Saturday, April 19
is Record Store Day. This annual
event happens on the third Saturday each April. On Record Store Day all of the
independently-owned record stores (1,500 in the U.S.) in the world come
together with artists to celebrate the art of music. Special vinyl and CD
releases and various promotional products are made exclusively for the day and
hundreds of artists across the globe make special appearances and performances.
Since 2007, Record Store Day has provided lists
of new and old releases, and specials at each store. Here is the full list for tomorrow's celebration.
Rock in’ Robin on
College Avenue and Bizarre Bazaar
on Linden have both signed the Record Store Day pledge which means
they have agreed to act in the spirit of Record Store Day, and sell the
commercial Record Store Day releases to their physical customers; not to gouge
them, or hold product back to sell them online. 
The newest record
store…
The newest record
store group, as far as I can see, is Rough
Trade, an independent UK record store that just opened its fourth store in
Brooklyn, NY.
The Record Store Industry total revenue for 2013 was
$2billion. Unfortunately, its annual grown is -7.4%. According
to the research firm, IBISWorld
, there are 4,031 record stores in the U.S. Over 1,500 of these are
independently-owned. Though the U.S. economy
is set to improve over the next five years, the Record Store Industry will not.
The usual competition from big-box stores and streaming music websites will
continue to dominate the market for music, with consumers placing an emphasis
on convenience and price. Some record stores will establish online storefronts
to supplement their revenue, but these factors will not stop the industry's
downward slide.
Is Record
Store Day a resurgence or a swan song? Is
there any hope for all those lovers of record stores?Well, First Research (a research product of D&B/Hoover’s/Mergent available free at the library) in its study of the Music Store Industry cites several opportunities the might keep the industry alive:
·
Develop your local music culture: By
supporting local groups and artists, small music stores can differentiate from
large chains and mass merchandisers, which typically focus on national best
sellers. Local groups can have cult-like followings with extremely loyal fans.
Relationships with local artists help small retailers establish a unique music
“culture” that large retailers have difficulty developing. By creating a sense
of community and becoming a destination establishment, independent music stores
can develop a competitive advantage.
·
Offer complementary products: Music stores can compensate for declining CD
sales by stocking complementary entertainment-related items, like DVDs, video
games, or books. DVD growth, while slowing in recent years, has been strong for
the last decade due to strong demand for TV-based DVDs. In addition, synergies
exist since many popular movies have accompanying soundtracks. In addition,
music stores can generate incremental sales by offering music-related
merchandise, such as t-shirts, posters, toys, instruments, and headphones.
·
Offer downloads
-
By offering websites or in-store stations that allow customers to download
music, music retailers can participate in the rapidly growing market for
digital downloads. For example, some independent music stores have banded
together to offer digital downloads through the Think Indie website,
which features store selected downloads as well as exclusive digital content.
·
Offer used
products - By stocking used CDs, DVDs, and vinyl
records, companies can create unique inventories and generate healthy profits.
Digital formats have almost eliminated the difference between new and pre-owned
CDs and DVDs. By facilitating the used product trade, companies can stock older
titles that may no longer be available through major labels and studios. Used
products generally have higher margins, since companies pay very little for
pre-owned merchandise. At the same time, music stores can still price used
merchandise at a substantial discount versus new, offering customers
significant savings.
·
Offer superior
customer service - Companies can meet the needs of true
music fans and better compete with alternative retailers by hiring
knowledgeable sales staff with a passion for music. Expert sales associates are
especially important for stores with a large used music trade or vintage stock.
Superior customer service is critical to attracting trendsetters interested in
discovering new artists. Make the record store a destination meeting place for
like-minded people.
For Rough Trade
record stores it’s all about the personality of the shop; assistants who
love, understand and want to share music, excellent in-store programming, an
active social media presence, an area to eat muffins, drink coffee, and read a
magazine; and books. Essentially, a record store where shopping is an event. Read more about Rough Trade Stores here
and here
According to Get It
On Vinyl blog, record stores have to also be a place where young people
want to hang out. What better place to tell young people about the new Cold War Kids album than at a record
store. How about some family friendly events? Advertise a few community
calendars and high school newspapers. Just get the young people in the door.
Get them listening, searching, discovering and most of all, experiencing why a
record store is so special.
Enjoy the first few
hours of Record Store Day by
tuning into the Grand Illusion
Friday night from 11:00 p.m. to 2:00
a.m. on 88.9 KRFC. Each Friday night, James and Kyle play an all
vinyl show with records they’ve picked up on their weekly jaunts through
northern Colorado record shops.
Enjoy Record Store Day and go buy some records!
