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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 is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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 Key Buyers Chapter

The Record Stores industry has no easily distinguishable top player outside of Trans World Entertainment Corporation. With clear dominance in the industry, Trans World still only accounts for about one-tenth of industry revenue. This figure was as high as 18.5% in 2008 but has since fallen as operational units have gone under. This low market concentration is a result of the specialized nature of many record stores, which are traditionally independent. The distribution system has traditionally maintained short-term contracts, enabling independent stores to enjoy the same deals as chain stores... 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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