No Physical Store, Gateway Offer Online Sales
Gateway Systems will be closing the G-Wiz physical store as of April 27th saying it “no longer fits with our strategy”, with the company confirming that the change will not result in any job losses.
Managing Director John Kyle stated, “As we continue to expand our core ICT consulting and services business, particularly in the areas of privacy and cybersecurity, operating a retail storefront no longer fits with our strategy.
“Therefore, we will be closing the G-Wiz physical store this month, but the public will still be able to see products at our Web facing virtual store, at www.gwiz.bm.
“We will continue to service our corporate clients with products and services from our location at Queen Street and of course, honour any existing consumer warranties in place through our service department.”
Mr. Kyle, added, “We would sincerely like to thank all of our G-Wiz store customers and clients and have greatly appreciated their business over the years.”
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Sad to see them go. Why would anyone want to be in retail when it comes to electronics and computers. With government imposed import duty of 25-35% on these items it is just insane to think anyone should risk importing electronics and computers (that quickly become outdated) be expected to pay 25-35% import duty, plus 2% wharfage tax, shipping and hope to sell it before prices drop or a new model comes out. Retailers must – by law pay insurance, social insurance, payroll tax and more. In addition there are wages, rent electricity etc.
Makes much more sense selling software which is download or imported at 0% duty and purchased and downloaded only when needed. Servers are usually overseas, software engineers can work from abroad, and support often comes from overseas. All done without paying a penny to government. Cha-ching!
Thanks PLP. Thanks for raising payroll tax at a time when retailers needed a break. Thanks for not lowering import duty like you promised to help drive sales.
At the moment an individual or person working from home can import and sell the same products at the same import duty as a business without having to pay ANY OF THE TAXES. How can they compete. The PLP should have lowered import duty for business with retail stores and raised import duties for non-registered businesses.
More to come, I hear.