Fnac remains a profitable company in Belgium despite of the economical crisis and upcoming competition such as MediaMarkt and Saturn. The Belgian departments produced a turnover of 200 million euro, that’s 4.4 percent of the groups turnover.
We can itemize all the elements that brought out the turnover. The turnover of audio, video and games, the “content”, is the prominent element. It still represents 30 % of the total turnover , despite of the decrease of 2.7 % this year. The reason that this segment of the market decreased is mainly due to the fact that producers did not carry-in a new video console. Because of that the games’ profit decreased quite a bit. The shortcoming of the previous segment gets equalised by the increasing sale of books. They represent a quarter of the total profit made by the Belgian department of Fnac.
When it comes to consumer electronics, they sell more, but the prices decline very fast. Therefore the turnover remains the same.
In the near future, they expect loads of new technology to display in their shops such as the iPad and e-books.
Fnac Belgium still has some work to do. They have to improve on their online-sales, and fast. More and more people buy online and this might add a big share to the turnover.
The things written in the article, I agree with them completely. There is nothing to disagree with anyhow. When it comes to economics, technology is a very sensitive component.
Technology renews itself all the time. 2010 or 2011 might become the year of the iPad, who knows? But in two to five years the iPad might be in the possession of everyone.
Things become cheaper the longer they exist. And everything that has something to do with technology is expensive in the beginning. There is nothing to agree or disagree, it’s a fact.
I think the technology sector is not one of the biggest victims of the crisis. So I’m not surprised that Fnac keeps going. Money or not… In this society we need technology.
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Off course people will look at the price of all these technological stuff. Or some of the people will wait for a certain time until the price decreases because as Floor already mentioned, things become cheaper the longer they exist.