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  #81  
Old 03-14-2013
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Re: West Marine no longer matching prices...

If you look at their financial reports over the last few years, WM is doing quite well. Annual 10K's. Pretty shocked at the gross margins (very good), maybe not so shocked when you realize what they charge. Looks like a well run company on the upward swing. It would be nice if they would share some of their success with their customers a bit more.

WMAR SEC Filings | West Marine, Inc. Stock - Yahoo! Finance
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  #82  
Old 03-14-2013
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Re: West Marine no longer matching prices...

Quote:
Originally Posted by kellysails View Post
If you look at their financial reports over the last few years, WM is doing quite well. Annual 10K's. Pretty shocked at the gross margins (very good), maybe not so shocked when you realize what they charge. Looks like a well run company on the upward swing. It would be nice if they would share some of their success with their customers a bit more.

WMAR SEC Filings | West Marine, Inc. Stock - Yahoo! Finance

But they do share their success. They are a sucessful company who continues to employee people and is still hiring.

You want to share their financial success. You can be a stock holder. Nothing is preventing you.

They arent a monopoly, but they are the only marine multi state store left with over 20 brick and mortor stores. Their business model is sound and successfull
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  #83  
Old 03-14-2013
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Re: West Marine no longer matching prices...

In sharing success, I mean better prices for their customers, the "Amazon" model.

I wonder how many stores they have, there have eight just in Seattle area. There is value in the convenience model for sure. They are VERY proud of their convenience strategy it seems
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  #84  
Old 03-14-2013
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Re: West Marine no longer matching prices...

Quote:
Originally Posted by chef2sail View Post
This may come as a shock to you. Most Sailnet readers probably aren't cruisers.

Shock two .....most don't go offshore.

Neither makes that majority less than. I bet they spend more in the marine stores than the cruisers or offshore people. Sailors demographics make up many kinds of sailors, and all have boats they need to supply.

Shock three ..West Marine has a successful business plan and don't depend on your participation ( because you already don't obviously) and the meet the needs a lot of the of the average salor or thy wouldn't Ben successfully already

Shock four they aren't going out of business,

Their sales are far greater than all the others put together. So obviously they are meeting the needs of the majority of he sailors.

I do go offshore and do use Defender, and other Internet sites which by the way I have found great deals t. I also use West Marine when I need to. I hope they stay in business and keep the many sailing related people employed.

There is no comparing brick and mortor to mail order or Internet sales.


The only thing I'm shocked by is your extrapolation of my post.

I never implied SailNetters were cruisers, or go offshore, or that WM had a poor business plan, or that they may even go out of business (did I miss any?).

I posed a couple questions to the group. You too can answer them if you like?
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  #85  
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Re: West Marine no longer matching prices...

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Originally Posted by RocketScience View Post
Hmm...

I guess we all gotta ask ourselves one simple question; if WM was to indeed go out of business, would we internet savvy SailNetters really miss it?

Short of the rare, nuclear occasion, are there truly that many instances where you need to "have it" or "touch it," that day?....honestly?

Head offshore for a stint. You'll learn to grow uber patient with even the simplest of supplies.
Yes and right now. I just ran out of varnish, as I underestimated the amount I would need for my cockpit table. I need enough for at least one more coat and would like to do 3 more. With a min of 24 hours between coats, I don't want to wait for ground shipping. I launch one week from Monday!

I actually priced the varnish at all the online vendors and its within a couple of dollars. Some, by the way looked much cheaper, but they added the hazardous material fee at the checkout. Worse, to get it shipped by 2 day UPS was going to cost more than the varnish itself!!

I am going to stop in WM this weekend, when I'm commissioning and buy it off the shelf. I will pay absolutely whatever they are selling it for. No doubt.
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Re: West Marine no longer matching prices...

It is likely that some customers, within the 3% of those they price match, are still going to buy the product without the discount. Very likely.

They seem to be on top of this math and I'm sure have calculated that this will be a net positive. More profit on a few will make up for lost thin profit on the rest. Even if its breakeven, it makes sense, because you are dealing with your most profitable customers and not those that don't value what you are offering. They are not in business to be the price leader, so why cater to the customers that only value the price leader. Smart.
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  #87  
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Re: West Marine no longer matching prices...

Quote:
Originally Posted by kellysails View Post
In sharing success, I mean better prices for their customers, the "Amazon" model.

I wonder how many stores they have, there have eight just in Seattle area. There is value in the convenience model for sure. They are VERY proud of their convenience strategy it seems
320 stores
Sales $640 million

Buy their stock. Annother way of getting a discount
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  #88  
Old 03-14-2013
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Re: West Marine no longer matching prices...

Quote:
Originally Posted by Minnewaska View Post
I am going to stop in WM this weekend, when I'm commissioning and buy it off the shelf. I will pay absolutely whatever they are selling it for. No doubt.
Wow, a WM Gold Star customer. Who needs that silly Internetty anyway. Takes me back to the 90's when we had a budget surplus.

I can't help but start humming this song

Last edited by kellysails; 03-14-2013 at 06:24 PM.
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Re: West Marine no longer matching prices...

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Wow, a WM Gold Star customer. Who needs that silly Internetty anyway. Takes me back to the 90's when we had a budget surplus.
Not sure I get it. Am I not spending less with WM and getting it faster?
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  #90  
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Re: West Marine no longer matching prices...

Yeah, this particular use case does make sense for you, mostly poking fun, which fun.
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