I don't know whether it was due to a world full of poor quality 'flat-pack' products, the rise of cheap and affordable consumer electronics from Asia, a combination of both or just an evolving human race, but consumers are now driven back to higher-quality products and brands; albeit with higher than ever expectations of value-for-money.

This is good news for the Hi-Fi and AV industry. Consumers want good sound, stunning picture and want to control both and more from their universal remote control; the smartphone in their pocket.

Traditional two-channel hi-fi manufacturers have embraced this new enthusiast. Brands such as McIntosh, Linn, Cambridge Audio, Naim and many more have worked hard to keep relevance in the market, spotting the trends and re-inventing themselves with products that deliver for the next generation of discerning enthusiasts.

Wireless connectivity, seamless integration, media streaming, head-fi and desktop audio, these are the keywords that continue to rank in StereoNET's own search traffic. But what do we even call this category now, Hi-Fi? Some would argue that thanks to the likes of one of the biggest chain stores (at least in Australia), JB HiFi, that the term itself encompasses all these categories and is universally understood. I disagree and think that's the thinking of yesterday. It's time for our specialist retailers to follow the lead of their suppliers, and re-invent themselves too.

At Hi-Fi shows across the world, at least in the last ten years, one needs only look at the average age of attendees, I dare say it’s heavily occupied by audiophiles in the 50 – 60 age bracket. Similarly with members of 'audio-clubs', this generation of music and hi-fi enthusiast is no longer the core demographic. Manufacturers, distributors and retailers should now be looking to the next generation, and the future generation of enthusiast, if they're not already.

Image: Photo from an Audiophile Society Meeting.

Even StereoNET itself continues to evolve and follow the trends. Some years ago we were asked many times by readers to increase the size of the font to make it more legible! At the time our tagline was "where audiophiles click", but today our fonts are smaller, our tagline is "audio visual, lifestyle & technology" and our readership is at record levels. We have also added dedicated head-fi, digital streaming and wait for it, vinyl and turntable sections to the site to remain 'relevant'.

All this comes at a time when today, according to industry news website ChannelNews, JB HiFi have announced they are reducing the number of their stores that will sell traditional Hi-Fi speakers and receivers to only 50 stores. They are instead moving their focus onto wireless streaming, 'connected' devices and embracing new technologies including streaming services such as Pandora, Spotify and Deezer.

If, as a retailer, you haven't yet embraced head-fi and desktop audio, have the latest range of DACs to audition, along with turntables (and records for sale), have various streaming (both audio and video) products, a myriad of portable audio products on display, as well as traditional hi-fi separates and speakers, you're being left behind.

Next-generation enthusiasts weren't brought up being told to buy a car, find a partner, settle down and buy a house. They yearn for the latest gadget, want to fill their rented apartment with streamed music and media, want high quality audio while on their laptop, and … they’re probably not coming into your store yet either.

And it’s this point in particular where stores need to change in order to stay viable.

We know there are some real challenges facing bricks and mortar retailers. Having to compete with the ‘convenience’ of online shopping, the often cheaper prices and ‘no effort required’ delivery. These challenges can be overcome. Retailers need to show their customers why there is real value in dealing face to face with an expert.

It's time to bring the Hi-Fi stores out of the 90's. They need to be bright, inviting, minimalist in design, and give the customer an 'experience'. Apple got this bit right too, coincidentally. Branch out with your marketing, ensure you're tapping into a relevant audience (which is increasingly found online), host social and product nights for your customers, reach out and connect with your customers regularly. Keep a record of their purchases and let them know when an upgrade or new compatible product is released.

You're an expert in this market, that's why you're a specialist retailer and that's why consumers will seek you out. Ensure you really are up with current trends, techniques and new products. I heard a story recently where a consumer entered a prominent retailer, asked to see the range of DACs to connect to his laptop, only to be told by the salesperson that a DAC is not required if you have a good soundcard and amp! The same customer went to another specialist the same day, purchased a DAC, headphone amp and headphones for a total spend just shy of $4,000.

I haven’t yet discovered the right term for our growing category, it’s evolving and broadening to cover so much more than the traditional “hi-fi” of yesterday. If you have thoughts on this let us know in the comments below, we'd love to hear your suggestions. 

In the meantime, ensure you're appealing to the correct market, delivering a worthwhile experience for the shopper with the look, feel and branding of your store, not just focussing on the brands and products you sell.

Ensure you have a website that showcases your brand, not those of your suppliers. This is often your only chance to make that all important first impression. The same can be said for your social media platforms.

The next wave of enthusiasts is coming...