Crescendo: Revenue will rise, but the industry will contend with rising import competition

The Retail Market for Musical Instruments is tentatively moving forward, hitting a sweet note over the five years to 2018 as a result of the positive performance of the wider economy. Per capita disposable income is estimated to have increased, which has generated higher spending on recreation and leisure activities. Although the industry has historically been dominated by traditional brick-and-mortar establishments, e-tailers like Amazon and big-box stores such as Walmart are increasingly selling industry products. Price competition has been further fueled by competition from more-affordable imported instruments, especially through online outlets. Industry revenue growth is forecast to continue over the five years to 2023, thanks to a continued uptick in disposable income levels...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23
Market Share of Companies

Industry Threats & Opportunities

  • Rising per capita disposable income will boost industry sales, but price competition will temper overall revenue growth
  • Technological advances have resulted in higher-quality products offered at more affordable prices
  • Rising disposable income will increase consumers’ propensity to spend on musical instruments
  • Industry Report - Industry SWOT Analysis Chapter

    Overall, The Retail Market for Musical Instruments is considered a mature industry. Products sold by the industry are becoming less expensive due to offshoring and as initial development costs are gradually deducted from the retail price. Furthermore, industry products are fully accepted among consumers and the retail routes, namely via stores and online, are not subject to any significant technological innovation. Consumers are able to compare products easily on a basis of price and quality, which stimulates price competition and typically results in stable and low profit margins.Furthermore, wages are stable despite employment growth because of increasing sales through websites that often sell a wider variety of products than brick-and-mortar retailers. Ove...purchase to read more.

    Additional Insights for the The Retail Market for Musical Instruments Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the The Retail Market for Musical Instruments Industry are

  • Having a wide and expanding product range
  • Proximity to key markets
  • Ability to control stock on hand
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Import penetration into the manufacturing sector in the The Retail Market for Musical Instruments industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    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 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 from this industry, as are musical instrument repairs and rentals.

    Industry Products
  • Pianos and organs
  • Violins, drums, guitars and other instruments
  • Other goods (includes tapes, sheet music and CDs)
  • Industry Activities
  • Guitar retailing
  • Piano and organ retailing
  • Drum retailing
  • Online retailing of musical instruments
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Import penetration into the manufacturing sector
  • Time spent on leisure and sports
  • Percentage of services conducted online
  • Number of adolescents aged 10 to 19

  • Current Performance
  • Changing industry landscape
  • Technological change
  • New employment standards
  • Chart: Revenue Growth

  • Industry Outlook
  • Lower unit prices
  • Profitability dwindles
  • Table: The Retail Market for Musical Instruments Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - The Retail Market for Musical Instruments Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Community Colleges
  • Musical Groups & Artists
  • Performers & Creative Artists
  • Public Schools
  • Private Schools
  • Consumers

  • Key Selling Industries
  • Manufacturing
  • Wholesale Trade

  • Products & Services
  • Violins, drums, guitars and other instruments
  • Other goods (includes tapes, sheet music and CDs)
  • Pianos and organs
  • Chart: The Retail Market for Musical Instruments Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Other general music stores
  • Online retailers
  • Guitar stores
  • Piano Stores
  • Other retailers, including big-box stores
  • Chart: Major Market Segmentation for the The Retail Market for Musical Instruments Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs The Retail Market for Musical Instruments

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the The Retail Market for Musical Instruments Industry

  • Industry Globalization
    Guitar Center Inc.,
  • Table: Guitar Center Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the The Retail Market for Musical Instruments Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the The Retail Market for Musical Instruments Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Per capita disposable income (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A retailer that primarily sells goods via the internet. Many of these companies operate exclusively online.
  • Hobbyist
  • A consumer that is not a professional or student but rather engages in musical activity for leisure or pleasure.
  • Sheet Music
  • A musical composition in printed or written form, normally in the form of unbound leaves.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on The Retail Market for Musical Instruments can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on The Retail Market for Musical Instruments:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The The Retail Market for Musical Instruments market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on The Retail Market for Musical Instruments, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.