Re-Tales

It's not every day that someone opens a new brick-and-mortar hi-fi store. A variety of factors make the prospects of such a venture uncertain at best. Hi-fi industry veteran Michael Klein, though, has the guts and seasoned-salesman charm to make a go of it.

Attracting new customers is essential for brick-and-mortar dealerships' long-term survival. Over the last several years, many b&m dealerships have continued to expand into home automation and custom installation. Home theater is also undergoing a resurgence. These services can support—and complement—two-channel audio-equipment sales.

Audiophilia often leads the afflicted on a long journey, but no one need take that journey alone: Many audiophiles seek the company of like-minded people, on-line or in person, to exchange tips and advice, buy and sell gear, and share skills, fun, and musical experiences. And those who don't seek audiophile companionship? Perhaps they should.

How healthy is the hi-fi market? One widely reported silver lining of the pandemic was increased sales of anything to do with home entertainment, including hi-fi. Recently, though, inflation has broken out and the stock market tanked. Higher prices all around—from shipping and logistics to necessary parts and raw materials—added pressure from all sides.

In last month's Re-Tales column, I discussed the impact the current economy is having on the hi-fi industry. Some hi-fi companies said sales have "normalized" after widespread, dramatic increases during the COVID years—which is to say, sales are down relative to their peak but still strong. Others have noticed customers biding time before making expensive purchases or opting to buy less-expensive equipment than originally planned. Yet, even in this risky economic climate, a few people are taking the risk and opening new brick-and-mortar retail stores.

Those of us who aren't wealthy must often sell something before we can buy a new piece of hi-fi gear, and it's usually another piece of hi-fi gear. Selling in order to buy makes a great deal of sense because, after all, you only need one of everything (or two in the case of speakers) at a time in a two-channel system.

Another secondary-marketplace incentive: As I pointed out a couple of Re-Tales columns ago, the higher prices rise on new equipment, the more appealing pre-owned gear becomes.

Probably the biggest group of audiophiles right now are still "Boomers": members of the "Baby Boom" generation, which by most definitions puts their minimum age at close to 60. Boomers are aging and won't be around forever. So bringing new blood into the hobby is more important than ever.

Younger people (post-Boomer generations) listen to a ton of music—but are they really listening? Are they paying close attention, or, as the cliché goes, is it, for them, all background music? Generational clichés are rarely accurate. Of course they actually listen. Enough of them are, anyway. And they hear more; their hearing is better.