According to an article in Rolling Stones magazine the overall album sales in US dropped 13% in 2010, while the sales of vinyl albums increased with 14% in the same period. The end result was 2.8 millions LP sold and you have to go back to 1991 to see the same numbers sold (actually they didn’t start counting this until 1991).
This shouldn’t come as a big surprise. It has been happening for years and there have been a lot of similar articles in European Newspapers, so you see the same trend here. The Guardian wrote about this trend in 2009.
And its not only in vinyl you see this. You have it in most sectors. Some examples: Mad Men (TV Shows), Mini and Fiat 500 (Auto), bicycles, Webpages, the old Arcade games is selling well for iPhone, and of course in fashion.
And in every segment the buyers are not the older target groups on a nostalgic trip back to the Flower Power area. It’s the young consumers.
My cousin called me one day (he is in his late 50s) telling me that one of his sons (age 16) had digged out his old Beatles albums and found his old record player in the basement. He even got posters of John Lennon in his rom…
According to different trend analytics (among them the Norwegian Gunn Helen Øye (no links)), the retro style appeal to young consumers because it was remembered as a time with a lot of strong opinions (student rebellion), great bands (the Beatles, Rolling Stones) and important political issues and happenings (the Vietnam War) and the hippie movement. It was a time with great engagement. For some, a sharp contrast to the younger generations today. So today’s young consumers are searching the past to develop themselves.
So then, a lot of this is expressed through the interest for retro products. So marketers beware. Do you have a product that can be rebranded as a retro product, or an old one that could get a new beginning? Maybe you should give it a shoot!