Grassroots support, vinyl resurgence popularity and unique in-store experiences

12 March 2024 - Press release

Grassroots support, vinyl resurgence popularity and unique in-store experiences: These 3 things are huge contributors to recent indie record store success

Comments by Lawrence Montgomery, Managing Director at Rough Trade

 

“A recent report revealed that the number of independent record stores in the UK has reached a 10-year high, with 461 stores located across the country in 2023, compared to 2014’s 339. 

“Despite the shrinking physical music market, indie music stores have increased their share of sales.  

“The report attributes this success to music streaming, which accounts for 84 percent of music industry revenue, the vinyl and CD revival due to surging sales, and Record Store Day, which is celebrated around the world.  

“But what are other key factors behind the ongoing success of independent music retailers and vinyl? 

 

#1 Grassroots music venue protection efforts  

“15.7 percent of independent music venues closed in 2023, and this ongoing threat has raised awareness around struggling venues across the UK that are in desperate need of funding and investment.  

“These venues are essential springboards for emerging artists to showcase their talent and establish a fan base, and the ongoing efforts to protect them are encouraging music lovers to explore new and diverse genres and support local acts.  

“Despite being an independent record store, Rough Trade is also an event space, and we have hosted over 800 events at our East and West London locations, as well as in Nottingham and Bristol. 

“This ripple effect extends to independent music retailers, increasing their customer base and foot traffic.  

“Rough Trade welcomed over one million people into our stores in 2023, an increase of 12 percent compared to 2022. 

 

#2 Mainstream artists return to vinyl releases  

“Popular artists have begun releasing music on vinyl and CD again, introducing a whole new type of customer to consider indie music retailers. 

“Household names like Taylor Swift and Olivia Rodrigo now release new music in these retro formats to broaden their appeal and expand their listeners, which has driven sales for smaller retailers, with the former having the best-selling vinyl album of 2023.  

“New success for older artists like Kate Bush and Sophie Ellis-Bextor has also encouraged artists to re-release their music on limited edition pressings, which drive sales from collectible enthusiasts.  

“In addition to the success of these mainstream contemporary and catalogue artists, we are also seeing a lot of exciting, new pop acts find their audience. 

“Acts such as Allie X, Laufey and Raye have all established significant audiences in recent months and years and although they have a pop sound, the connection to their audience and their promotion and marketing is very much aligned to our history and ethos. 

“This has revitalised interest in physical music collecting and increased demand for records and CDs.  

 

#3 Unique in-store shopping experiences  

“Record stores offer customer service above and beyond that of larger high-street retailers, and they offer a more personalised and intimate in-store experience.  

“Independent stores have become more than just a retail environment; they have become communal spaces for like-minded individuals to meet and converse about a shared niche passion.  

“Post-pandemic, we have recognized that people want to get out of their homes and away from screens to shop, and many of our customers enjoy the act of browsing music and discovering new artists in a traditionally authentic fashion and setting.  

“Already we are seeing smaller artists are more popular among our consumer base. In 2024 so far, breakthrough British band The Last Dinner Party’s ‘Prelude to Ecstasy’ has been the number one selling album across our UK stores, selling over 5000 records to date. 

“This is closely followed by IDLES’ ‘TANGK,’ which has sold over 4000 records, and Irish Post-Punk band SPRINTS’ ‘Letter To Self,’ selling close to 3000. 

“It is wonderful to see new and returning acts leading the way in our bestsellers in 2024 and demonstrates what vibrancy there is in the British and Irish music scenes.”