Two years ago, it looked like HMV was going to be wiped from the face of the UK retail market, with a high street collapse likely and its online presence on the brink.

The firm’s e-commerce site did take a drubbing in 2013, leaving a gap in the market which others were quick to fill. But now Retail Week reports that HMV is in the process of planning an online re-launch this year, with its sights set on enhancing its strengthened position in the industry even further.

Company spokesperson, Paul McGowan, was cautious about overhyping the return of HMV to the world of shopping online, but he did say that the market conditions are right for such a manoeuvre.

HMV’s website has been relegated to little more than a high profile music blog in the interim, but reports suggest that full e-commerce functions will be restored in the next few weeks. And the company is, in fact, offering safe shopping online to customers in Ireland, suggesting that it still has the necessary infrastructure to get this off the ground.

HMV’s return to form has been impressive, particularly since it now sells more physical music than online giant, Amazon. And although it had to close 100 high street stores following its near collapse two years ago, it has recently been growing its bricks and mortar presence again.

The company plans to offer any customer who purchases a physical CD the chance to get a free digital copy of the album as part of the purchase. And it is these kinds of multichannel innovations that could allow it to prosper at a time when the high street and e-commerce industries are being drawn closer together, as retailers seek to save the former and ensure ongoing growth in the latter.