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Title: What Should Jessops be doing to secure its future in high street retailing in the information age?
Description: What Should Jessops be doing to secure its future in high street retailing in the information age? Founded in 1935 in Leceister, Jessops was one of the first camera retailers to open on the high street. Jessops offers a wide range of photography equipment and photo prints. It is clear Jessops has been successful at adapting though modernization and keeping customers as it has been around for almost 80 years. This is highly impressive for a specialized technology business as technology development is so fast. However, it is inevitable that Jessops will go under at some point and research shows that, since 2005 Jessops have struggled to stay in the current market due to the highly competitive, growing and changing technology industry. Furthermore, the recession,.....
Description: What Should Jessops be doing to secure its future in high street retailing in the information age? Founded in 1935 in Leceister, Jessops was one of the first camera retailers to open on the high street. Jessops offers a wide range of photography equipment and photo prints. It is clear Jessops has been successful at adapting though modernization and keeping customers as it has been around for almost 80 years. This is highly impressive for a specialized technology business as technology development is so fast. However, it is inevitable that Jessops will go under at some point and research shows that, since 2005 Jessops have struggled to stay in the current market due to the highly competitive, growing and changing technology industry. Furthermore, the recession,.....
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Kimberley Sheridan
000733306-4
11/03/2013
What Should Jessops be doing to secure its future in high
street retailing in the information age?
Introduction
Founded in 1935 in Leceister, Jessops was one of the first camera retailers to
open on the high street
...
It is clear Jessops has been successful at
adapting though modernization and keeping customers as it has been around
for almost 80 years
...
However, it is inevitable that
Jessops will go under at some point and research shows that, since 2005
Jessops have struggled to stay in the current market due to the highly
competitive, growing and changing technology industry
...
This is backed up by Graham Hiscott, Mirror, 2013, who
states; 'The 78-year-old chain was struggling in the face of cut-throat
competition, changing technology and the worst economic downturn in
generations'
...
These
include expanding internally (products) and externally (market) to increase
sales and minimize risk
...
Making customers aware of the
company, its new changes, and any promotional offers through advertising
...
Through this, Jessops has associated themselves with
expensive camera equipment
...
offering a larger range of products and services aimed at different target
markets
...
1
Kimberley Sheridan
000733306-4
11/03/2013
The company tried to over come its problems by expanding internally; selling
new products and services
...
camera parts
and repairs
canvass, poster,
wall prints
display prints
photo prints
products and
services
Gimmick
prints
mugs, calendars,
photo books
...
Lowering prices
External expansion: Another way in which they expanded there market is by
offering a lower range of public affordable cameras
...
98 compared with
£132
...
The retailer had to bring in a range of cameras for less than £100
during the year, because almost half the market now falls into that price
range’
...
Furthermore, using the
price comparison site (Pricerunner
...
So
why is Jessops no excelling over competitors?
Jessops is still associated with its original brand image
...
Have you heard of Jessops?
2
...
Why?
See
...
2
Kimberley Sheridan
000733306-4
11/03/2013
More than half of the participants had never heard of Jessops
...
The main reason being competitive pricing and the ease of online shopping
...
People are not
aware that the shop even exists yet alone the drastic changes it has made to appeal to
consumers and any deals/sales it has on
...
Having a wider range of advertising methods increases the chances of
everyone engaging with at least one during their day-to-day life,whether
listen to the radio or watching TV
...
Lack of adaption to New technology
Although Jessops has a wider range of camera and photo, products and
services it has a very limited approach to technology
...
Examples of these are as follows;
Combinations of technologies (non-specialized products)
Cameras may have been successful in the early information age however
cameras are becoming less essential because of the combination of
technologies in on gadget is becoming so good
...
These combinations of technologies allow you to do more;
some can automatically upload photos to social networking accounts and
cloud or Dropbox for storage or sharing
...
- The wide variety of apps that can edit, enhance and mold photos into
Page
...
(Andrew Hoyle, C Net, 2012)
One example of how well technology is being
combined is the 'Nokia 808 pure view' phone
with 41 megapixel camera (Seen on the left)
...
Digital vs film and SLR
Furthermore Digital cameras are becoming so versatile and high quality with
all the effects available today Film, DLR and other types of cameras are slowly
fading out which will negatively affect around half of Jessops stock
...
This will also effect the need for a high street shops as
servicing is the main reasons why Jessops needed store on the high street
...
c
...
- Another way of avoiding this could be by creating partnerships with other
technology companies that don’t sell cameras, for example the 'Carphone
warehouse'
...
Therefore they can share
the costs of running a store and share customers to gain sales without
competing
...
4
Kimberley Sheridan
000733306-4
11/03/2013
- Jessops should not focus on early camera technology but look to the future
...
Furthermore, the expense of equipment and storage when stocking
the parts for these repairs exceeds the return
...
- As cameras are becoming less expensive, in most cases it is easier, cheaper
or better for the customer to replace or upgrade there camera instead of
repairing it
...
- Websites have lower over heads ( Do NOT need to pay for a store, store
bills (heating, electric
...
This costs a lot less than up-keeping a store
therefore savings can be passed down to the customer, offering the same
product for less money
...
com Guide, 2013
...
- less time consuming, no need to travel far or around stores
...
com Guide, 2013
...
Page
...
Non-specialized shops
These come into two forms;
First, internal non-specialized shops are shops that don't specialize in one
particular product
...
Most companies try to expand there products and markets to maximize
profits unless they are specializing to create a unique or valued brand
...
However this is puts the company at high exposure and risk
...
6
Kimberley Sheridan
000733306-4
11/03/2013
change the company will no longer be necessary i
...
it will close down
...
This can be seen in the
How non-specialised
shops over came the
challages that lead to
jessops failure
Cameras are
not selling
New technology
over takes over
cameras
Jessops:
specailised
shop
small percentage of product
range are cameras
Recession
cameras are merging
with other technologies;
Phones, tabs,
computers, gaming
stations
whole
Product
range is
cameras
Jessops
Closure
stop selling cameras
with little negative
effect on business
non-specialised
shop
Colour Key
out of treat
start of challenges
secondary challenges
high risk
flow diagram below
...
Effects of recession
The recession started to have negative effects on companies such as Jessops
in 2008 and it has been a negative spiral from there (getting worse and
worse)
...
The number of High Street chains going bust has increased by almost a fifth in
Page
...
Some 194 stores and chains fell into administration during 2012, compared to
183 in 2011 and 165 during 2010, according to data from Deloitte
...
Last year saw the demise of Comet, La Senza and Clinton Cards, with
JJB Sports, Blacks and Game also entering administration
...
Jessops started off as a unique, booming business,
Time: producing problems
low price
becomes
premmient
many
websites
lower direct
overheads
1935
bigger range,
lower overheads
Jessops first
highstreet
store opens
First Camra
shop on the high
street
No
competitors
Non-specailised
shops
More
competitors
come
Cameras are
no longer a
new
technology
Cameras are a
new technology
Camras very
expensive
Only a small
target
population can
afford
More
impulse
buys
Competitive
priceing for
cameras on the
market
Cameras get
cheaper
Jessops target
market: rich
2008 recession
kicks in
2013
Jessops fail to lower prices
or venture into public
affordable cameras; they
stayed with profestional
expensive cameras
store upkeep
prices means
camras are
more
expensive
people buy
from
competitors
Market expands as
more people can
afford camras
Jessops fails
to Market to
new markets
'Britain's only specialist nationwide camera retailer', Lucy Crossley, Dailymail, 2013
Over all Jessops biggest mistake is failure to change; Because the success the 80 year old
business, Jessops were so sure of there brand they felt no threat or need the change
...
8
Jessops
Closure
Kimberley Sheridan
000733306-4
11/03/2013
change in a developing technology based world
...
This means supplying a larger range of technologies (not specializing in cameras
and photography), expanding markets to meet the needs of everyone
...
This will allow them
to develop new brand projecting up-to-date , affordable and new technology
...
Therefore the stores will be used efficiently
...
cnet
...
uk/mobile-phones/best-camera-phones-50000766/
- Begbies Traynor, 2012 (mirror)
- Graham Hiscott, Mirror, 2013 http://www
...
co
...
- Lucy Crossley, Dailymail, 2013
http://www
...
co
...
html
- Matthew Torres, former About
...
about
...
htm
...
com, 2012)
- Rob Waugh, daily mail, 2012 http://www
...
co
...
html
Evaluation
Out line process for problem;
When given the task of analyzing Jessops as a system to give the company
advise on ways in which they can improve I set out a process of;
Firstly, finding what problem/s my chosen company, 'Jessops', has
...
Finally, creating solutions for these problems
...
9
Kimberley Sheridan
000733306-4
11/03/2013
This method of working backward proved successful in my analysis
...
customers found prices were to expensive
2
...
c
...
The expense my be do to the recession (people are more careful with
what and how they spend there money)
...
Lack of advertising
3
...
I felt these problems were already causing drastic consequences
...
Why?
I looked into this and found;
They were doing to little to late
...
Lowing
prices, new products and services
...
c
...
To focus on online sales so online store advantages do not over ride 'Jessops'
...
c
...
This will help me analyze future problems for causes and
solutions
...
Page
...
Out line problems and how they link to one another
2
...
Suggest solutions and show how they will provent, slow down or stop the
problem
...
An over all analysis of all the solutions
...
Evaluation 30%
What you did?
How you did it?
What went well?
What challenges did you face?
What you learnt?
Ow this will help in the future?
Do you feel you answered the question fully?
Working notes 30%
Page
...
What it does
Specialized Camera shop
Jessops currently offer
New and old cameras
Camera repairs
Camera parts
Photo prints including normal photos,
Display prints i
...
canvass, poster and wall prints and
Gimmick prints, i
...
mugs, calendars and photo books
...
1
...
high and increasing competition
3
...
12
Kimberley Sheridan
000733306-4
11/03/2013
Bellow is a survey i created and asked 50 opportunist people to fill out as part
of my research
...
Quantitive: 29 people said No
21 people said yes
Qualitative: I spoke to a few people that had heard of Jessops (yes)
...
Que 2
...
Que 3
...
13 said they are happy with current provider
...
Page
...
offering a larger range of products and services aimed at different target
markets
...
Lowering prices
Lack of advertising
People are not aware of the changes Jessops have made
wider range of advertising methods; TV, radio, online, vouchers through the
post, newspaper and magazine prints, billboard and other display advertising
...
- Film, DLR and other types of cameras are slowly fading out
- More cameras=decreasing value
solutions;
- Jessops need to offer a wider range of technology (Camera phones e
...
t
...
Rise of competition
Online shopping
Non-specialized shops
These come into two forms;
First, internal non-specialized shops are shops that don't specialize in one
particular product
...
Page
...
The number of High Street chains going bust has increased by almost a fifth in
two years, figures released last week showed
...
Retailer
...
'
Lucy Crossley, Dailymail, 2013
Page
Title: What Should Jessops be doing to secure its future in high street retailing in the information age?
Description: What Should Jessops be doing to secure its future in high street retailing in the information age? Founded in 1935 in Leceister, Jessops was one of the first camera retailers to open on the high street. Jessops offers a wide range of photography equipment and photo prints. It is clear Jessops has been successful at adapting though modernization and keeping customers as it has been around for almost 80 years. This is highly impressive for a specialized technology business as technology development is so fast. However, it is inevitable that Jessops will go under at some point and research shows that, since 2005 Jessops have struggled to stay in the current market due to the highly competitive, growing and changing technology industry. Furthermore, the recession,.....
Description: What Should Jessops be doing to secure its future in high street retailing in the information age? Founded in 1935 in Leceister, Jessops was one of the first camera retailers to open on the high street. Jessops offers a wide range of photography equipment and photo prints. It is clear Jessops has been successful at adapting though modernization and keeping customers as it has been around for almost 80 years. This is highly impressive for a specialized technology business as technology development is so fast. However, it is inevitable that Jessops will go under at some point and research shows that, since 2005 Jessops have struggled to stay in the current market due to the highly competitive, growing and changing technology industry. Furthermore, the recession,.....