Spying on the Virgin Megastore liquidation sale
The Virgin Megastore is following Circuit City into the abyss, with the chain's US retail stores in the process of closing down. Similar to Circuit City's infamous liquidation sales, Virgin is currently offering its wares at "up to 30-percent off," according to the copious signage spotting outside Virgin's Union Square location in New York.
Where am I going to find $17.99 CDs now?
(Credit: Dan Ackerman)Ironically, that Virgin Megastore sits on exactly the same block as the Circuit City store we visited in January, and the two liquidation sales are also very similar, judging from what we found this week.
The actual signs and policies are nearly identical to the ones found at Circuit City, and the discounts offered are equally uninspired. Most items, including CDs, DVDs, Blu-rays, and games, were still listed at 10 or 20-percent off MSRP, which means you're likely to find a better deal at Amazon.
The Virgin Megastore always had a decent consumer electronics section, but the deals there were in the 5-10-percent range, and we spotted a few iPods and Apple TV units (at 5-percent off), a non-HD Creative Vado video camera, several Sony digital photo frames, lots of Rock Band instrument kits, and a JBL Soundstage iPod speaker system.
Check out our gallery of surreptitiously snagged in-store spy shots below for details on what we found, plus price comparisons on specific deals.
[Previously: Spying on the Circuit City liquidation sale]
New York native Dan Ackerman, a former radio DJ turned journalist, has written about technology and music for publications including Spin, Blender, The Hollywood Reporter, and USA Today. He hosts the weekly Digital City podcast and the New York edition of Editors' Office Hours. Dan's new album, Tales Out of Night School, is available now. E-mail Dan. 
If they sell CDs for $5 a pop, I know I'd buy a ton of them. I want the full bit rate, not the crap you get from itunes or torrent sites. But for $18 for 3 songs? I'm willing to go with the lower bitrate.
The same goes for movies. $20 for a DVD and $30 for Bluray is way too much.
$10 for DVDs and $15 bluray would get me to buy them.
Until then, it's going to be a stand off between the record/movie companies and the consumer, with the consumers winning because of piracy.
i know when i worked at a business that closed years ago, the liquidation firm essentially bought everything (product, fixtures, employees) and ran the company until everything was gone. they had final say in everything, they paid us, the actual company that was closing had nothing to do with anything once the liquidation started.
I don't mean movies with actors that their own mother wouldn't recognize.
I'm talking about big hits like:
Wall*E = $30
Cars = $35
Transformers = $40
Ratatoullie = $30
...etc.
The similarities between Virgin and Circuit City storefronts are so plentiful its spooky. The common denominators here (fashionably-high-on-price/realistically-low-on-common-sense) should make for great case-studies in business schools for ages to come.
The only real shame here is that both of these companies survived this long. This indicates to me that we've bred a generation of price-stupid shoppers. No doubt, when overall economic conditions improve, this cycle will repeat itself all over again.
In parting, I would like to leave you with this tidbit of wisdeom. At the end of the day, when all is said and done, digital delivery will trump all brick and mortar entertainment venues...especially those venues that charge premiums for the same stuff you can get online for free or at Wal-Mart for 30% less.
I swear there's something wrong with my keyboard. ;)
- by 1kingsfan May 10, 2009 10:54 AM PDT
- I wish the associates who worked at this store nothing but the best of luck. The hardest thing I've gone through in my retail career was the liquidation at Circuit City and believe me, I feel your pain. I hope the vultures at the stores choke on the "deals" they get.
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