My former coworker is a coordinator of product development for Universal music group (they have almost half of the record labels you can think of). It's physical products he's in charge of getting made and distributed.
It's not surprising vinyl sales are strong, but what might surprise people is the main area of growth is in stores like Wal-Mart, Target, Whole Foods, etc. Not necessarily that record stores are expanding. (pre Covid obviously)
People still want something physical, even beyond the hardcore collectors. Vinyl isn't a perfect medium but it has obvious features that appeal. The gigantic flaw is that it's not portable other than converting to MP3. Cassettes blow but they have that one thing vinyl doesn't.