is threatened with closure, it causes my blood to run cold. I get this impression of multiple shops closing and hundreds of jobs going. There has been talk of chains like House of Fraser closing many of its stores and it seems like, although most are still open, there might be some problems ahead. We can say the same of Marks & Spencer, Debenhams and other chains. Supermarkets like Tesco are cutting people and it seems like the high-street is fading before our eyes. I walk around various towns and villages and you see all these shops boarded up. It is sad to see this happen and you know, as soon as another business fills the space, their time is limited and uncertain. I cannot imagine a high-street vista without HMV being in it. HMV has been a part of my life since I was a child and it was great, in the 1990s, having a choice of record shops. I recall growing up somewhere that had an HMV and an Our Price and one could brose both shops and ensure they got what they needed. This was back at a time when cassettes, C.D.s and vinyl were big; when there was a big appetite for physical music and we did not have streaming services. Now that the landscape has changed and we are all digested music/film online, HMV has been threatened and struggled to keep up with the competition.
One of the biggest problems with the company is the fact that its model and look is very similar to how it was years ago. Services like Spotify and Netflix have led to a decline in the popularity of DVDs and C.D.s. More of us are streaming T.V. shows and films so there is less of an appetite for physical purchases. Although C.D.s still exist; many of us are streaming our music and it means fewer of us are walking through the doors of HMV. It saddened me to see HMV threatened and the fact is this: many of its stores are going to disappear and leave a black mark on the high-street. Not only do shops like HMV invite casual browsing and curiosity but it is often the only source of music (physical) for many people. A lot of us do not go to independent record shops and HMV is that all-under-one-roof emporium where you can get all your music needs and a whole lot more. Every popular shop that gets shut leaves a gap and it is sad we are so reliant on the Internet. Not only does one get to interact with knowledge staff members at somewhere like HMV but there is that chance to browse and actually look at products in the flesh. The Internet is fine but there is no social aspect and it can be a little boring scrolling through pages and not actually looking for music in a real shop.
“The new owner of HMV is hoping to reopen the chain’s flagship store on Oxford Street, and is in talks with landlords on the rest of the 27 outlets which closed down earlier this week.
That flagship store on Oxford Street is an institution and essential for London. There are not many big HMV stores in the capital and it is in a perfect location. It is set on three floors and has a whole range of C.D.s, DVDs; T-shirts, merchandise and vinyl. I hope Putman and his team can find the money to keep this store alive and make sure the rest (threatened with closure) are saved.
“But the site is expensive – rent on the Oxford Street store is £3.2m a year, and the rates bill is £1.4m, according to HMV’s former owner, Hilco.
The stores will “double down” on vinyl, not just because he is now a self-confessed vinyl nut – he owns four record players – but because it’s what shoppers are asking for”.
One of the big criticisms that came out of the news HMV might cease trading was the slightly generic and old-fashioned look. Many people walk into HMV and they are greeted with DVDs rather than music. I can understand people love DVDs and there is that demand but HMV was set up because of the music – the logo sports a dog listening to a record on a gramophone!
He wants to move vinyl records racks to the front of shops – as in his Sunrise stores in Canada.
Can he raise vinyl sales which are estimated to be less than 10 per cent of HMV's turnover? 'I think we can get vinyl to close to 30 per cent,' he says”.
Putman’s aims seem to be three-fold. He wants to keep all stores open and protect jobs; he wants to keep DVDs and merchandise but put vinyl at the front. He also wants to ensure the chain is making a profit by the end of the year. He has plenty of passion and ambition; a lot of money to get the chain back on its feet and almost start from scratch. HMV is in a rare position where it is almost alone in regards the bigger music chains. It can organise itself so the bulk of the stores have vinyl at the very core. When you walk in, you see all these organised and categorised shelves of vinyl and, at the sides, you can get your DVDs, C.D.s and other bits. I think there are some great independent record shops that are definitely worth a visit but many of them are quite small and crowded.
You can get a few records you want but the choice is not always there. I have seen HMV increase its stock of records but there remains an issue: the high prices and the lack of cheaper options. Maybe it is fair enough paying twenty-five quid for a double-album or slightly less for a new album but can we be expected to shell out twenty pounds for a single album that is a few years old?! I know vinyl production is expensive but there is a way to cap prices and provide greater value and still be in profit. Even if most records were fifteen quid then that would entice more people in. I think a lot of people are put off buying records because they are more expensive than streaming services. I wonder whether Putman has a pricing strategy and whether his profit forecast takes in the current price of vinyl. If HMV were stoked with a huge range of vinyl and they provided this complete experience – ensuring people did not need to go online to find what they want – then there could be this huge boom. Keeping the prices lower and more accessible means younger listeners would be tempted to browse and you’d get these impulse purchases. Maybe there should be loyalty schemes where members could get discounts or there could be a promotional deal where you could get three records for, say, forty pounds.
Most of us dream of owning a record shop and we often have idea of what the place will look like and the range of records that will be included. I hope Putman is true to his word and looks at some of the most successful independent shops, like Resident in Brighton, and sees how they do things. I think you can bring the charm and familial aspect of an independent to a chain. The reason I love Resident is the fact it lists its vinyl by category and has C.D.s too; there are music books and you can get more obscure records and singles. That might be racing ahead but I think HMV, now that it seems safer, has a chance to not only get into profit but actually re-establish its crown as the king of the high-street. We need a stable chain that can exist in various towns and cities so, if people want, they can get out and buy music. The Internet is important but it cannot be everything – we still need shops to exist. I am glad there is this music-loving owner who is putting music above profit and his own ends. Putman will look out for the consumer and staff members; he knows how important it is for HMV to exist and I am pleased he is fighting to keep all stores open.
“'The younger people are seeing the older ones buy it so it's cool, it's hip. When we grew up we had cards, we had vinyl, there was lots to collect. I think you are seeing a generation that never really collected anything, but want to'”.