The news that entertainment giant HMV had called in administrators for a second time in six years offered another indication of the pressures facing the high street, but could other retailers learn some lessons from HMV’s struggles? Is this simply a case of changing consumer buying habits in this digital age or could HMV have done more to help themselves? Waterstones face similar digital challenges selling books but have posted huge profits. So what are Waterstones doing right and HMV doing wrong?