continuing our aim to carry good levels of stock and ship them quickly, we also try to address that retailer’s individual need.
There is no ‘one size fits all’ foolproof plan for a music shop – but sometimes even a small change can make the difference between success and failure. One certainty is that the stores that survive for the next couple of tough years will come out of the recession in a very strong position indeed.
SUBSCRIPTIONS UK: £50 Europe: £60 Rest of World: £90
Enquiries:
mipro.subscriptions@
c-cms.com Telephone: 01580 883 848
Charges cover 12 issues and 1st class postage or airmail dispatch for overseas subscribers.
MI PRO is published 12 times a year
miPRO is a member of the PPA
© Intent Media 2012 No part of this publication may be reproduced in any form or by any means without prior permission of the copyright owners. Printed by The Manson Group, AL3 6PZ
ISSN 1750-4198
Enquiries to: MI Pro, Intent Media, Saxon House 6a St. Andrew Street, Hertford SG14 1JA.
Copyright © 2012 Intent Media Printed by The Manson Group, AL3 6PZ
82 July 2012
Tel: 01992 535646 (Editorial) Tel: 01992 535647 (Advertising) Fax: 01992 535648
NEXT MONTH August
Our focus remains on US manufacturing, as we report back from a recent trip to see drumstick maker Regal Tip.
Mixers, Cymbals and the Back to School market are covered in August’s Sector Spotlights. We’ll also have a full review of this year’s MI Retail Conference & Expo, including feedback from retailers. For advertising opportunities in this issue, call Jodie Holdway on 01992 535647 or send her an email at
jodie.holdway@intentmedia.co.uk. For editorial enquiries, Ronnie Dungan can be contacted on 01992 535646 or
ronnie.dungan@intentmedia.co.uk.
www.mi-pro.co.uk
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