A music shop slight reprise? And more vinyl? December 23, 2016Posted by WorldbyStorm in Uncategorized.
On the other hand. Seeing as I mentioned Team Rock this evening, in Dublin city this week I found that what had been HMV was now Golden Discs. And similarly in Cork some while back there was a Golden Discs shop. Apparently GD has undergone a near Lazarus like revival from its financial straits some time back.
The company hopes to be the last retailer standing as the market for ‘physical’ entertainment products finally bottoms-out following a dramatic decline since Napster went live at the turn of the millennium.
Given that there is now only Tower in a similar market space these days that’s not necessarily the greatest ambition. Beyond that what is there? Second hand stores like CEX etc?
And then there’s this:
“Our CD business is actually in growth. We are seeing huge growth on vinyl. Vinyl is something of a phenomenon at the moment. Vinyl sales in the last two years globally have more than doubled.”
Its new shops offer more floor space to vinyl and it’s no longer mainly “males in their 40s and 50s” who are picking them up.
The key market for the retro format in 2016 is 16-25 year olds who are likely to also be users of services like Spotify. In fact, studies have shown that streamers are much more likely to collect vinyl than those who do not use these services.
This is interesting:
The company does half of its turnover the fourth holiday quarter – gifting is one area where retailers like Golden Discs have a clear advantage over digital alternatives.
I’m not hugely surprised. Looking at the queues in shops of various sorts it’s not difficult to see how gifts must make up a massive part of all businesses business. Small wonder we’re seeing vinyl return.