Understanding the demand for vinyl records in Singapore
Global revenue from vinyl records has seen a rise despite a predicted demise of physical music formats. Research has shown that the intention to consume is influenced by the construction of self-identity, increasingly so in the dematerialised world where digital consumption does not allow an outward display of identity. This study aims to understand demand for vinyl records in current day Singapore by comparing the alternative modes of music consumption and analysing the market forces that are shaping consumption patterns. By doing so, the demographics of vinyl record consumers can be understood, and future trends can be projected.
The research is centred around interviews conducted with record store owners and literature review. The resurgence in the United States and United Kingdom started before Singapore hence studying the trajectory and influences in those markets will aid in the understanding of what is happening in Singapore. Analysis shows that rational economic decisions do not apply in the consumption of vinyl records as demand for vinyl records rose even though listening to records are deemed highly incompatible with current day living. On this basis, it is recommended that future studies could study vinyl records as a cultural artefact rather than a product.