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Why are high street shops such as HMV and Blockbuster facing closure?
Wednesday 10th April 2013 | Hannah
For years, shops like HMV and Blockbuster were the mecca for film-lovers. You could browse through a massive library of films both past and present, whatever the genre was you were bound to find it. However both these stores have find themselves spiraling into administration over recent months, which is sad news to both film and music lovers. So why exactly are high street shops like Blockbuster and HMV lagging so far behind?
The Internet; a genius invention which has revolutionized the way we go about our daily lives. However the Internet has a lot to answer for as it has also completely changed the way we shop. Websites such as Netflix and LOVEFiLM offer the same services as Blockbuster but allow you to rent films without having the hassle of leaving your house. Through the power of the internet, subscribers to these online companies are able to have DVD’s delivered direct to their house which they can then return for free, or they can even stream films from their computer or Smart TV. Life can get hectic and having the convenience of being able to rent movies from the comfort of your own home is perhaps one reason why Blockbuster has found itself in serious trouble. Instead of sitting up and taking notice of what is happening around them and adapting to the technical age, Blockbuster became lost in a sea of new film rental companies.
Online giant Amazon has also cast a huge shadow over the high street. Combining convenience yet also offer competitive prices, which is also another reason why stores such as HMV have ran into financial difficulty. Being an online company, means that Amazon doesn’t have to pay to run stores, utilities or salaries. Therefore these savings can be passed onto their products. Money is a major factor when you are looking into buying a product, which is why Amazon has become so popular and one of the leading shops in recent years. Unfortunately this has meant that stores like HMV have suffered by not being able to keep up with these low prices.
The popularity of downloads has also been another huge factor which has helped to push out high street stores. Again it is all to do with convenience and money. Downloads are a cheap and easy way to access the latest films and music. Some films and music tracks may only be available to download which is another reason as to why HMV and Blockbuster have faced so many problems in recent months.
It is sad to see high street shops such as HMV and Blockbuster closing down but sadly it wasn’t a surprise. Failure to keep up with competition and make full use of the Internet is one of the main reasons as to why. However the way Internet has also changed the way we access film has also had a major impact. Whatever reason, the breakdown of these well-known brands is perhaps a warning to other high street stores as to what can happen if they fail to keep up.
By Hannah Crouch (@carryoncrouch)
