In honor of Record Store Day we caught up with Jon Lambert, General Manager of one of our favorite record stores, Princeton Record Exchange (in Princeton, New Jersey). Catch the interview and bonus playlist below:

How long have you been with PREX and what did you do before?
21 years now. Before that I cut my teeth in retail chains and local video stores. We have 12 employees that have been here for 15+ years and I think that is what has lead to our success and longevity.
What has been the biggest change in the customer purchasing habits since you’ve been there?
There has been a shift in the new commodity approach to buying music. Instead of customers coming in to buy the new Madonna, they come to the store as an event of sorts. They are just looking for something to do. Some customers spend all day pouring over the bins, talking to people and discovering new music.

What would you say PREX is known for?
If I had to pick three major points they would have to be our vast selection, quality control of used items, and low price. For instance we have a wall of 20,000 CDs under $5.00 ($1.99-$4.99) and 10,000 LPs under $2.00 (although it’s generally more than both).

What is PREX doing to prepare for Record Day 2010?
Checking in large shipments of new releases into our database, rearranging the store and making room in the bins for the products customers will be looking for when they come in the door this Saturday. We’re still waiting on some freebies and I have to call the sign guy today, but other than that we are just about set.

How has the digitizing of the recording industry affected your business?
The largest paradigm shift has been that people shop more online than ever before. They are also very pricing conscious. It’s become a singles market once again which has been both good and bad for us. Our used sales have shot through the roof because of this. About 70% of our sales are used, leaving 30% in new product sales.

Can you give us a rough break down of the percentages of sales by format?
Approximately 55% CD’s, 28% LP’s and 17% DVD’s

What’s your prediction for Top 5 sellers in 2010?
Vampire Weekend, Them Crooked Vultures, Joanna Newsom, Gorillaz, She & Him

Visit Princeton Record Exchange

Thanks to Jon @ Princeton Record Exchange.