Industry Analysis & Industry Trends
Musical instrument retailers are increasingly optimistic as consumers buy items that they delayed purchasing during the recession. Following the collapse of the US economy, reduced disposable income caused industry revenue to dip 0.7% in 2010 as consumers substituted toward cheap imported instruments. As a result, import penetration into the manufacturing sector spiked 9.3% in 2010, and it is estimated to rise at a 1.7% annualized rate in the five years to 2013. At the same time, however, a higher quantity of musical instruments encouraged retailers to stock and display them, which ultimately boosted industry sales over the past five years. Revenue is forecast to rise at a 1.2% annualized five-year rate to $6.7 billion in 2013, including a 4.4%.... purchase to read more
Industry Report - Industry Locations Chapter
The spread of establishments within the Retail Market for Musical Instruments falls roughly in line with the spread of the overall population in the United States. A greater number of residents in an area can lead to a stronger demand for musical instrument purchases. Additionally, brick-and-mortar establishments that operate in a specific, heavily populated region may also operate their online musical instrument retailing establishment.
In 2013, musical instrument retailing establishments will be most highly represented in the Southeast, West and Great Lakes regions. The Southeast will account for the highest share of establishments at roughly 24.3%. This region also holds the highest share of the US population at about 25.4%... purchase to read more