By Patrick Avenell
JB Hi-Fi has greatly expanded its musical instruments range, which is being sold in selected stores in four states of Australia.
As first reported by Current.com.au earlier this month, JB Hi-Fi is broadening the product categories it sells as it looks to offset the lost revenue from the price erosion that has stripped the value out of several consumer electronics categories — most noticeably flat panel TVs.
“[JB Hi-Fi’s] entry into the musical instruments category will provide further growth opportunities,” said a spokesperson in early February.
Whilst JB Hi-Fi is still only selling two types of instruments — guitars and keyboards — it has substantially increased the number of stock keeping units (SKUs) available, while also increasing its range of ancillary products, such as amplifiers, stereo cables, guitar strings, tuners, keyboard stands and digital monitors.
Brands currently available include Casio, Roland, Yamaha and Marshall.
Only 21 of JB Hi-Fi’s 165 stores will carry musical instruments (a full list is below), with Victoria and New South Wales the best serviced states. All products have been made available for purchase on JB Hi-Fi’s website.
This entry into a new category is part of JB Hi-Fi’s broad strategy to divest itself from margin pressure associated with consumer electronics. JB NOW, a music streaming service launched late last year, is another example of the traditional bricks and mortar retailer’s efforts to grow revenue outside of normal channels.
Also being explored by JB Hi-Fi is parallel importing, with the publicly listed retailer selling cameras and accessories through its JB Direct web portal.
JB Hi-Fi stores selling musical instruments:
New South Wales – Brookvale, Chatswood (Westfield), Erina, Kotara Homemaker, Moore Park Supa Centre, Parramatta (George Street).
Queensland – Bundall (Upton Street), Westfield Garden City.
Victoria – Camberwell (The Well), Chadstone (Warrigal Road), Cranbourne Homemaker Centre, Essendon (DFO), Frankston, Maribyrnong, Narre Warren, Northland Homemaker Centre, Nunawading, Wantirna South (Knox), Werribee.
Western Australia – Osborne Park.