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Musical Instrument Stores
First Research, Feb 2012, Pages: 10
First Research is the leading industry intelligence company that helps sales teams perform faster and smarter, open doors, and close more deals. First Research performs the heavy lifting' by synthesizing hundreds of sources into an easy to digest format that a sales person can consume very quickly to better understand a prospect's business issues.'
Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US musical instrument stores industry includes about 4,000 stores with combined annual revenue of about $5 billion. Major companies include Guitar Center and Sam Ash Music. The industry is fragmented: the 50 largest companies account for about 45 percent of revenue.
COMPETITIVE LANDSCAPE
Consumer income and changes in musical tastes drive demand for musical instruments. The profitability of individual companies depends on effective merchandising. Small companies can compete effectively by specializing in personalized service or high-end instruments.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products include guitars, pianos, sound equipment, parts and accessories, and school music products. Other sources of revenue include repairs, equipment leasing, and sheet music.
Musical instrument stores include full-line stores and specialty stores such as keyboard, school band music, and pro audio stores. Full-line stores offer a complete range of musical instruments and accessories. Keyboard stores specialize in traditional upright, grand, self-playing, and electronic pianos. School music stores sell band instruments to universities, high schools, and amateur players. Pro audio stores specialize in selling sound system equipment.
Full-line musical stores include national chains and independent dealers, as well as big-box retailers with a musical instrument department. National full-line chains operate in stand-alone buildings and strip malls, with stand-alone stores ranging from 12,000 to 30,000 square feet. Chains may also operate midsized stores within indoor shopping malls, and often own specialty stores under a different brand name. Specialty stores typically operate within 2,000 to 4,000 square feet of retail...
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