After a grim decade for UK-based music and film retailer HMV, the brand celebrated its 100th anniversary last week with a much more positive outlook, announcing 10 new store openings this year. Canadian music retail executive Doug Putman, who saved the brand in 2019 after it fell into administration for the second time, is leading the return to the high street, buoyed by a firm belief in the power of physical retail. “People obviously love going out shopping, they like touching
uching and feeling and that’s something that online is not going to replace,” he told the BBC.
“I’m still very optimistic on the [HMV] business and business as a whole on the high street. I still think the high street is just something so special.”
The retailer currently has 107 stores including its flagship, The Vault in Birmingham, which is the world’s largest HMV, but Putman is on the hunt for a London flagship site to honour the birthplace of the brand.
While there’s no denying that streaming giants Netflix, Amazon Prime and Spotify continue to hold a firm grip on these markets, HMV is hopeful that consumers still have a space in their hearts, and wallets, for the humble music store.
“As an avid jazz collector who used to hang out in the record stores of Soho and HMV’s Oxford Street flagship every weekend back in the 1990s, it’s great to see the brand back,” Simon Stacey, creative director and studio head at YourStudio, told Inside Retail.
“But it’s a challenging sector … to compete they’ll need to ramp up their role as lifestyle destinations that provide the visceral connection to music that online streaming sites cannot.”
In-store entertainment
HMV’s comeback has been helped by a renewed consumer interest in vinyl, prompting the brand to expand its range significantly over the last two years; but its focus on live events is its point of difference against the big players, and is expected to drive the next phase of its bricks-and-mortar evolution.
Singer-songwriter Ed Sheeran will play a free concert for 700 people in the new HMV Empire in Coventry next month to celebrate the store opening and the brand’s 100th birthday.
The retailer is also hosting album launch shows by Maximo Park, Arlo Parks, Yungblud and Idles at select stores around the country, and is hosting in-store signings with singer Sam Smith.
HMV is also pushing store-based promotions and giveaways to drive customers back through the doors.
Its current ‘Shelfies’ giveaway invites customers to take a picture of something they love in-store and upload on social media with the hashtag #hmv100shelfies for a chance to win a $100 HMV gift card.
Redefining the record store
Stacey believes the brand needs to redefine the original ‘record store’ for the 21st-century shopper.
“[Record stores] were about ‘tribe building’ through collective passion and knowledge sharing, and full-on sensory enjoyment. This ‘tribe building’ is as important today as, beyond gigs, there aren’t many places for people with shared music passions to meet,” Stacey said.
He welcomes the idea of stores acting as places to gather and connect with artists and other fans, and discover new music through in-store broadcasting, events and workshops.
“Stores as portals for discovering music in the 21stC will also need to be as much about tech-amplified experiences and services – a complete integration of physical, digital and human experience that’s the basis for next-gen retail,” he said.
“HMV might want to benchmark their experience by asking, ‘what would a Spotify store do to innovate and inspire its captive online community in the physical space, underpinned with the strength of its algorithm and unrivalled access to data?’”
Tapping into vinyl
Vanessa Canceri, retail strategist and director at retail property consultancy We Wondr, believes the increasing popularity of vinyl can continue to work in HMV’s favour.
“Vinyl sales indicate there is something romantic about records. We want the slow satisfaction of opening the album jacket, studying the artwork, placing it carefully on the player and waiting for the crackle,” Canceri told Inside Retail.
“I liken this to book sales. While we love the convenience of our Kindle or Audiobook, we still love the slower tactile mode of a physical book.”
She points to global music brand Rough Trade as mastering the art of music retail.
“These are more than just retailers of vinyl, they are an independent record label with a history of signing underground bands like The Smiths, the Libertines and the Strokes.
“Their stores offer experiences. The New York store features a concert space that can host 300 people, a café, books, a bar and a listening room.”