Having recently had to write a business plan for a (fictitious) photographic company, it's the overheads that are crippling. The high profile, high footfall area shops they occupy will be draining the cash out of them at a faster rate than they can get it back in sales. You only have to look at the recent business reports on Jessops to realise they are in dire straights.
They have to get the cash in somehow, and there's enough people out there who do not shop around before buying to be able to charge the prices they do.
As Mike says, eventually, there will not be the option to go into a shop and handle the goods before buying online.
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