The Musical Instrument and Supplies Stores industry in Canada has remained mostly flat over the five years to 2017. The industry, which relies on steady levels of consumer spending, has experienced weak sales during the current period because of tepid growth in per capita disposable income and consumer confidence, as well as increased external competition from mass merchandisers and online retailers that offer lower prices. Industry revenue is estimated to increase over the five years to 2017. Over the five years to 2022, the industry is forecast to exhibit gradual growth at a slow pace. Per capita disposable income and consumer confidence are expected to increase slightly as the economy continues to strengthen and an increase in the number of children aged 19 and younger, the industry's key market segment, is expected to increase at a faster pace over the next five years. Over the period, revenue is expected to increase.
This industry retails an extensive selection of musical instruments, sheet music and related supplies such as microphones, amplifiers and audio systems. These products are usually sold directly to end consumers. Many industry operators also repair and rent these products and provide music instruction.
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.