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FORUMS Marketplace & Market Info Market Watch 
Thread started 28 Mar 2007 (Wednesday) 09:29
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Jessops - profit warning

 
andrewc
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Mar 28, 2007 09:29 |  #1

http://news.bbc.co.uk/​1/hi/business/6503633.​stm (external link)

If Jessops weren't so damned expensive for a lot of their stuff, maybe sales wouldn't be down so much...


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kato1
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Mar 28, 2007 12:22 |  #2

Summary justice perhaps?

I think most of us in the UK will concur whole heartedly with your remark.

If only they would market at competative prices then they would not find themselves in their current position.

Surely a company as big as Jessops has the benefit of bulk purchasing that the smaller dealers do not. Why is it their prices don't reflect this?

I will be amazed if this company manages to remain in business very much longer.

I can only feel sorry for the staff they are letting down and who could end up on the bread line, should my prediction comes to pass!


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GSH
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Mar 28, 2007 12:29 |  #3

It seems to me that Jessops Senior Management have failed to grasp the fact that Digital Photography and the Internet go hand-in-hand.

If we want to buy in the UK all we need to do is check the likes of Camerapricebuster to get the best prices and Jessops are usually well down the list....then there's the option of Importing and saving hundreds of pounds on higher-spec gear.

You can either carry limited stock and rely on the less well-informed user parting with £££ or adopt the pile high & sell cheap approach. Jessops seem to prefer the former and they're paying for it.

I won't be shedding a tear at these results.


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perfect_pixel
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Mar 28, 2007 13:43 |  #4

"...While unit sales have held up, Jessops has been hit by the falling price of cameras which has cut profit margins..."

Has anyone noticed Jessops cutting their prices in line with the falling price of cameras??

I know nothing at all about the company, how it has been run or even it's motivations but they do seem to have been trying to take the p*ss. It is a shame though, the staff in my local stores are friendly and knowledgeable and quite often have admitted that their prices are pants. I would feel bad for them but not for the company.

Mind you 15p a share.....worth a punt??

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Big ­ WIll
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Mar 28, 2007 13:59 |  #5

15p a share, hehe! Worth a punt??? Maybe! But I don't think they will be as good as google shares growth! I said to my Dad can you buy me some google shares, well he didnt! now look at them :(

Jessops is a hard one, you just have to look at every trader in the highstreet, all are generally down on profit due to the internet, both customers going to shop online and margins becoming tighter.

People tend to go in have a look then go home find the best price and buy it online, it comes next day?? What more does a customer want?
Well they always want to be able to take the item back and get an immediate replacement when it goes wrong (cannot do that online), get more advice from the company your buying from (You cannot normally do that online, although you can get information about products easily online.)

I don't think any shop like Jessops will pick up business unless they diverse and offer something new and worthy of use shopping there... Free Cleaning Service with every dSLR?? Just thinking out loud!


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Simon ­ Harrison
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Mar 28, 2007 16:19 |  #6

High street retailers like Jessops need to start differentiating themselves in other ways to remain competitive. I for one will pay a slightly higher price on the high street if I know that :-

a. I'm going to get honest, straightforward advice from knowledgable sales staff

b. I can walk in and return / exchange the gear without any quibble if something goes wrong.

Places like Jessops will never be able to match the cheapest of the internet or offshore prices, but they seem way overpriced IMHO just now. They do need to work on other things rather than price though to regain their customer base.

Cheers,

Simon.


Simon

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woollyback
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Mar 28, 2007 22:34 |  #7

A good example for me where jessops have got it wrong. Middlesbrough town centre Jesspos branch... next door but one RGB labs.

Totally different outlook on customer value and service, spent ages in RGB last week talking about options for what I wanted to purchase and they couldn't have been more helpfull.

As simon said, you don't mind paying a bit extra if you get something for it.

Rob




  
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Wazza
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Mar 28, 2007 23:21 |  #8

Interesting.

I'm looking at travelling and working in England for several months till at least the end of the year. I was considering working for some company such as this, or assisting a photographer somewhere in Kent/London.
Any other good retailers who aren't so dear?


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mamasad
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Mar 30, 2007 08:01 |  #9

hi I also use this sit to get some cash back its not much but every little helps http://www.quidco.com/ (external link) got my 400d from jessops online for £459.79 and got 3% cash back from quidco but I do agree that prices are higher in the UK than in Europe and us.




  
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Jessops - profit warning
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