Musical instrument retailers are cautiously optimistic, as operators have hit both sweet and sour notes over the past five years. Reduced disposable income caused revenue for The Retail Market for Musical Instruments industry to dip as consumers increasingly opted for lower-cost imports. At the same time, competition from big-box retailers increased substantially, creating a highly price-competitive environment that has hampered revenue growth for smaller operators. Nonetheless, industry growth is set to resume, thanks to a continued uptick in disposable income. In the medium-term, however, higher disposable income will be balanced by slow growth in leisure time, as the unemployment rate remains steady.
Companies in this industry sell musical instruments, such as guitars and pianos, and may also generate revenue from products sold alongside instruments, 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.