You touch on one other aspect here, younger people are more likely to rent and thus be more mobile; there's pressure on space in the cities, and despite we're still urbanising at a hell of a rate. I've just turned 40 - I only bought my first hifi system in my late 20s, once I had done with university, travelling, etc, and despite not being particularly flush and still renting, had enough stability (and a living room suitable for parties) to warrant a more serious sound system! Before then, it was not even in question, due to the hassle of frequent moves, flatshares etc., despite being aware of the merits of a good system (I play guitar, had been gigging, my folks had a half decent system at home, best mate's dad was seriously into hifi, etc). The situation has only got "worse" - the result is that people have less space and less inclination to buy bulky stuff that needs to be carefully moved, because the space they're living in is shrinking and they're moving more often. It's not necessarily that they're not financially able to buy, but there are other constraints in play. In this context, a single box system makes a lot of sense, e.g. either Sonos and their ilk, or something like a Cyrus One and a pair of small speakers. And, of course, the headphone scene, which is a great stepping stone. Some manufacturers have cottoned on to this, but many haven't.
HiFi: The pricing structure
- Thread starter Alonso1973
- Start date
You touch on one other aspect here, younger people are more likely to rent and thus be more mobile; there's pressure on space in the cities, and despite we're still urbanising at a hell of a rate. I've just turned 40 - I only bought my first hifi system in my late 20s, once I had done with university, travelling, etc, and despite not being particularly flush and still renting, had enough stability (and a living room suitable for parties) to warrant a more serious sound system! Before then, it was not even in question, due to the hassle of frequent moves, flatshares etc., despite being aware of the merits of a good system (I play guitar, had been gigging, my folks had a half decent system at home, best mate's dad was seriously into hifi, etc). The situation has only got "worse" - the result is that people have less space and less inclination to buy bulky stuff that needs to be carefully moved, because the space they're living in is shrinking and they're moving more often. It's not necessarily that they're not financially able to buy, but there are other constraints in play. In this context, a single box system makes a lot of sense, e.g. either Sonos and their ilk, or something like a Cyrus One and a pair of small speakers. And, of course, the headphone scene, which is a great stepping stone. Some manufacturers have cottoned on to this, but many haven't.
Mike Reed
pfm Member
Disagree; the rise in consumerism during the last half century has induced people (with possibly the exception of the Germans, who are inveterate savers) to spend on stuff previously unobtainable. Budgeting, saving and basic financial nous seem to have diminished over the years. The wages in a jam jar to pay the bills went out and wasn't replaced. How else has the retail sector multiplied so much more than the population growth to ostensibly sustain it?
I travelled throughout Britain annually updating retail conurbations from '71 to 2003 and saw at first hand the shopping malls proliferate. I remember, during the eighties, wondering who on Earth kept all those gift shops not only trading but expanding. Essentials now were luxuries then; c'est la vie ! It's not the money you earn but the money you spend, and with credit facilities going from the 'never never' to a plethora of store and credit cards, overdraft facilities and plentiful loans and mortgages, temptation to spend was too much for many people.
Jim Audiomisc
pfm Member
One feature of this is the 'financialsation' of housing in the UK. The most obvious symptom being people forced into renting because buying costs too much. Thus meaning they pay more in the long run. Note also the 'buy (via mortgage) to rent' layer often interposed as a part of the neoliberal model. Double-layer of debt/interest subtraction.
Jim Audiomisc
pfm Member
I've taken to referring to the "top 0%" because the most wealthy of all hide their wealth via devices like LLPs, no-declared-owner companies in the BVI, etc. Thus the wealthly exist as shadows off the scale. Pay no tax. For their purposes the UK is already "Switzerland-On-Sea".
Yes this is another reason young people are less likely to get into Hi-Fi compared with previous generations. Unsecure housing, jobs and the like means a decent set of cans, their phone and a streaming subscription means they don't need all the gear and physical media to go with it, same goes for a lot of other big purchases.
It would be interesting to know how many young people would be interested given the right circumstances and whether it's a choice driven by lifestyle constraints or purely down to convenience.
I'm the same age as you but I started work straight from school, all my first "big" purchases from starting work were Hi-Fi related until I had the need for a car and my own place.