HMV moves into gift experience market
The entertainment retailer has teamed up with media company Time Out and gift experience specialist Smartbox to create a Time Out-branded range of Smartbox lifestyle gift experiences. The range is being sold at pop-up stores in Cardiff, Clydebank, Oldham, Fareham, Ealing, Ilford, Lewisham, and at One New Change in the City of London.
The new gift experience offer is part of HMV’s wider strategy to extend its traditional product lines by adding other forms of entertainment products such as personal technology devices and accessories.
James Flett, business development projects manager at HMV, said: "HMV's remit has always been to give its customers the widest-possible access to entertainment products. So our move into the gift experience market with Time Out and Smartbox is a natural step for us that supports our continuing transformation into a broad-based entertainment brand."
Garry Barone, Smartbox’s head of sales & marketing, said: "With UK consumer demand for gift experiences said to be growing by about 30-35% a year, particularly among 18-44 year-olds, the Time Out Smartbox range is designed to give HMV a new high-value product line that is risk-free, easy to stock, and with strong consumer appeal."
He added: "The product is high-end, with a high average price-point that makes the retailer’s earnings per square metre extremely attractive."
HMV will offer around 1300 different experiences in ten themed Smartbox packages.
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