could this be the end for Jessops?

[lostprophet]

Their shares have crashed again today ending on 15p

2 weeks ago they were worth about £1.10 then they crashed to 52p and now they are 15p

I'm far from being an expert but that doesn't sound good to me

http://www.advfn.com/quote_Jessops_LSE_JSP.html

 

[JohnMF]

if i buy a load of stuff on finance from them and they go bust, does that mean i won't have to pay the remainder off? =D could be a good time to buy that flash i want!

 

[lostprophet]

guessing their finance is done though another company so you'd still owe that company the balance

 

[Steph]

I am not suprised. They must have lost a lot of sales because of the Internet. Also, their prices seem to be higher than almost everywhere else, including small independent photography shops. And for their high prices, their service is very poor, particularly in smaller branches where, in my experience, the staff are not knowledgeable enough and sometimes don't know a thing about photography and the cameras they are selling. Moreover, they only keep very few items in stock, which means they don't offer anything over the Internet. Again that is my own experience with Jessops, it may depend on branches

Lostprophet, I know you work in a camera shop, I hope it is not a Jessops branch

 

[JohnMF]

Boooo! Back to the drawing board

 

[lostprophet]

I am not suprised. They must have lost a lot of sales because of the Internet. Also, their prices seem to be higher than almost everywhere else, including small independent photography shops. And for their high prices, their service is very poor, particularly in smaller branches where, in my experience, the staff are not knowledgeable enough and sometimes don't know a thing about photography and the cameras they are selling. Moreover, they only keep very few items in stock, which means they don't offer anything over the Internet. Again that is my own experience with Jessops, it may depend on branches

Lostprophet, I know you work in a camera shop, I hope it is not a Jessops branch

No, I work in an independent shop. I know a few of the staff in the Reading branch and they are ok but I now what you mean about their unknowledgeable staff, they hire too many part timers who aren't into photography hence they don't know much

 

[Big Mike]

I think a lot of Photo stores were used to making a lot of their income on consumer photo processing (develop & print). That market has all but dried up. Sure digital camera sales are through the roof...but average people don't buy a camera every year...maybe two or three.

Both the stores and the manufactures realize this loss of a market and they are pushing the consumables. Printers, ink & paper for example. This may help but it's likely not enough to save many of the stores.

That's my opinion anyway.

 

[Don Simon]

I've often criticised or joked about Jessops staff but I'm sure they're not all that bad; however I've always found their shops quite poorly stocked in terms of lenses and accessories, kind of lazy in product selection. It seems to me like the independents sell more variety of products for more camera systems. Online of course Jessops have more variety but the prices tend not to be that competitive. While I probably wouldn't miss them that much, what I don't want to see is the disappearance of camera shops from the average high street. However much I disliked Jessops it was at least somewhere to buy things in an emergency rather than waiting for postage, plus presumably there will be implications for the independents if Jessops goes?

 

[Arch]

yea i had some pretty worthless advice from a young Jessops staff member just last week... and thier in store selection isn't great... but like Zaphod says its always worth having one in the town centre.
I think they are probably loosing money because companies like Boots, Woolworths etc all sell compact digitals... which provide most of the consumer market in digital cameras.

 

[simonkit]

Jessops have 2 main problems:

-- prices are too high & can't compete with the www

-- generally uninformed/inexperienced staff


The latter of these is the biggest problem as it simply means that there's no advantage in buying from the stores as advice/aftermarket assistance is no better than buying from an online store. Personally believe Jessops missed a good opportunity to build a reputation as a knowledgable photographic retailer.

I for one would probably have paid slightly more for receiving "expert" advice & support - this simply doesn't happen in Jessops stores. I think Currys & other "superstore" retailers suffer the same "disease" & will go the same way if they don't change their recruitment/training policies. No sympathy really

simon

 

[lostprophet]

the other way they are loosing money is buy selling key products at a loss, this is from their website

for a start why on Earth would you sell a 400D body only for MORE than you are selling it with a lens?? Thats a loss on every one they sell

Anyway Arch, what were you doing in a sloppys when I hear there is a good shop in Frankfort Gate ;-)

 

[JohnMF]

this has just been on GMTV, apparently sales of digital cameras have dropped because people are using their mobile phones to take photos.

Not sure who conducted that survey for them but there must be more to it than that.