CIMS Weekly Chart
Week Ending 4/7/2017
Ok, time to beat that dead horse again.
My store recently had an inventory blowout sales event. We pulled any new/used vinyl inventory that had not sold in the last couple of years (the CDs take care of themselves because they are returnable). All this inventory was placed on our stage and discounted between 35% and 50%. Guess what happened? It began to not only sell, but to sell rapidly. We also had a two-store CIMS member who closed a store and put his entire inventory on sale. Same story there — all the new vinyl blew out of his store.
The conclusion is obvious: If we can keep trying to bring the price of new vinyl down to a reasonable level, then the sky is the limit for continued growth of the format. If we don’t, the growth will be much slower. Some artists, labels and distributors get this and are honestly trying to keep prices in line; some aren’t and act like it’s an impossible task. I understand that licensing is very much a part of the problem, especially on catalog reissues, but we all need to continue to strive to make these products affordable to the average-income store customer.
We’ve come a long way in the evolution of the format. Let’s keep going.
Coalition of Independent Music Stores
The Record Exchange
1105 W. Idaho Street
Boise, ID 83702
208.343.0107 x3 office