How Record Store Day helped reinvent the indie retailer
Posted on in Cycles News
As preparations got underway for the 11th annual Record Store Day last weekend, CEO of the Entertainment Retailers Association (ERA) Kim Bayley took the time to reflect on the impact the day has had on the sector and how much it has grown in the last decade.
As Bayley describes the issues that were facing the independent record stores back in 2008 it's easy to spot similarities to the issues facing the bike trade today.
"From the perspective of 2018, it is easy to take it all for granted - a high-profile ambassador in Rag ‘n' Bone Man, sponsors in the shape of Fred Perry, Friels, Sound Performance and Rega and 240 stores participating - but that is to forget the state of the music industry in 2008 when it all began." Says Bayley.
"There were many who felt it was all over. The UK industry was well-off its 2001 peak. Zavvi (previously Virgin Megastores) and Woolworths closed that year. When even big companies like these were closing, it was no wonder that indie stores were collapsing by the day.
"Historically the balance-of-power in the music industry had always been in favour of record companies. Their control over content meant retail had a dependent relationship on their suppliers and had come to expect record companies to have the answer to every problem.
"In 2008 it was clear record companies were running out of answers. Their attempts to launch their own digital services and their attempts to sue their way out of piracy had all failed. While the iTunes store was growing, streaming had yet to be launched. There was a vacuum of initiative.
"It was that vacuum which Record Store Day filled. Rather than waiting for record companies to solve their problems for them, independent retailers led by Michael Kurtz in the US and Spencer Hickman in the UK decided to do it for themselves."
Independent retailers in 2018 are up against competition from e-commerce giants selling the same products and brands at knock down prices. But for the music trade, despite Spotify, Apple and the like offering streamed music at a fraction of the cost, vinyl is in the midst of a massive resurgence - thanks to Record Store Day. So can the bike trade reap the same benefits when it celebrates Local Bike Shop Day later in the year?
Bayley says that one of the main reasons Record Store Day is now a huge success is because it was the retailers themselves who took control and made the day what they wanted it to be.
"The long-term significance of Record Store Day was that it demonstrated the value of retailers taking control of their own destiny. It is still owned and controlled by indie retailers, but we [ERA] identified very early on that it was something we should encourage and nurture."The annual celebration provides ‘a platform to really celebrate what sets them apart’ for the bigger national retailers."
"Record Store Day is the gift that keeps on giving. It has provided a focus for the vinyl revival, it has led to a resurgence in independent record shops numbers and it has given a renewed sense of purpose to the entertainment retailing sector in general and ERA in particular."
Today Record Store Day is not just about having new releases or exclusive limited edition records available, it's about celebrating what makes the independent dealer special.
Megan Page, the UK Coordinator for Record Store Day UK says that the annual celebration has given these smaller stores ‘a platform each year to really celebrate what sets them apart' from the bigger national retailers, namely ‘being the centre of their communities, specialist knowledge, personal service, individuality, and their dedication to championing local artists [and] labels and helping independent artists grow'.
This is one of the key areas where bike shops can take note. On October 6th 2018 IBDs are being encouraged to come together to celebrate what makes them special with Local Bike Shop Day. Show your customers why they should shop with you over the online retailers - run a demo day, organise a ride, have a bbq - whatever you can do to drive the customers in store on the day and hopefully keep them coming back for months to come...
"The mightiest oaks, as they say, grow from the smallest of acorns."
Local Bike Shop Day was inspired by the success of Record Store Day and the idea was put forward by Daniel Jones of Random Adventure, which specialises in putting on talks and events alongside local bike businesses. Talking about why he suggested the idea of Local Bike Shop Day, Jones said "I put on talks around Lancashire and partner with bike shops when doing so. I'm also a passionate cyclist, I love supporting my local shop and also as an inept mechanic, I really do rely on my shops to keep my bikes spinning. I want to keep my local bike shops running, I'm not expecting anything from this."
Since the idea was pitched just last month it has gained huge support from IBDs, suppliers, trade press and consumer magazines. More than 70 IBDs are already signed up to take part in the day and are being promoted to thousands of consumers on the ACT's consumer facing site - thecyclingexperts.co.uk/local-bike-shop-day
To get your business listed simply sign up here.
Over the coming months Jones is hoping to work closely with consumer magazines to promote the day to consumers and drive them into their local shop. Bike suppliers and manufacturers are also being encouraged to get involved by promoting the day to their customers or even providing dealers with exclusive products or offers on the day.
Let's all work together to make the first Local Bike Shop Day a success and who knows... maybe the bike trade will see a similar resurgence to Record Stores in a few years' time!
As Bayley says, "The mightiest oaks, as they say, grow from the smallest of acorns."