I believe there are workable models for record shops. It always surprises me that large concert venues don't have dedicated facilities to sell music/books/t shirts etc: if you see how much band-related merchandise gets sold before/after a gig, why not expand that offer? You've got a captive audience pre- and post-concert.
Also, record shops on the High St need to be entertainment venues (Rough Trade is a good example - why not more?). Why not plan joint ventures with cafe/bar brands? Past record shops have tried it but always in a half-hearted manner: sometimes you need to work with established brands to provide you with food & beverages. For instance, I'd love to see a record shop with a Yo-Sushi licenced restaurant, open until late to allow for a small-scale concert venue. Yes, there are change of use issues with some High St properties, but having the ability to browse for music, listen, download, have lunch, meet friends for a drink, see a gig - in one location - has some appeal.