But against the backdrop of declining sales of music on physical media, a music supermarket is opening.
While retailers are actively curtailing sales of CDs and records under the onslaught of streaming services, HMV is betting on opening the largest record store in Europe. The HMV Vault is almost 2500 sqm and is located in Birmingham, UK. Visitors will have access to 80,000 CDs, 25,000 vinyl albums, 40,000 DVDs and 20,000 Blu-ray discs.
In addition to albums, players and headphones will be available in the store. Plus 7,000 different books and trinkets like posters, t-shirts and mugs with music-themed prints. At the same time, HMV Vault will not be just a point of sale. It is expected that the store will become a place for meetings and communication, will turn into a must-see place for tourists. It also provides space for bands and DJs to perform. There are plans to open a cafe.
Much attention will be paid to the selection of personnel. The salespeople at HMV Vault will have to be really good at music. According to HMV management, streaming services are bad because they literally dump millions of songs on the user. Having come to HMV Vault, the client will be able to get only what he is really interested in, the best of everything that has been created recently.
The opening of HMV Vault is part of plans to transform the company's store chain. The market for physical media is still quite large, and there will always be people who just don't like the whole idea of streaming services. Over the past year, the share of HMV decreased by 3%, but at the same time, the share of Amazon increased by exactly the same figure. That is why the company decided to bet on what the world's largest online store cannot offer by definition. Namely, the opportunity to literally plunge into the world of music, find like-minded people and just have a good time.
The HMV network is adapting to new realities. Some of the shops were closed, but others have been transformed. In general, the company is very optimistic.