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Record Stores in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Record Stores Market Research Report | NAICS 45122 | Dec 2014

Facing the music: Online sales and shifting trends continue to siphon industry demand

IBISWorld’s Record Stores market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 09-14
-5.7%
Annual Growth 14-19
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Profit
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Employment
19,482
Businesses
4,206
Industry Analysis & Industry Trends

Continued shifts in consumer preferences and competition from large discount and digital music retailers have dampened consumer demand for the Record Stores industry. With increased accessibility to high-speed internet, music streaming and less expensive CD-burning hardware, album sales have declined significantly over the past five years. While consumer sentiment is expected to improve in the next five years, this industry will fail to experience revenue growth. Consumers who are accustomed to digital music are not likely to return to making regular purchases at record stores... purchase to read more

Industry Report - Industry Investment Chapter

Record stores rely primarily on labor to operate. Duties assigned to industry employees include customer service, maintaining store displays and inventory, processing consumer purchases and maintaining computer systems. Labor is also needed for managing and marketing roles to navigate the changing dynamics of the music retail industry. Over the past five years, these roles have undergone consolidation so that now managers often deal with computer systems and client services to cut store costs.

For every $1.00 spent on labor, the industry spends only $0.10 on capital. Unlike capital costs, which can vary in this industry, labor costs are an integral and steady part of operating expenditure. Wages are estimated to represent 15.0% of total industry revenue in 2014... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Record Stores Industry?

Record stores primarily retail prerecorded audio and videotapes, compact discs (CDs), digital video discs (DVDs) and phonograph records. Online sales are excluded from this industry.

Industry Products
Compact Discs (CDs) and AudiotapesDigital Video Discs (DVDs)Vinyl
 
Industry Activities
Retailing prerecorded music Retailing prerecorded videos


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