I have way too many interests and they include: Photography, My 2014 Mustang, Military History, Strategy Games, Computer Devices, Science Fiction, Movie Buff, Bad Science Fiction Movies of all types, Military Strategy Game Collector, Nikon Film Camera Collector, WWI 1/144 scale Plane collector, Wings of Glory and more... :). Nikon NPS Member. Professional Photographer.
I don't like the one slide with the comment, "Strengthen China Business." I am the complete other end of the spectrum here. We recently purchased a Toaster Oven ... took it home, "Made in China"..... RETURNED TO STORE.
I am making a serious, serious effort to stop buy goods made in Communist China. If this is where Nikon is making their investment.... well, I will be purchasing less product. I don't care if I pay more. I do NOT want my money going to Communist China.
This is how I feel right now. I am surprised at Nikon a little bit.
There is going to be a huge economic fall out in the coming months and a lot of people want China to PAY! I am one of them.
OK, off my hate Commies rant....
The photography industry from my small perspective is in big trouble. I am hearing people are postponing weddings!! So, this is #1 photographer money maker.
There is no sports to speak of.
No one is thinking portraits.
So, what is left? Product Photography?
- with 10,000 hungry photographers who will be offering to pay, to get the work?
How is a high end, premium brand that charges top dollar going to sustain itself in a market place that has no disposable cash? Locally, I am seeing big chains selling off Easter Product that arrived by the boatload for an Easter than never happened for $1. The lines ups outside the stores were huge. The losses inside the store...equally huge. But what are you going to do with the product?
My daughters company.... you may have heard of it.... Hudson's Bay, has been giving things away to staff! Chocolates and other items that will be stale date and have no hope in selling. This is all profit out the window. I am sure the camera companies are sitting on full warehouses as well. Nikon just started a spring sale, but the discounts are nothing spectacular, which tells me the Captain hasn't gone below deck yet to look at the damage and water coming in!
So, it will speed up the Z line. That's nice. And.... sell it to whom? I wonder if Nikon realizes their trajectory is a downward one? Their sales and revenue contract every year, it is managed, they are financially in good shape, but their curve is not an upward curve! A controlled Shrinkage in all aspects of your business, from Market Share to Bottom line is not sustainable model of business in the long run.
I am not dumping on Nikon (I have been thinking about the industry for the last month or so), but I suspect Canon is having the same meeting, SONY, Olympus and Fuji, just to name a few. Everyone has the same plan selling to a market that primarily has gone to sleep for the foreseeable future. The companies that will still be floating will be the ones with other businesses to sustain them, namely, the fittest will be the ones who are the most diversified and can at the very least, break even with their bottom line and ride out the storm.
Lucky for Nikon, they are entering the storm with a PROFIT from operations last year. So, they are heading into the storm in a good position. That is the bright light in all this.
However, saying they are going to do all these great things to right the ship is a whole different story than fixing the gapping hole caused by the iceberg that is running from Stem to Stern. Unfortunately, I see a very dim future for the photography we have enjoyed the last 10 years or so.
I just visited our favorite restaurant last night for takeout. Maggie and I try to do this once a week in our neighborhood.
The owner was there cooking, looking tired, haggard and miserable. He had two locations. One closed. His "home base" location near us ....
The dine-in side had no tables or chairs. No idea what that is all about. I am hoping he is not going to be cut down to just the kitchen and take out. In his heyday, this guy was a renown chef. This virus-thing is really starting to piss me off. It has destroyed a number lives in many ways, and more to come.
Thank, everyone. Fun but short outing. I went out on purpose, hoping to find the more exotic birds at the park. I figured, with no people around, the park would be teaming with them. Nothing. Just a cormorant and the egret.
Lucky day. All you need is ONE good image and it makes the trip and the couple of hours out well worth it. I have to admit, it is getting on my nerves being cooped up at home. We did gardening today. Generally, you can poke my eyes out with rusty nails, that is how much I enjoy working on the garden. I was nice to just be outside in some sunshine today.
Looks like next week, restrictions are going to ease up a bit. I think I will start stock piling some things because I feel we will hit another big wave later in the summer.
How are you guys doing? Hope everyone is faring well.
Went out to clear my head a bit, earlier today. Very overcast, slight drizzle. Perfect for Egrets!
It was so nice to get out with my gear again! Went to High Park. It has been closed for weeks. Also, you cannot park at the park, just walk. So, had to park on the side streets and walk. Well worth it today!!
Over the years, I have brought them $1,000's of dollars in sales and lots of referrals as well. They are a good outfit, I have nothing negative over the years to say about them. I am sorry they are in financial trouble.
I am not really sure 100% where this will lead. 1/4 of the stores closing...roughly and they are getting protection from creditors, I guess. I have lost touch with corporation laws over the years.
This is also bad on other levels. This is Nikon Canada's biggest customer!!! If they do go down, what ever Accounts Payable they owe to Nikon is GONE!
Also, if they stay afloat, things don't necessarily get easier.
The COVID thing has killed PHOTOGRAPHY!
So, even if they stayed open, NO SALES because no one is making any money. What would you possibly buy and why would you? No return on investment.
When it all comes back to "normal", no JOBS, no income, no spending money.