MUSIC RETAILER HMV has launched a trial of its first Techshop in London as it tries to reverse declining sales.
The new store in One New Change mall near St Paul's London will sell technology products such as Ipads and other tablets, Ipods, speakers and headphones. It will also offer a small selection of games, DVDs, Blu-rays and chart CDs.
HMV will launch a second site before Christmas, and if successful, will roll out the format more extensively under the HMV Techshop banner.
Whether HMV can succeed with the new format is questionable. US retailer Best Buy announced last week that it will close its 11 UK outlets after huge losses, while others such as DSG report declining sales.
However, HMV's Fast Forward stores, another trial format that extends the selection of technology products available at the retailer, have met with success, according to an HMV trading update on 9 September.
HMV's overall sales were down 15 per cent for the quarter ended 3 September, and the retailer needs to do something soon if it's going to avoid suffering the eventual fate of its former rival Virgin Megastores. µ