Industry Analysis & Industry Trends
Though the economy is set to improve over the next five years, the Record Stores industry will not likewise improve. Competition from big-box stores and streaming music websites will continue to dominate the market for music, with consumers placing an emphasis on convenience and price. The overall increase in disposable income and consumer sentiment will help slow the industry's decline, and some record stores will establish online storefronts to supplement their revenue, but these factors will not stop the industry's downward slide... purchase to read more
Industry Report - Industry Locations Chapter
As with most retail industries, the location of stores falls broadly in line with population trends in each US region. The Record Stores industry is largely concentrated in the Southeast and Mid-Atlantic regions, which account for 21.0% and 20.1% of total establishments, respectively. The US population of each region is 25.4% and 15.5%, respectively. The Southeast's share of the industry has been relatively low for its population size of 25.4% due to the region's older population. The number of establishments in the Southeast will remain relatively stable, though, since older populations are slower to adopt new ways of consuming music.
The percent of establishments located in the West and the Mid-Atlantic regions is higher than their respective populations... purchase to read more