More thoughts on HMV

hmv is built on the passion of our colleagues. We are sorry to have to say goodbye to some amazing people today. Thank you for your hard work and dedication over the years. We will miss you pic.twitter.com/8KbhIQ1Gyb

— hmv (@hmvtweets) February 5, 2019

With yesterdays news about HMV still ringing in my ears, I've had some further thoughts about the situation.

Whereas in the past, youths were probably the largest demographic buying music from shops, I think it's people of my age (40+) that hold all the cards for HMV.

I don't imagine that new owner, Sunrise Records plans to splash the cash on every store interior immediately but it's clear that the business model needs to change, otherwise they'll be in danger of the same fate again.

Let's breakdown the age demographics, as how I see them.

25 and below.  They mainly stream music - either directly from subscription services such as Spotify and iTunes (or illegal sources).  It's doubtful that many would be as interested in purchasing CD's or vinyl, or DVD's and Blurays for that matter.  Everyone has a Netflix account or knows of a website that streams films.  Don't neglect this age-group - but also don't imagine that they'll be a huge money-spinner in-store either.  Keep an eye on youth trends and perhaps find a completely different product to get them through the door.

25-35.  Musical tastes have changed.  Not afraid of physical formats, even vinyl.

35-50.  The 80s was such a memorable decade and quite often, nostalgia has a huge role in musical tastes and purchases.  Some remember vinyl very fondly and began collecting all over again. There are lot of passionate music geeks like myself.  We remember what we liked about the record shops of our youth, we were probably just recently looking through that racks in charity shops for a vintage find  - much of what made record shops so good was the simple things, but getting your stock right is so very important.

50+.  Mature, often brilliant musical knowledge.  Not necessarily fussed about flash displays and interiors.  Plenty of music geeks.

I realise that's a simplistic and possibly a little bit insulting run through the age demographics, but there is some truth there.  Of course, I'm not speaking on behalf of everyone.

My followers on social media are largely my age and we LOVE physical formats, we love our collections and we love the experience of shopping.  We remember the days of browsing through racks of records very fondly.

We often post pictures of our collections on Instagram because we're excited and proud of them.  This interaction starts some really great conversations with others and that's when you very clearly witness the enthusiasm that people still have.

HMV - it's not over.

Use this opportunity to truly understand what customers want.  Don't be lazy and carry on as usual.  No more tacky neon sale signs as that cheapens the experience. We love a bargain but don't want to feel like HMV has become a discount warehouse - so find a middle ground, where prices are fair ...and that no doubt involves lots of discussions with industry stakeholders, so make some calls and get the appointments sorted now.

Make clearly thought-out, sensible changes and for gods sake, speak to your often wonderful staff, as I bet they have some great ideas as most of them are geeks like me.

The fall and rise of high street record shops

I'm very happy that HMV has found a buyer after a very difficult few years of ups and downs.  Some people are quick to dismiss the brand but I prefer to be hopeful about its future.

When I think of record shops from my younger days, my mind is filled with great memories of browsing through the racks.  Although I'd regularly buy music magazines, I wasn't always aware of the current releases, so I'd often find records that I didn't know were out and there was a true joy in that moment of surprise.

In 2019, we don't experience the element of surprise and joy of waiting very often.  We're living in an age where everything is instantaneous, so much so that you don't even need to leave your own bed to buy music.

In the eighties and nineties, I would spend entire days visiting record shops, often by myself.  It was one of the few solitary acts that I really enjoyed. (Stop it, gutter minds) There were no distractions, no chit-chat, other than the interactions with the record shop staff.  It is a far more rewarding activity than just clicking a button on a computer.

As much as I enjoy our online world, there is absolutely a place for record shops on the high streets in 2019.  I'll tell you why and what I, a customer, would do.  Please note that my comments are not necessarily about HMV.  They're just general comments about the industry as a whole.

Communities
There is definitely a community of vinyl loving people that's waiting to be tapped into.  Emphasis on the word 'community'.  When I'm in some independent shops, there is a level of care and genuine love for the products from both staff and customers, and it's rare to see such enthusiasm.  So, the question is, can HMV tap into those communities that already exist in the independent sector, and provide an environment where this community can flourish in an organic, not a 'forced' way?

Loyalty schemes are all very well but I don't necessarily think that's the best method for this industry.  Often, people can become cynical of these schemes. I know I am.

What are the kind of events that people would come to?

In-store promotions and signing events are great but not all shops can support those.  Time to get our thinking caps on?  How do you engage with those communities to keep them coming back for more?

There's a very big geek (I mean that in the best possible way) community here that is ripe for the taking.  Learn about the geeks.  They LOVE their collections.  These are proud people.

Make record shops hang-outs and the people will come and chat with others (not me obviously, I'm too miserable)... and stay...and PAY.

In-store design
For me, the best record shops are not necessarily the most shiny, neon lit, sterile disco spaces. I'm often shocked at how bad the lay-out can be.  I don't necessarily think that every store in a chain should look or have the same layout.  That might be part of the problem.

The shops with larger spaces need to think about how to utilise their assets.  Perhaps the introduction of a cafe, with sofas where people can take a break and consider their purchases?  Not overly designed but relaxed, chilled out spaces?  Just an idea.

I like the idea of bringing listening posts back, but with a twist. Maybe a place where you sit with a coffee and plug you headphones into a display and hear a curated selection, partly chosen by store workers who know their stock and understand their local customers?  Something along those lines to get people in to buy a coffee, to listen to a few tracks and become informed about artists and the stock that's in-store.  Coffee culture is huge.  Coffee and music go very well together.  Communities and coffee and music - sounds good, huh?

There's also a joy in browsing - how can we make browsing better? Some of the display units aren't particularly great for fumbling through - we've all seen products packed in too tightly.  Truly understand the joy of browsing and the experience for customers.  Rows of CD shelves, marked into genres are frankly just not enough.  What can improve that experience?

Just because you're a chain, it doesn't mean that you can't focus on the local needs of a community.  Adapt to meet those needs.

Vinyl
So many people who experienced vinyl first time round have returned to their former love.  It's fine to have a few racks of vinyl, but it's often not enough and I think HMV should consider expanding this area to become like the record shops of by-gone days.  Make it a better experience by tapping into some of those memories from the past.  One of the joys of vinyl is being able to hold it in your hand and to appreciate the artistry.

The collectors - Reissues and special editions
There is a huge market for collectors editions and reissues. The supermarket 'Sainsburys' has successfully created a limited edition vinyl series, but equally they've also managed to piss off many customers as availability is hard and typically, many people buy to sell on eBay. I love a reissue like the next person, but there are better ways to do this.

Price
In 2019, we need to get real about prices. So many items are vastly overpriced.  Get your price right!

Know your competitors, know your customers
Really know your competitors. Know what works for them and don't necessarily try to emulate it, try to do better.

Really understand what the buying public want and expect. We want variety AND value for money. Don't ever lose those facts.  Record shops shouldn't be about bright lights and flashy displays and installations; it's the products that get people through the door.  Quality products and price all the way.

Sales are great, but for me, constantly seeing bright and brash 'sale' stickers everywhere (not just during the seasonal sale periods) is incredibly off-putting.  It's tacky.  How about getting your prices right in the first place?


In summary, things are looking up for HMV and I'm very happy that the UK has retained a nationwide, iconic brand.  This time, I hope they really get it right because aside from the fantastic independent stores, supermarkets would then be the only other high-street source for physical items ....and that would be very sad indeed. See Resources.