The Evolving Independent Music Store – Part II

As I wrote last month’s article, Sam Ash had just announced the music store venture would be closing 16 store locations. That was certainly a shockwave, but it pales in comparison to the announcement that followed. Sam Ash has now reported it will be closing all 44 physical locations.

Readers of this column know the music retail business has only become harder and independent music stores must use unique tools to sustain any chance of growth. That is also true for independent bookstores. The model is not dead, but it’s not easy either. It takes a fair amount of hubris, as well as bold creativity to be able to tolerate the challenges an independent store faces today.

If you think back a few years, even Best Buy wanted in on the music gear action, and although Best Buy’s gear model was launched, it was eliminated within a year, and their music education attempt never got off the ground. By this point, perhaps we can all agree that the “big box” model has seen its heyday.

So, where does that leave independent music stores? The biggest challenge I see for today’s independent music stores is that to sustain success, you must have a unique hook. That is the only creative capital that will differentiate you, and that only gets harder as inflation keeps stealing our lunch money.

Is the internet the only road that lies ahead? I would say no because I still think unique retailers have a good run ahead of them, although I stress the word unique! An example of a model that I believe best represents the future of independent music stores is, oddly, a pre-loved record/book store in Nashville. The shop is called Grimey’s. Why is Grimey’s the model that I think works in today’s consumer experience? Let’s look under the hood. The first capital Grimey’s has is vibe, and it has tons of it. It also has specialized knowledge, and the shop is way cooler than a Barnes & Noble. It’s because of that vibe that Grimey’s attracts a very loyal following.

When new records are released, Grimey’s picks a hand full of high-profile artists with iconic album covers and paints the cover-art in a large format on their building. Grimey’s is constantly repainting the building as it changes out album covers monthly, or with special releases like Taylor Swift, or Kacey Musgraves. Both Swift and Musgraves also support Grimey’s, and on occasion pop in with surprise visits or hold record release events at the location.

Grimey’s first floor consists of pre-loved and new vinyl music; at the back of the room there is a cozy stage where shows by local artist, as well as high profile artists like Musgraves take place. But the “cool factor” doesn’t stop there. Downstairs at Grimey’s is a bookstore, besides unique new releases, many of the titles are unusual books that may be hard to find. Both floors have great music featured, and knowledgeable salespeople that are more than willing to help you navigate your way through the cool setup. I have no doubt David Sanborn leads their playlist this week.

So how does this all tie into the evolving model of independent music stores? The answer is simple. The market for the small box model isn’t changing; it has already changed. You can thank COVID, greed, or inflation. But the shiny big box model has not worked for a while, and selling gear as a small box isn’t enough to sustain the cost of running a shop as easily as it was, even just a few years ago. You need additional offerings in today’s market. Multiple layers of offerings are your best defense.

In today’s challenging marketplace, the new model has to have vibe, and lots of it. It must have “feel,” and it must have specialized knowledge. If just price alone still worked, the landscape for music retail would still be thriving, and that is not the case. So, the road for the independent music store model must be based on experience, and it can’t be typical. It must be uniquely creative, artful, and innovative. The good news is the unique business model is back in vogue; it’s appreciated and celebrated now more than ever. That’s right, we are going back in time. Aren’t you glad you kept your turntable?

So, when the kitchen sink is being thrown at you, it’s time to put on your tap shoes and show your customers you can also dance. Think of ways to differentiate yourself from others. Then all that is left to do is to hope that the customer recovers from the current inflation pressures and hopefully finds a way to rekindle their passion for music. It is our job to show them how!