Business News HMV Timeline Retail Top Stories

HMV increases its market share

By | Published on Tuesday 5 August 2014

HMV Digital

So, perhaps you should have all listened to the boss of the rescued HMV, Hilco’s Paul McGowan, when he told the Telegraph last month that the high street entertainment retailer was doing just fine thank you very much, rather than you all shaking your heads and muttering, “Yeah, right, you’re doomed really aren’t you?”

Of course, now in private ownership, HMV’s financials aren’t so public, but McGowan claimed like-for-like sales were up 9.2% for the second quarter of the year, and while the high street disk seller is still a long way off regaining any crown off big boy Amazon, it is seemingly starting to reclaim ground off the pesky supermarkets.

Or that’s according to Kantar Worldpanel in its latest retail marketshare report, which reckons that for the quarter ending 6 Jul all the supermarket chains saw their share of the entertainment retail market slip, while HMV was up from 13.6% to 14.7% quarter-on-quarter, compared to its slump to a 10.7% share immediately after last year’s administration.

Game, another entertainment retailer that went to the brink, has also seen some growth. Though Amazon, at 21.8% market share, still remains the biggest, having further increased is share in the last year.

Says Kantar’s Strategic Insight Director Fiona Keenan: “HMV appears to be making a comeback on the high street following a strong performance over the past quarter. Performing strongly in video and music, it is winning some shoppers back from the grocers as well as increasing spend from its current shoppers by £3 over the past twelve weeks alone”.



READ MORE ABOUT: | |

SIGN UP GO PREMIUM CMU NEWS CMU DAILY CMU DIGEST CMU TRENDS SETLIST