Breaking news: WM acquired by private equity firm

[Bruce B]

I purchase project supplies at West Marine all of the time. They stock good quality wire, terminals, and plumbing things for my boat projects. Name brand parts that are of known quality and carry a guaranty. I admit that when I make bigger purchases like an autopilot, I ask them to match Defenders price. With the small pieces and parts I purchase for projects I simply pay what they ask. I will often walk the aisles and simply pick out what I need. If I make a mistake, I don't even need a receipt to make a return as they always associate my purchases with my West Marine Advantage number.
When we took delivery of our American Tug in Washington State, we shopped for all kinds of things at the West Marine store in Anacortes. One purchase was a Magma BBQ. The regulator supplied with the unit is acting up now and all I will have to do is walk into the West Marine in Middletown RI and they will be able to look up the transaction and hand me a new one.
Sure we could have saved money online but then we would be arguing about warranty with who?
No thanks..,
Bruce

 

[Bigsfish]

Bruce

I agree, saving a few dollars isn't as impotatas having a clean transaction and the follow up service. I'm willing to pay a little extra for the convienece.

 

[Nomad Willy]

Bruce,
Discount Marine was only a few hundred feet from your boat and you drove to Anacortes to shop for do-dads? That's brand loyalty. I suppose this thread is lebeled "Breaking News" for you. No need to cry now as you're a few thousand miles from LaConner.

 

[Bruce B]

Bruce,
Discount Marine was only a few hundred feet from your boat and you drove to Anacortes to shop for do-dads? That's brand loyalty. I suppose this thread is lebeled "Breaking News" for you. No need to cry now as you're a few thousand miles from LaConner.

We went into a place called Boaters Discount Center in La Conner, is this what you are talking about???
That place was a fun disaster but they had mostly used gear and a strange assortment of weird junk. Not much of what I was looking for at the time and no, we are not missing it.
Bruce

 

[Bay Pelican]

One of the problems that WM has is that online orders that delivered for store pickup don't accrue at all to the store sales numbers. If you order the item from the store itself, it does. From my limited experience, I've seen that this makes individual store managers less than enthusiastic.

Less than enthusiastic is polite. I have had run ins with the Michigan City Manager when I ordered online. My problem was the 27 mile drive to Michigan City to find they didn't have the item in stock. To avoid this I would order the item online.

The Michigan City store is now closed. The Michigan City marinas have almost 1,000 boats and are unable to keep a chandlery open. Local boat dealer has a few items. 65 miles to Chicago. Most items ordered online.

 

[CaptTom]

Wow. Glad there are still folks to whom money is no object. You're keeping those stores open for the rest of us!

Those higher prices you're paying for "service" are basically insurance. You're betting that you're going to return and exchange items in excess of the price difference you paid. The store is betting you won't.

I suspect the store is making the better bet here.

Most marine products are only manufactured by a few companies, so you don't have to sacrifice quality to buy on line. Sometimes returning a defective item is a hassle, sometimes it's not even worth it. But it happens so rarely that I'm better off saving the money up front.

I also buy at local, less expensive venues. The nearby commercial fishing supply house is usually much cheaper than WM, and both the staff and customers are helpful. Their only "fashion" items are Grunden's. Hamilton Marine is a bit of a drive, but worth the stop whenever I'm near one.

Sometimes, very rarely, WM has a fair price on something I need, and it's in stock. In that case, I'm happy to buy there, too.

 

[Bigsfish]

Capt T

Happy to help you out but no one like to overpay, some of us are willing to pay for the intangibles.

 

[Nomad Willy]

We went into a place called Boaters Discount Center in La Conner, is this what you are talking about???
That place was a fun disaster but they had mostly used gear and a strange assortment of weird junk. Not much of what I was looking for at the time and no, we are not missing it.
Bruce

Bruce,
Yes I gather you didn't like it. Most of the stuff is actually new and most is high quality .. like hose clamps. There is a big rats nest of junk out front. Mostly sad looking used up rubber duckies. I buy lots of plumbing, SS fasteners, elecrrical fittings and wire ect ect. Started shopping there years ago as it's the only place in town unless you include a small NAPA store. I consider them a good alternative and WM is too yachty for me. Went there yesterday though to shop for trlr boat rollers and they mostly had what I wanted and the young girl helping me was good to great.

 

[Seevee]

I purchase project supplies at West Marine all of the time. They stock good quality wire, terminals, and plumbing things for my boat projects. Name brand parts that are of known quality and carry a guaranty. I admit that when I make bigger purchases like an autopilot, I ask them to match Defenders price. With the small pieces and parts I purchase for projects I simply pay what they ask. I will often walk the aisles and simply pick out what I need. If I make a mistake, I don't even need a receipt to make a return as they always associate my purchases with my West Marine Advantage number.
When we took delivery of our American Tug in Washington State, we shopped for all kinds of things at the West Marine store in Anacortes. One purchase was a Magma BBQ. The regulator supplied with the unit is acting up now and all I will have to do is walk into the West Marine in Middletown RI and they will be able to look up the transaction and hand me a new one.
Sure we could have saved money online but then we would be arguing about warranty with who?
No thanks..,
Bruce

Bruce,

You don't have a warranty or return issue at Amazon. I probably return an item every month... never a hassle or even a question. But I'm buying from them several times a month, and it works great. But occasionally I want it NOW, not tomorrow and that's what WM and a few other mom and pop stores are for.

 

[Seevee]

Based on mbevins never buying clothes at WM, I have a general question.

What type things have various members here bought at WM? I must admit I've only purchased magazines there.

I buy a few parts, and stuff I want NOW. NEVER clothes.

 

[twistedtree]

I mostly buy parts and supplies, but we have bought housewares as well. I actually have bought clothes - shorts and shoes. The shorts didn't hold up well at all. The shoes were sperry or some such name brand that you can buy pretty much anywhere.

 

[tcpip95]

I am a master at online searching/shopping. If I'm looking to buy something, I know I'll find it out there online at the lowest price possible. I recently made two purchases and both of them were through West Marine. One was because they had the best price of anybody (Garmin echoCHIRP 74sv w/transducer) and the other was a new "must have" stereo receiver that simply wasn't available anywhere (Dual MGH37BT). The former was purchased on line, the latter was in the local store. I frankly have no idea how they got their hands on one, as it wasn't even available online.

WM price on the Garmin was on sale $300 cheaper than anywhere else in the world, plus I had some Rewards coupons that I could use to bring the cost even lower. The Dual was full price but again I had $20 Rewards coupons so that was $20 I saved - and they had it in stock.

 

[FF]

"But occasionally I want it NOW, not tomorrow and that's what WM and a few other mom and pop stores are for."

I think NOW is the most common reason for most folks.

 

[CaptTom]

WM price on the Garmin was on sale $300 cheaper than anywhere else in the world, plus I had some Rewards coupons that I could use to bring the cost even lower. The Dual was full price but again I had $20 Rewards coupons so that was $20 I saved - and they had it in stock.

Good point, which I'd forgotten. A WM salesman once told me the mark-up on electronics isn't anywhere near the rest of their products, and I've found they're often the best deal around, or at least very close, even compared to on-line.

 

[Gmarr]

The conversation is also reminding me of the buyouts and eventual scope changes of Eddie Bauer and Abercrombie and Fitch. Both "outdoors" stores and now both clothing retailers- A&F of course with the most dramatic switch. I'm having a deja Vu here that maybe West Marine turns into a "lifestyle" brand with marine related outdoors as it's core, and Port Supply as a wannabe amazon of the chandlery world with bricks and mortar where it makes sense. ..... An interesting ride for sure

 

[Steve]

A few years ago we were at the Wharf Marina in Orange Beach, Alabama the shower sump box pump went out on the boat. I took the long walk to West Marine's store, they didn't have one in stock but the Pensacola store did. One of their employees lived in Pensacola and was coming to work the afternoon shift they called her she picked up the pump and brought it to me at the marina on her way to work.
You can't beat that service, and I was passing through, not a regular customer of that WM store. I do shop the Houma, were I keep the boat, store regularly. They are not inexpensive, but, I can usually find what I need there and the staff is very helpful.

 

[friz]

I recall when West Marine bought EB Discount Marine. Had traded at EB for years, VA Beach and Jacksonville. Good retail selection. When West Marine took over I would guess the actual boating gear inventory was reduced by half and the clothing came in. Anyone remember the original Abercrombie & Fitch? Similar drill.
So fast forward to last month. Wanted an anchor ball day shape. Checked West Marine online and it said there were 2 in stock at their St. Augustine store. Okay, good excuse to drive to St. Augustine. Arrived at the store and asked the 2 grocery store clerks for the folding black plastic anchor ball day shape made by Plastimo. "you want plastic balls?" No, I want an anchor ball day shape! "Gee, I don't know what that is. How about you Jethro?" Well a lady appeared. I guessed her to be the manager. She said that the store did not carry them but she would order it on line for me. I told her the West Marine web site claimed there to be 2 in the store. She stated "well the web site is wrong." So I left in disgust and retired to the Tini Martini bar on the waterfront downtown. They still had martinis as advertised.

 

[Bigsfish]

Not knowing all the facts I would guess that the employees were at fault which goes back to the fact that employees can make or break a business. Having the capital to operate and the correct merchandise in stock are very important too.

 

[tcpip95]

I recall when West Marine bought EB Discount Marine. Had traded at EB for years, VA Beach and Jacksonville. Good retail selection. When West Marine took over I would guess the actual boating gear inventory was reduced by half and the clothing came in. Anyone remember the original Abercrombie & Fitch? Similar drill.
So fast forward to last month. Wanted an anchor ball day shape. Checked West Marine online and it said there were 2 in stock at their St. Augustine store. Okay, good excuse to drive to St. Augustine. Arrived at the store and asked the 2 grocery store clerks for the folding black plastic anchor ball day shape made by Plastimo. "you want plastic balls?" No, I want an anchor ball day shape! "Gee, I don't know what that is. How about you Jethro?" Well a lady appeared. I guessed her to be the manager. She said that the store did not carry them but she would order it on line for me. I told her the West Marine web site claimed there to be 2 in the store. She stated "well the web site is wrong." So I left in disgust and retired to the Tini Martini bar on the waterfront downtown. They still had martinis as advertised.

A lesson I learned is to not trust the webiste for "in stock" items at the local store. When I find something that is listed as in stock at the local store, I call them, give them the SKU, confirm that they indeed to have it in stock, give them my name, and ask them to hold it for me and I'll be there in about an hour. Never had a problem this way.

 

[LarryM]

A lesson I learned is to not trust the webiste for "in stock" items at the local store. When I find something that is listed as in stock at the local store, I call them, give them the SKU, confirm that they indeed to have it in stock, give them my name, and ask them to hold it for me and I'll be there in about an hour. Never had a problem this way.

+1 absolutely, and referencing the SKU (WM Model #) you always know what you are getting, regardless of whether the staff speaks fluent 'boat stuff' or not.

 

[Nomad Willy]

Tcpip wrote;
"I am a master at online searching/shopping. If I'm looking to buy something, I know I'll find it out there online at the lowest price possible."

After a time if I want a quality product it won't be availible. No one will stock anything but the cheapest merchandise.

 

[CDreamer]

We have two WM stores - they are about 30 miles apart. One is big and near all the marinas - it stays busy on weekends. The other is a dumpy little place, hard to get to, low foot traffic, low inventory levels and the minimal staff knows almost zero about boating. A lot of the stuff on the shelves is dusty. I'd bet the new investor closes it down.
About all I use the store for is stainless bolts & screws and maybe adhesives or a can of varnish. Think I bought some bulbs there last so I'm not keeping 'em in business. Electronics, foul weather gear, etc online - more for the selection than anything else. I do check WM's online store against Defender and others.
What I've noticed about the WM stores is that more and more they push "ski boat" stuff...inflatables, life jackets and as previously mentioned, lots of clothes and boat shoes. I don't know if they sell inflatable SUPs....(just kidding)
Obviously it's not trial and error for inventory.
I see a lot of WM dinghys around.

 

[psneeld]

Not all WMs are the same...

They do tailor a bit to what the area wants.

Some are heavy on paddle biards and kayaks, some on dingies, some on fishing gear, and clothing can be just a function of how busy the store is and clientele.

 

[BandB]

25% of West Marine's business is now in the non-core business. That is clothing, paddleboards, and other.

The approach recently has been toward the larger store which can have the boat supplies and the other items and toward having fewer stores. Consolidating in many areas two stores into one superstore. Their store count has actually decreased while they've been adding stores.

Now, I do see them having protected sales volume with that strategy, but don't see that they've protected margins at all. The fallacy in thinking sometimes is the attractiveness of markups on clothing. Well, there's also the seasonal mark-downs of clothing and closeouts and sales. In most clothing a very significant percentage is sold when a sale is running. Look at department stores in clothing and in things like linens.

Now, I definitely think that by adding space and items they can increase a store's sales volume. The challenge is to add without taking away from the backbone of your business and your purpose. The other challenge is to consolidate stores without taking away the convenience.

Another change has been their increase in pushing their online business. Still though I see that as needing a lot of refinement. Then there is the commercial side of things. They operate Port Supply as a separate business. Even the commercial web operation lacks the features of their retail. Seems that they could benefit by simplifying into one business with discounts available to those in the marine business. Yacht management companies are not looking for huge breaks in pricing and are happy even with 10% or 15%, just enough to give them a little profit on the item.

Then the issue of distribution centers. They have two today, east coast and west coast. Most large retailers have centers in each of their major market areas. A center in Rock Hill, SC isn't much benefit to their biggest market in Florida. You need to provide next day delivery to store. And you need accurate inventory systems updating daily.

It will be interesting to see what happens.

 

[BandB]

I see a lot of WM dinghys around.

But, some people don't want WM dinghy's. What if they sold a couple of name brands too? Defender has private label but they have six brands as well.

 

[CDreamer]

No question. I'm one of them.

 

[Nomad Willy]

CDreamer wrote;
"I see a lot of WM dinghys around."

That's one of the few things I've purchased at WM over $20.

 

[O C Diver]

I come from a retail store background. Had a scuba diving store for 20 years. Hard to compete against discounters for same merchandise. So I sold protected lines with quality, knowledge and service that my discount competitors couldn't match.

So you might think I'd support WM. Nope. The average store has salesmen not boaters. It's like buying a bicycle from a Walmart employee. Almost always, you will know more than they will. So the question then becomes, how much more am I willing to pay to have it today. I do buy some small stuff from them in Fort Myers to have it today. When it comes to the larger dollar items, I need to see all the options, not just the model WM is stocking. When in Maryland, I buy everything I can from the boatyard where I did my refit. Like the people and can usually get pricing competitive with online from them.

The biggest problem with companies that buy successful businesses is that most never understand what the original owner did to make the company successful. They view all businesses as merely buying and selling items.

Finally, getting really tired of WM focusing on house brand mediocrity, instead of carrying name brand.

Ted

 

[Bruce B]

I come from a retail store background. Had a scuba diving store for 20 years. Hard to compete against discounters for same merchandise. So I sold protected lines with quality, knowledge and service that my discount competitors couldn't match.

So you might think I'd support WM. Nope. The average store has salesmen not boaters. It's like buying bicycle from a Walmart employee. Almost always, you will know more than they will. So the question then becomes, how much more am I willing to pay to have it today. I do buy some small stuff from them in Fort Myers to have it today. When it comes to the larger dollar items, I need to see all the options, not just the model WM is stocking. When in Maryland, I buy everything I can from the boatyard where I did my refit. Like the people and can usually getting pricing competitive with online from them.

The biggest problem with companies that buy successful businesses is that most never understand what the original owner did to make the company successful. They view all businesses as merely buying and selling items.

Finally, getting really tired of WM focusing on house brand mediocrity, instead of carrying name brand.

Ted

Although I agree on the subject of the "house brand mentality" in reading this thread, I am becoming aware that all West Marine stores are created equal. In Newport RI (Middletown actually) I have found incredibly helpful, knowledgeable employees who come from the marine trade. I can always match price with Defender due to the proximity to the store and perhaps this explains my fondness for the company. By the way, when in Anacortes, we purchased a boat hook from West and it did not take much wrangling on my part to get the price I wanted.
For what it is worth, I purchase a lot from Defender directly too. They are an awesome company! If it has to be ordered then it is a toss up...
Bruce

 

[RT Firefly]

Greetings,
Mr. OC. "The biggest problem with companies that buy successful businesses is that most never understand what the original owner did to make the company successful." Exactly what happened to PMM (Passagemaker magazine) IMO. I was a subscriber from day one until Bill P. sold out to ?? (I can't even remember who) and the emphasis changed from boats like ours to the biggest, the best?? and the newest. I wouldn't even take a free copy now...