Jessops is the UK’s largest retailer in camera equipment with just under 200 stores across the country.
It has been said that the main causes for the company going into administration is due to intense competition from online retailers and mobile phone technology.
With camera phones improving their technology, everyone effectively has a camera in their pocket which is definitely taking away from the ‘point and shoot’ market, and with aggressive pricing competition with online specialist retailers, it is hard to keep up profits to maintain high street stores.
The general view of most high street retailers is that they’re overpriced against the online retailers, which in some cases is very true. I have seen cameras that were 20% more expensive in the store, than they were online.
However, the Jessops website was always competing with the other online retailers with their online prices, and it seems that a lot of consumers simply assumed Jessops would be overpriced due to what they had seen in store.
I regularly checked their prices online as I was always keeping my eye out on the trending prices of camera equipment, so I know first-hand they were not as bad as people thought.
So due to the dying demand of point and shoot cameras and the stigma of being overpriced for higher end DSLR’s, Jessops have unfortunately made too much of a big loss in 2012 to justify continuing business.
With a turnover of £236m in 2012 and no profits stated publicly at the moment, I fear the amount of losses is astronomical.
As a photographer based in the UK, I am sad to see the stores go out of business. Not only due to being a photographer who has a love for almost anything photography related, but more so for the 2000 job losses this will create.
This is definitely an unfortunate event here in the UK.
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