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The Retail Market for Musical Instruments in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

The Retail Market for Musical Instruments Market Research Report | Retail Market Reports | The Retail Market for Leisure Goods | Feb 2013

Staying in tune: Rising imports will pressure profit, while higher incomes spur modest growth

IBISWorld’s The Retail Market for Musical Instruments 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
Guitar Center Inc. Guitar Center Inc. market share
Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 08-13
1.2%
Annual Growth 13-18
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Profit
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Employment
41,553
Businesses
14,016
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 Key Buyers Chapter

The Retail Market for Musical Instruments is defined by a highly fragmented, widespread market. The industry's market share concentration level has remained low overall during the past five years, but is dominated by Guitar Center and its affiliate musical instrument retailing outlets. In 2013, Guitar Center alone will account for 21.3% of industry revenue. Over the past five years, market share concentration has been dwindling as mass merchandisers such as Walmart and Best Buy continue to increase their musical instrument product offerings. This has taken away from brick-and-mortar establishments, which are already highly fragmented. The spread of brick-and-mortar establishments is divided throughout the United States, with a higher concentration in areas with heavier population... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the The Retail Market for Musical Instruments Industry?

Companies in this industry sell musical instruments, such as guitars and pianos, and may also generate revenue from products sold alongside instruments, like sheet music or CDs. This report shows the size of the retail market for instruments and includes all major retail channels, including specialty stores, general merchandisers and e-retailers. Sales of audio and video equipment like amplifiers and microphones are excluded in this industry, as are musical instrument repairs and rentals.

Industry Products
PianosOrgansViolins, drums, guitars and other instrumentsSheet musicOther goods (includes tapes, CDs and audiobooks)
 
Industry Activities
Guitar retailingPiano and organ retailingDrum retailingOnline retailing of musical instruments


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