Apparently the Wellington Real Groovy has been bought out by one of the staff, and will continue to operate.
In other news, Aussie chain JB Hi-fi are opening their first Wellington store next to the underground food court in Willis St - probably mid-November.
In other news, Aussie chain JB Hi-fi are opening their first Wellington store next to the underground food court in Willis St - probably mid-November.
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hopefully, RG will survive, it's a real NZ music institution in my view
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I'm a bit late, but here goes.
Real Groovy have been sh*tting in their own nest for too long, and something had to give. Trust me on this, I used to own a music shop in Ak so I have some idea of how things go.
Second hand business is where most of their profits are.They have been losing second hand trade to TradeMe for quite a while due to the fact you can put a CD on TradeMe and maybe get, say $10 for it, whereas RG will give you maybe $4 for it. Logical where you are going to sell it then.
So what do RG do to react to this? Well, instead of deciding as a company to pay more for the CD, they instead decide that they will have to pay less, as their second hand trade seems to be getting less profitable! Anyone can see that that sort of business practice aint gonna get you too far.
Also, (I'm talking about the Ak shop here) far too much of their cash ha s been tied up in slow moving stock, like clothing and vinyl. They've tried to be everything to everyone and it's now coming back to haunt them. Concentrate on what you know and leave the other stuff to those who know it.
Their shop is far, far too big and they are tied into a long lease. They need to get out of the lease and to relocate. Their downstairs floorspace is wasted yet they pay good money for it.
Also, a vast % of their main floorspace is taken up by vinyl (which they import by the container from the US. Why?) yet the vinyl market is probably only about 5% of turnover. Stupid, and just because the owner is a vinyl fan. Heart ruling the head stuff.
I sincerely hope they get out of the position they are in, I love going there and spending an hour a a few bucks. But they've got themselves into the current situation through mismanagement and things will have to change drastically if they are to survive.
Nix, Leyton Orient and Alloa Athletic supporting schmuck.
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I'm a bit late, but here goes.
Real Groovy have been sh*tting in their own nest for too long, and something had to give. Trust me on this, I used to own a music shop in Ak so I have some idea of how things go.
Second hand business is where most of their profits are.They have been losing second hand trade to TradeMe for quite a while due to the fact you can put a CD on TradeMe and maybe get, say $10 for it, whereas RG will give you maybe $4 for it. Logical where you are going to sell it then.
So what do RG do to react to this? Well, instead of deciding as a company to pay more for the CD, they instead decide that they will have to pay less, as their second hand trade seems to be getting less profitable! Anyone can see that that sort of business practice aint gonna get you too far.
Also, (I'm talking about the Ak shop here) far too much of their cash ha s been tied up in slow moving stock, like clothing and vinyl. They've tried to be everything to everyone and it's now coming back to haunt them. Concentrate on what you know and leave the other stuff to those who know it.
Their shop is far, far too big and they are tied into a long lease. They need to get out of the lease and to relocate. Their downstairs floorspace is wasted yet they pay good money for it.
Also, a vast % of their main floorspace is taken up by vinyl (which they import by the container from the US. Why?) yet the vinyl market is probably only about 5% of turnover. Stupid, and just because the owner is a vinyl fan. Heart ruling the head stuff.
I sincerely hope they get out of the position they are in, I love going there and spending an hour a a few bucks. But they've got themselves into the current situation through mismanagement and things will have to change drastically if they are to survive.
Yeah good shop for NZ but their stock lacked real depth and was hit and miss .Not sure if they or any record shop will survive the downloading thing. I still prefer going to a shop to buy music but that is getting rarer as even if I'm not downloading I can buy new albums from amazon etc...
ForteanTimes2008-11-01 10:15:56
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