An Ultimatum For HMV: What They Can Learn From Record Shops To Survive

On Thursday, I shared on Twitter that I was pleased to have found The Beatles' Anthology 3 for a cool £1.50.

Stephen Wilkins, one of my followers, replied that it would've cost £34.99 new in HMV.

Surely not, I thought. Maybe he saw the vinyl version. But no. £35 bleedin pounds. 

Despite supermarkets such as Sainsburys no longer stocking CDs, HMV are hell bent on an almost Stalin-like expansion in the face of an ever-rapidly dwindling market, planning to open between 8 to 10 shops by the end of the year. Saved from the brink of administration two years ago, HMV will have to do things differently to avoid careering over that edge once again. 

HMV seems to be terribly optimistic about the future of physical music formats more than anybody else in the industry. Stocking a huge range of both new releases and older albums, it's seen off it's competitors to become the major entertainment supplier still holding a high street presence. Astutely, they rode the wave of the 'vinyl resurgence' in the past decade or so to maintain a steady influx of customers. Yet there are
many ways in which it seems HMV are doing the exact opposite of securing a long-term future. Forced accommodation of gimmicks such as colour vinyl, signed copies, and limited editions, constantly suffocating the manufacture of vinyl records with needless reissues, suggests the advent of vinyl records may be wearing off. By framing their customers as hipsters, into the alternative way of doing things, further secures the idea of buying actual copies of music as an unusual, old-fashioned and therefore potentially-uncool thing to do, compared to the strength of streaming, culture's number one form of media consumption. It is an obviously colossal business trying to persuade people who love records, and subsequently go to proper record shops, to shop with a colossal corporation rather than a personal, humble small business. 

Because of their regular frequent visits to proper record shops, this audience sees HMV as totally different in it's principles. It is the quintessential place to go in, have a look around, fine something nice - only to order it online for a fraction of the price. It is pointless using terminology of 'virtual record fairs', 'town halls', and 'crate-digging' to push themselves as well-stocked record fair, the kind of shop with passionate, intelligent, honest staff, when the only interaction you'll ever have is a nod to the security guard to convey you're not planning to nick anything and a few faint pleasantries with the cashier. They have taken so long to decide their target market is record-collecting music fans, but without actually getting to know them. Feigning independence has got them stuck in a serious rut. 

Pushing themselves as a record shop exactly demonstrates the futility of the 'value' new boss Doug Pitman wants to bring to the company. HMV seems desperate to rid themselves of an old image which arguably worked better for them - a bread-and-butter entertainment shop - into something completely esoteric, for the anorak, because the vast swath of the population no longer buys a physical copy of music to listen to. This is 'fandom' merchandise, where every HMV is stocked with posters, TV shirts, badges and more concerning the big hitting licensee of pop culture. And garish funko pops. Scaling these back, and focusing on the music, is a big step in ensuring you're not alienating your customers. Not recognizing a piece of merchandise of the hip thing reinforces HMV as a place for young people - the very audience who are the least likely to be customers. A wide age range buys LPs, but HMV seems to only care for the younger generations. 

Each shop boasts a wealth of records, but very often stock standard LPs, the big hitters most new collectors would want, yet at frankly extortionate prices. Though everything may be graded new, fair pricing makes or breaks any record shop. They may have finally backed the right horse with vinyl records, but the 'record revival' itself has been going on long enough that there isn't much in the way of 'new' to bring out regarding the classics - so why not dig for gold in the landscape of music produced today? Everybody already has the basic catalogue, those massive Greatest Hits albums already a market corned by Amazon - and 'special releases' leave the vast majority of record collectors online feeling cold. By

gaining some of the intel of what record collectors actually want - again, by improving the quality of your staff - you could effectively win back a large proportion of customers. Also, by pushing cheaply-produced, suitcase style players, they are effectively cutting potential record sales, as duped customers become underwhelmed with the poor sound quality for a product that isn't cheap in the first place. I did not know until recently of HMV stock is on consignment terms with it's distributors. It doesn't pay for anything until it is sold - essentially it's all 'on loan' until then. This just adds to it's credit, forcing to take more and more stock in the hope of some of it selling, resulting in a considerable amount of tat at silly prices. Taking on stock that actually belongs to them, and not a third party, would be a huge departure from their current model yet could work wonders. It needs gutso. 

We've all re-discovered over lockdown the importance of going out shopping and returning with a physical item; a time where you were forbidden from doing so. So, HMV, give the people physical items they will gladly to hand money over for. Grab customers by the shoulder and say, well, you haven't heard of this band, but you need to - the very thing record shops have always been held up for doing. Rather than stocking records everybody already has - or let alone anybody wants - how about pushing quality new stuff, with enthusiastic staff who enjoy music, bouncing with recommendations, favourites and good displays, put together with love and intelligence? Then you might just be still around for your next centenary.