Music retailer HMV has grown its share of the entertainment market during the latest quarter, new research shows.
According to data from Kantar Worldpanel, HMV has increased its share of the entertainment market from 13.6 percent to 14.7 percent in the 12 weeks ending July 6.
The increase is being described as a ‘significant improvement’ on its record low of 10.7 in 2013 after it went into administration.
Restructuring firm Hilco stepped into save HMV from collapse by acquiring its debt in January last year.
Fiona Keenan, strategic insight director at Kantar Worldpanel, said: ‘HMV appears to be making a comeback on the high street following a strong performance over the past quarter.
‘Performing strongly in video and music, it is winning some shoppers back from the grocers as well as increasing spend from its current shoppers by £3 over the past twelve weeks alone.’
Further findings from the research show Amazon remains the entertainment market leader with a 21.8 percent share of entertainment retail.
According to data from Kantar Worldpanel, HMV has increased its share of the entertainment market from 13.6 percent to 14.7 percent in the 12 weeks ending July 6.
The increase is being described as a ‘significant improvement’ on its record low of 10.7 in 2013 after it went into administration.
Restructuring firm Hilco stepped into save HMV from collapse by acquiring its debt in January last year.
Fiona Keenan, strategic insight director at Kantar Worldpanel, said: ‘HMV appears to be making a comeback on the high street following a strong performance over the past quarter.
‘Performing strongly in video and music, it is winning some shoppers back from the grocers as well as increasing spend from its current shoppers by £3 over the past twelve weeks alone.’
Further findings from the research show Amazon remains the entertainment market leader with a 21.8 percent share of entertainment retail.
