Music Retail: Hit or Flop? - Three Success Stories From the U.S.
- ID: 357210
- October 2006
- Region: United States
- 15 Pages
The collapse of Tower Records this month sent shock waves through the music industry. Elsewhere, UK-based HMV has been struggling for some months to find a strategy capable of delivering sustainable growth. Previously recognised as strategically challenged, it now seems as though the music retail sector is lost without a compass.
But surely it can’t all be bad news? After all, even in a distressed sector there are often pockets of excellence – companies that are doing well and whose success formula contains important lessons.
To find such companies and identify what can be learnt from their success, we looked at the other end of the music retail spectrum and talked to three indie music retailers in the U.S. who are not only doing well, but are thriving.
This report pinpoints the retail formula which is behind their success. The report not only clearly demonstrates how music retail can still be successful – and how it can remain a viable business – but also provides valuable lessons for those setting up online music ventures, be they based on music discovery, community or retail.
This report contains information supplied via interviews with three U.S. based independent music retailers (Grimey’s, Criminal Records, Luna Music) and the National Association of Recording Merchandisers (NARM), the U.S. trade association which serves U.S. music retailers.
- Profile 1: Grimey's
- Profile 2: Criminal Records
- Profile 3: Luna Music Competitive Positioning
- Lessons for Online Music Providers
- Lessons for Music Retailers
Locations and Stocking Strategy
EVOLUTION TO DIGITAL
Replicating a Successful Indie Retail Model Online
The Value of Human Interaction
LESSONS FOR VOLUME MUSIC RETAILERS