SMEs 'need to specialise and innovate' to compete
Jan 15 2008
SME retailers need to 'specialise' and 'innovate' to compete with larger companies, claims a trade organisation.
The Entertainment Retailers Association (ERA) says that 'these are the keys to survival' for SMEs operating in the music retail industry, for example.
Steve Redmond, spokesperson for the ERA, says that some traders have already reacted to music industry changes such as iTunes’ falling prices and the potential relaxing of laws on CD copying.
'A good example is the recently opened Rough Trade store in London's Brick Lane. Much of its stock is simply unavailable in high street stores, he says.
New technologies and online forums, such as the independent download service 7digital, will allow SMEs to compete in the industry.
Last week the BPI, in association with the Official Charts Company, claimed that music download sales reached almost three million in over Christmas – more than doubling total sales from same period the previous year.
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