Record Stores in the US
Over the five years to 2018, sustained shifts in consumer preferences and competition from large discount and online retailers have hampered consumer demand for the Record Stores industry. Despite declining sales, large discount stores have used their purchasing power to capture market share by offering a greater selection of physical media at discounted prices, pressuring industry operators. Likewise, digital retailers and streaming services have positioned themselves as affordable, convenient alternatives to CDs and DVDs. Streaming services, in particular, have risen in popularity amongst music and film enthusiasts due to the premium selection of content offered for a monthly fee. Over the five years to 2023, the Record Stores industry is expected to continue its structural descent as on-demand streaming services and digital downloads dominate as preferred entertainment consumption platforms. Industry revenue is expected to decline at a slower pace, however, as the vinyl record sales rebound.
Record stores primarily retail prerecorded audio and videotapes, compact discs (CDs), digital video discs (DVDs), Blu-Ray discs and phonograph records. Online sales are excluded from this industry.
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.
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