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How will recession affect audiophiles and hifi trade?

There’s an article in yesterday’s Echoes says Focal had sold far more of their top speakers, Grande Utopia something or other, during covid than in normal years

That's a different situation. Lots of hi-fi manufacturers found that. Basically lots of people had money in their pockets, furlough, working from home etc, but couldn't spend it on holidays or the usual things. They were stuck in the house so bought stuff for the house. My boss bought a hot tub!
 
Do you remember the 1980s when interest rates hit double digits? (I was in short trousers and wasn’t fiscally minded at that age).

How did it hit audiophiles, manufacturers and dealers?

Are we heading back to stack systems with graphic equalisers?

I was a schoolboy during the early and mid eighties so I've no recollection of how the 'recession' affected audiophiles, though I do remember my parents talking about income tax and interest rates.

I don't think we'll ever see a return to stacking systems and we have Digital EQ nowadays.

Judging by the way things have been going over the past 15 years or so I think you'll mostly see 'budget' hifi disappear, the midrange gear there will be less of and will get more expensive.
As for the 'high end' (anything) , I think it will be okay, those that really have money and are prepared to spend will still do so, at least that's how our economy seems to be geared to work.
 
People will be selling their luxury items to pay for their daily living costs. Some bargains are to be had. My parents related that people in the second world war swapped their gold rings for a loaf. And had their gold teeth fillings pulled out to buy food.

Cash is king, the rich will get richer.

But HiFi as we knew it is already dead with the ordinary chap in the street only using their mobile phone. Same as photography - who is still buying a camera? Its all on the mobile phone today.
 
I was a schoolboy during the early and mid eighties so I've no recollection of how the 'recession' affected audiophiles, though I do remember my parents talking about income tax and interest rates.

The ‘80s was actually a real growth area for hi-fi. Loads of little Thatcherite start-ups making black amps with no knobs or black vinyl-wrap speakers on their kitchen table etc. The endless boom and bust economics putting a lot of money into some hands at the expense of many others. Hi-fi was huge. I remember audio dealers driving brand new Porsche, BMW, even Ferrari etc. Huge amounts of money in that area as it slotted in with the whole ‘yuppie’ thing that a minority got to experience.

This time I fear it will kill a lot of what remains of the two-channel hi-fi industry. Over time the market has shifted to a vastly shrunken Veblen market for the elderly in many respects. Given Stirling, pensions, savings etc all are in freefall and inflation is skyrocketing I suspect few will be buying new kit right now. As stated anyone considering it should probably move fast as I suspect what they wanted will be a lot more expensive in a couple of months time, if it exists at all!
 
re the UK why do you think that Truss woman removed the 45% tax threshold? so the well off could buy more hifi
There will be an initial downturn of course while the well off use their new found extra wealth and lowered stamp duty to hoover up the houses of the hifi dealers who can no longer afford their mortgages. They can then decide which of these houses to keep as yet another holiday home, and perhaps buy some hifi to populate it, or rent it back to said hifi dealers (should they still be in business)
 
I will be listening in the dark - hopefully savings accrued through not turning on the lights will offset some of the increased cost of turning on my valve amp'
 
No but you can with Nectar points

I've made a beeline (!) for Argos recently to spend my S'bury's shopping points. A Hoover vac last week; loo seat a month ago. Usually spend Nectar points on wine but my tippling habits are dwindling.

I've lived with buying/selling hifi through many ups and downs since the sixties but can only remember when 25% VAT (or was it purchase tax then?) coincided with quadraphonics (latish seventies?). However, much of the good kit then is still around and has been added to tenfold or more since. I do believe that this time there is likely to be a hifi bloodbath/buying opportunity/selling disaster/w.h.y.

Interesting note from Tony re. escalating vinyl prices on Discogs; wonder why.
 


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