The aim of this paper is to define the perceived consumer values that physical record stores create in order to compete with other distribution technologies. A qualitative method has been used, based on interviews with managers of three records stores in Stockholm. Interviews with their customers have been conducted also. The content has been analyzed with passable theories and the two sources have been compared when adequate.The conclusion of the study is that the physical record stores create many different consumer values, and that many of these are hard to transfer to other distribution technologies. One of the most important values for the consumer is that the personnel have a broad knowledge about music. Other notable values are the emotional feelings of searching for something and the atmosphere the record store creates. A pattern that is visible is that the niche record stores create more consumer values then the commercial record store. The conclusions indicate that there are opportunities for niche physical record stores and that the future for the record stores is not as bleak as may be perceived.