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| Subject: Getting Real About a BIG DEAL Many Care About | |
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Author: Dennis S. Vogel |
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Date Posted: 20:19:21 11/06/10 Sat In reply to: Yeah Right 's message, "BIG DEAL! Who Cares?" on 19:43:55 11/06/10 Sat Hi Mr/Ms Right, For something that seems so unimportant to you, you spent your time posting your message. Whoever is part of market niche - old or young - is willing to pay money for something. In more economic terms, they exchange money for another value. My point - in using all of this space & these words - is people want & can afford what these stores offer. I resisted posting URLs for other articles in this thread, but now I will. Below the titles & URLs, I have some clips from the articles. How I Made It: Marc Weinstein, co-founder of retailer Amoeba Music www.latimes.com/business/la-fi-himi-amoeba-records-20101003,0,1929442,print.story "There were already five record stores on Telegraph, down from 10 in the 1980s. People thought we were crazy," Weinstein said. "But there was huge buzz about our store. When we opened, we did more than $10,000 in sales the first day." Metamorphosis: Independent to the core, Amoeba has survived the rise and fall of record-store chains such as Virgin Megastores, Tower Records and Sam Goody by cultivating the type of culture that Weinstein cut his teeth on 35 years ago. "When most of the chain stores moved into video displays that marketed the latest hits, we've been adamant that independent artists have equal standing next to major-label artists," he said. "We don't put up major label displays on the wall. We don't sell shelf space. Never have. Our customers know that." Another reason Amoeba has outlived its competitors is curated stock. While other record stores featured top-40 albums and a small back catalog, Weinstein and his partners kept thousands of titles flowing through their stores by mopping up estate sales and buying used records. To stock its Hollywood store for opening day, "we spent millions of dollars across the country buying up collections that had never been seen before," he said. "And we still do. People who love our store come in frequently just to see what's new." Annual sales are down 10% since the stores' peak a couple of years ago, to about $45 million this year from $50 million, Weinstein said. Much of the decline is at the Berkeley store, where students are more likely to hit online torrent sites for pirated music. But the L.A. store has seen no decline in sales, he said. A big reason for L.A.'s buoyancy is vinyl. The Hollywood store sells about 1,000 vinyl records a day. "Vinyl sales are so strong, it's making up for the decline in CD sales," Weinstein explained. Who's buying vinyl? Jazz collectors, DJs and, surprisingly, heavy-metal fans. "Many of them are 18 or younger," Weinstein said. "It's a very artifact-oriented crowd that's attracted to how these things looked and felt." At A Nashville Record Store, Mainstream Country Fights For Shelf Space www.npr.org/blogs/therecord/2010/11/02/130998948/at-a-nashville-record-store-mainstream-country-fights-for-shelf-space?ft=1&f=1039 (General manager of Grimey's New & Preloved Music Doyle) Davis says that, for the most part, mainstream country fans can still find current albums by Nashville stars at the local outlets of big-box stores like Wal-Mart, Target and Best Buy. My Commentary - I hope you don’t mind, but I’m listening to records now. Many Amoeba Music record buying customers are teenagers, not just older people. The lessons I want to pass along here are - Many people buy CDs &/or records, despite the abilities to copy music digitally, download it (legally or illegally) or copy it onto magnetic tapes. Despite massive competition from huge retailers, some small music shops are thriving & some of those shops sell records. Vinyl records haven't disappeared as some claimed they would. These specialty music retailers know their market niches well. They use their trade skill to provide what people value. Successful small music shop owners adjust to changing demand. Too many business owners refuse to change, then blame FICKLE consumers for store bankruptcies. Those business owners are fickle, not the consumers. These music shop owners have defined their business cultures which fit the social cultures of their market niches. They have an authenticity many big stores lack. They make their cultures part of their branded customer service, even without thinking in those terms. No matter how many big stores enter a market, there are apt to be some gaps in what they offer. As big retailers adjust, those gaps may grow, shrink, disappear & possibly reappear. Your success requires finding those gaps & the people (market niches) who want what big stores lack. Businesses depend on who, what, where, when & why questions. At least, determine these factors - Who wants what you can offer? What else do they do to satisfy their needs/desires? Where can you connect with those people? When do they want to receive your messages? When would they appreciate your messages & offers? When can they buy what you offer? Why do they want those products/services? How many of them are there? How much can they afford? How much are they willing to pay? How often they will buy? Yes, there are more factors to consider; other factors depend on specific situations. The factors above are what you should start with. After you succeed with those, we can evaluate your situation & find your specific factors. Yeah Right, Thank you for participating in this forum. I mean it sincerely. I just reject vulgarity. Dennis S. Vogel You can expect success when you use the right tactics & strategies for your market niche. Profitability requires planning the right actions or being lucky. Planning gives you more control than relying on luck. Some information you need for successful planning is here - http://www.lakefield.net/~thrivingbusiness/ http://www.voy.com/31049/ [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| For the Record, Many People Care & the Number is Growing | Dennis S. Vogel | 21:03:15 05/08/11 Sun |
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