New research from ICM conducted to coincide with Record Store Day on the 20th April has found that the vinyl resurgence is not being driven by generations who grew up with the technology, but under 25s.
We found that one in twenty people had purchased a vinyl record in the last month, but this rises to 14% when looking at the young age demographic (18-24). Younger people are also far more likely to have bought Luxury or Special edition records in the last month as well as just over one in ten stating that they had bought an audio cassette in the last month.
As well as this, we found that many people, especially vinyl buyers, prefer to buy their music from independent record stores as opposed to other purchase methods. Two in five of those who had bought any music in the last month would prefer to purchase their music from an independent retailer, whilst 85% of vinyl buyers would prefer to buy limited or special edition vinyl records or CDs from an independent store.
It also seems that engagement with music in general and independent record stores is much higher amongst vinyl buyers than the general music buying public. Almost nine in ten vinyl buyers were aware of an independent store local to them compared to just over a quarter of the whole population. Vinyl buyers were significantly more likely to have bought other formats in the last month as well, with 52% purchasing CDs, 31% buying an MP3 and a fifth (19%) purchasing an audio cassette.
When it comes to listening to the records they buy, only 51% of vinyl buyers have a record player or turntable which they use with a small percentage citing that they do not have a record player and do not want one, yet continue to buy vinyl.
Knowing this, we went to Berwick Street in Soho on Record Store Day to investigate why young people were leaning towards vinyl, and why people prefer to shop in independent stores for their music. The findings suggest that the vinyl resurgence has no sign of stopping, and that it could give a much needed boost to music retailers on the high street, though will it be enough to prevent the further demise of music retail institutions in the UK?
A nationally representative online survey of 2030 18+ GB adults was run between 12th and 14th April 2013. The qualitative interviews were conducted in Soho, London on Record Store, 20th April 2013.
To find out more, please contact Natalie Compas or Maurice Fyles on 020 7845 8300.