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 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