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Old 04-07-06, 02:49 PM   #1
MadonnasManOne
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Join Date: Mar 2006
Posts: 1,429
What's going down at Tower?

For those of you wondering what is going on with Tower offering lower prices, here is your answer:

http://www.videobusiness.com/article/CA6322926.html

Tower lowers its prices
Specialist moves to compete with mass merchants
By Susanne Ault 4/7/2006
APRIL 7 | Specialty retailer Tower Records is becoming more aggressive in its pricing and marketing in a bid to increase its DVD market share.

Tower is dropping the price on many new release DVDs to $16.99 or less, its lowest price point yet. The retailer has traditionally offered new releases for $19.99, below the suggested retail price but above the deep discounting done by many mass merchants and consumer electronics retailers. Tower began the new pricing strategy in March and has used it for titles including Brokeback Mountain and Chronicles of Narnia: The Lion, the Witch and the Wardrobe.

Tower also has dropped its price on many new release CDs by a few dollars, to $9.99.

Similar to other price slashers, Tower’s basement pricing typically lasts through each title’s street week and then inches up. The $16.99 titles are being slotted at front-of-store endracks branded “This Week at Tower.”

“What we’re trying to do is have a competitive price point with the Circuit Citys and Best Buys of the world,” said a Tower source. “We felt we were being perceived as one of the higher-priced retailers out there. But we’re getting great customer feedback letters already. They used to say they love to shop at Tower but would go buy the new releases elsewhere.”

The chain also is doing about 25% more print and radio advertising than it did at this time last year.

Since adopting the new pricing stance, Tower has begun to stress an overall “New Low Price” theme running through its newspaper ads, as it tries to avoid violating studio “minimum advertised pricing” policies.

Additional TV spots are under consideration.

Last year, Tower successfully tested a $5 and less price point for extreme value titles, which included old films and classic TV (VB, 7-14-05). That helped spur the chain into broadening its discounting.

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I wish we had a Tower, here in Tulsa, Oklahoma.
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Old 04-07-06, 04:04 PM   #2
darmok
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Join Date: Oct 2002
Location: East Coast
Posts: 1,270
aha! good to know. i'll gladly give them back some business on release day!
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Old 04-07-06, 05:30 PM   #3
RustyOrgan
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Join Date: Jan 2006
Location: Fairfax, VA
Posts: 814
Man - I've always loved Tower. In any town or city it's a refuge from all the typical Wal-Mart and Targets out there. Plus they have an AMAZING selection - the best selection of titles on hand - toys, magazines, etc. But I have always bought my new releases at Best Buy and Circuit City. Unless it was a midnight release. It was painful to buy catalog titles at Tower but if I really needed something, I always knew that they'd have it. This week I picked up the new Morrissey Special Edition for $14.99 - $5 cheaper than Best Buy and the new Flaming Lips for $9.99. I'd MUCH rather purchase from Tower than some shitty place like Best Buy so I'm really psyched about this price point.
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Old 04-07-06, 05:53 PM   #4
fujishig
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Join Date: Aug 1999
Posts: 16,323
I've long thought of Tower as a non-mall Suncoast or Sam Goody (decent selection, high prices, toys and other stuff are good when they inevitably go on clearance), so I am glad they're making an effort not to follow in those footsteps. And they do seem to have a ton of radio commercials... they must make a new one every week, as I always hear the one with "facts" about new releases.
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