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Interesting Article from Music Trades Magazine


Anderton

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We saw this article by Brian T. Majeski, Henry Ford and Steve Jobs...Retail Revolutionaries, in Music Trades magazine and thought it was worth the "Beyond 11" treatment as a guest commentary. Although it's about music stores/brick and mortar/online shopping/customers, some of the observations are quite profound and universally adaptable.

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That was a very interesting article. I thought it was interesting how the numbers drop off fast when it comes to the price premium people are willing to pay to buy in-store. Five percent extra seems to be about the limit. With MAP pricing, I would think that MI retailers would probably be able to match what Amazon sells for, or at least come close.

 

The big thing today seems to be convenience. If I'm already in the store, I probably WANT to buy it right then and there - if they make it easy and convenient for me to do so, I probably will. Same with online. As long as I don't need it NOW, a lot of the time it's just more convenient to buy online. No getting into the car and fighting traffic, no waiting at the store for assistance or standing in a long check-out line...

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That was a very interesting article. I thought it was interesting how the numbers drop off fast when it comes to the price premium people are willing to pay to buy in-store. Five percent extra seems to be about the limit. With MAP pricing, I would think that MI retailers would probably be able to match what Amazon sells for, or at least come close.

 

The big thing today seems to be convenience. If I'm already in the store, I probably WANT to buy it right then and there - if they make it easy and convenient for me to do so, I probably will. Same with online. As long as I don't need it NOW, a lot of the time it's just more convenient to buy online. No getting into the car and fighting traffic, no waiting at the store for assistance or standing in a long check-out line...

 

Timely article for something I recently experienced….

 

I purchased a book entitled The Wright Brothers by David McCullough three weeks ago while I was on vacation from this small mom and pop bookstore on the Outer Banks. I paid $30.00 plus tax for it, all the time knowing that I could get the same book in Barnes and Nobles here in NYC for 25% off because I`m a member of Barnes and Noble. I saw the book here in NYC a month ago but decided not to buy it because I was in the middle of other books that I wanted to finish first. Anyway, by the time I got to my vacation, I was ready for another book and so I paid a whopping $30.00 for the same book I can get on the Barnes and Noble website for $18.45!

 

Two reasons I did this…

 

1) I really wanted to read the book

 

2) I really want to keep this mom and pop bookstore in business and am willing to pay almost twice for a book to do so.

 

I know I`m in the minority on this one because most people are looking for a bargain. I`m not. I want to keep certain businesses going because I appreciate what they do.

 

I also had the opportunity recently to save $150.00 on Dave Smiths Prophet 6. I pre-ordered from Sweetwater for $2799. After reading some forums, I saw that people were getting the same keyboard for $2350.00. Thats a $449 difference! I contacted Sweetwater and asked them to match the $2350 price another retailer was selling for. My Sweetwater rep emailed me and said they had a good relationship with Dave Smith Instruments and did not want to cut too much into the profit by going to $2350. They did however lower the price and sell the Prophet for $2500. I still paid $150 more with Sweetwater but I appreciate the way they do business and I want to make sure they are around. I`ll do my part by paying a bit more.

 

When it comes to digital media/products, its a different story… look at plug ins for example. We all want it cheap... FREE is even better. Hence the downfall of the record industry. There is no sense of quality in software for most users. They just want everything free. Thats it.

 

Some may call me a sucker, but I own every song, every plug in, and all the software I use.

 

I`ve said this for years, when it comes to digital media/products… the only solution to ending piracy and actually making $$$ from it requires a change of conscience. Thats not happening. Society for the most part is looking for cheap, fast, and easy. Its the lowest common denominator. The idea of selling music or any other art to the masses is a lost cause. I pay because I appreciate the work but most could care less.

 

Shopping malls, online sales are here to stay.

 

 

 

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