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Business News HMV Timeline Retail
Amazon accounts for fifth of UK entertainment retail sales
By CMU Editorial | Published on Wednesday 25 July 2012
Amazon now accounts for a fifth of the UK entertainment retail market, according to the latest stats from Kantar Worldpanel. As previously reported, according to the retail stats, Amazon overtook HMV as the country’s biggest entertainment retailer late last year, though in spring the two firms were more or less neck and neck.
But, according to the latest stats, Amazon has now grown its market share by 3.2% year on year, meaning it now accounts for 21.1% of entertainment product sales, giving it quite a lead over HMV, which now accounts for 16.6% of sales, down from 17.4% in the same period a year earlier.
Kantar Worldpanel Consumer Insight Director Fiona Keenan told Retail Week: “Amazon has grown its market share considerably since last year and now has a convincing lead over HMV, which has again seen year-on-year losses. The retailer will undoubtedly have been affected by its store closures; however, the trend of consumers switching spend online has also had an impact”.
“However, HMV is not alone – supermarkets too are feeling the squeeze as Tesco dropped 1.7 percentage points and Asda 0.2 percentage points in the past year. Sainsbury’s is the notable exception to this rule, increasing its share of the market to 5.3% as a result of a strong focus on its video offer”.
