At a time when some see the high street as being in decline, people were rather surprised that HMV – not long out of administration – was opening Europe’s largest entertainment store in Birmingham at a huge 25,000sq ft location.
Yes, there are a number of reasons why such a big bet on physical retail may seem at odds with prevailing trends, but the reality is that there is a huge opportunity on the high street for stores prepared to make the right investment.
There’s no denying that online retail is huge, but not everyone wants to buy something based on a picture they’ve seen on a website – they’ll want to go into a store and check it out for themselves before parting with their hard-earned cash. The only way consumers can do that is through bricks-and-mortar shops. From an entertainment merchandise retail perspective, we use the mantra: “bring the virtual to reality”. Traditional retailers need to do the same.