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Whatâ€™s up with WEX?

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Posted by Eric: Sat Mar 10th, 2018 10:11

1^st Post

Of little interest outside the UK but it seems to me that the amalgamation of Calumet and WEX is having a negative impact on the formerly competitive WEX.

I know they have come under some criticism for failing to deliver to the Highlands in the past but I have always had good service from WEX ....their showroom conveniently situated only 40miles from me.

Well that's changed!

Their PX offers have become inferior to other UK camera dealers and their prices are now across the board higher than the main players.

I had price match requests rejected on equipment costing several £000 this week, on the grounds their margins prevented it.

My annoyance reached a peak today as I wanted to buy an item costing £439. I pointed out that everyone else in the UK was selling it for £429 and would they do it at that price? After several minutes debate with his supervisor the sales guy said "NO".

Now £10 on this size purchase is in all honesty, neither here nor there to me, so you would have thought a multimillion pound business would recognise the importance of customer stroking over such a small amount.

What REALLY got up my snout was the reasoning that they couldn't drop the price or they "wouldn't make anything on the sale".

I laughed at his comment and said "if you're margins are so small WEX are in a worse financial state than I imagined"

I went ahead with the purchase because unfortunately I had a £300credit on my WEX account from a previous px sale that I wanted to clear.

Having achieved that, I am afraid they won't be getting anymore business from me. I may use their showroom to try out items but will buy elsewhere.

Clearly the business model of their new merged company is out of kilter with other UK retailers.

o.O

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Eric

Posted by Robert: Sat Mar 10th, 2018 18:51

2^nd Post

Doesn't really surprise me, bean counters hard at work trying to justly their existence but they will be down the road with all the rest on the day of reckoning, just like Carillion, which grew too big for it's boots. The bean counters were the problem there too, they couldn't count right.

A business like Calumet-Wex need to be nurturing it's customers, not treating them like fools. There are still plenty other places to buy Nikon gear besides there. Grays anybody? ;-)

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Robert.

Posted by Eric: Sat Mar 10th, 2018 19:06

3^rd Post

Robert wrote:
Doesn't really surprise me, bean counters hard at work trying to justly their existence but they will be down the road with all the rest on the day of reckoning, just like Carillion, which grew too big for it's boots. The bean counters were the problem there too, they couldn't count right.

A business like Calumet-Wex need to be nurturing it's customers, not treating them like fools. There are still plenty other places to buy Nikon gear besides there. Grays anybody? ;-)

Yes indeed and also...
Park Cameras, Dale Photographic, Mathers, Harrison's, Mifsud...to name just a few. All offering better prices and all from whom I've bought (don't tell the wife) over the years without complaint. It's so annoying when a company so local, becomes so unusable.

____________________
Eric

Posted by jk: Sun Mar 11th, 2018 05:23

4^th Post

This is a very insightful saying from Lord Campbell of Eskan.

Something to Remember.

Act in the belief that business could not possibly just be about making money if only because that would be soul-destroyingly boring.
Business has to be about making the lives of people better and more fulfilled.
People in any case always came first, however you need to consider what you are trying to do in business.

You have a fourfold responsibility; to people, to shareholders, to employees, to customers and to the community of people in which the business is operated and found its meaning.

Creating profit is vital, but not just for its own sake, but for good, everyday, ordinarily human, immediately flesh and blood, life-enhancing purposes.

From Sir Jock Campbell.

Current business thinking forgets the reason for busness! It is not about money and profit but about trading goods and service. Profit is incidental.

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Still learning after all these years!
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Posted by Iain: Sun Mar 11th, 2018 15:40

5^th Post

I've noticed the same thing Eric as I asked for a PX price on a lens. They were £30 less than MPB offered me for the same lens and the price for the lens I was buying was £10 more as well.

Posted by Graham Whistler: Sun Mar 11th, 2018 18:49

6^th Post

I use London Camera Exchange and have had many years good service from them with fair prices and good trade in deals.

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Graham Whistler

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