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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 | Jan 2014

Facing the music: Brick-and-mortar stores get burned from online music sales

IBISWorld’s Record Stores market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 09-14
-7.4%
Annual Growth 14-19
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Profit
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Employment
20,161
Businesses
4,051
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 SWOT Analysis Chapter

Industry participants are adversely affected by consumer shopping trends in favor of big-box, online retailers and an increase in the popularity of online streaming services. Over the 10 years to 2019, the industry's contribution to the overall economy or the industry value added (IVA) is expected to decrease at an annualized rate of 6.1% while GDP grows 2.7% during the same period. Diminishing demand for CDs, reduced consumer spending and increasing pressure on prices has led to a significant decline in the number of businesses and store branches over the five years to 2014. These same pressures may subside a bit with the economy's recovery; however, the underlying issues faced by record stores will continue to exist... 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
prerecorded music prerecorded videos


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