RE: Rental17 Jul 2023 13:39
Tylo, I like your analysis. I agree, the interest rate rise was unpredictable and will eat in to cash going forward. Bringing down the debt will take a while. We were told that the debt will peak next year and start coming down the year after (that was an answer to a question of mine). Ofcourse if interest rates increase further things will get worse.
The Declutter comments and the drop in consumer tech revenue was a surprise. I was expecting the consumer tech revenue to increase and was disappointed. This is probably due to the shift in focus to rentals. I don’t understand why they cannot push both, sales and rentals. If they sell more, even on lower margins, we’ll have a benefit as it will increase the revenue and profit. Every little helps. A question to ask Steve.
It also seems that most effort is directed to customers on the MMAG store but without decent advertising to promote that we are loosing out.
A friend said to me that he is upgrading his phone so I said great which one are you going for, iPhone 14? He answered no, I am buying a second hand one. So I said great, are you buying from Music Magpie? He goes who? I am buying from Back Market.
I then searched for a specific phone on the Back Market and got dozens of hits but very few from MMAG. A search for the same phone on the MMAG store brought up a lot more results, significantly more than the MMAG phones returned on the Back Market. Why is MMAG not advertising all available products on the Back Market as well as on the MMAG store (+EBay +Amazon)? Another question for Steve.
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