Low Hum: Growth Will Likely Slow as Imports and Shifting Consumer Preferences Threaten the Market
The Retail Market for Musical Instruments
The Retail Market for Musical Instruments is tentatively moving forward, hitting a sweet note over the five years to 2018 as a result of the positive performance of the wider economy. Per capita disposable income is estimated to have increased, which has generated higher spending on recreation and leisure activities. Although the industry has historically been dominated by traditional brick-and-mortar establishments, e-tailers like Amazon and big-box stores such as Walmart are increasingly selling industry products. Price competition has been further fueled by competition from more-affordable imported instruments, especially through online outlets. Industry revenue growth is forecast to continue over the five years to 2023, thanks to a continued uptick in disposable income levels. In the medium-term, however, consumer tastes are changing in favor of modern music technologies, away from traditional instruments sold by this industry.
Companies in this industry sell musical instruments, such as guitars and pianos, and may also generate revenue from supplementary music products, like sheet music or CDs. This report includes all major retail channels, including specialty stores, general merchandisers and e-retailers. Sales of audio and video equipment like amplifiers and microphones are excluded from this industry, as are musical instrument repairs and rentals.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Guitar Center Inc.
Methodology
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