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The Retail Market for Musical Instruments: Market Research Report

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

The Retail Market for Musical Instruments Market Research Report | NAICS OD6118 | Jul 2016

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

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
Industry Statistics & Market Size
Revenue
$6bn
Annual Growth 11-16
0.4%
Annual Growth 16-21
Annual Growth
Profit
Profit
Employment
34,814
Businesses
13,112
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
  • ... purchase to read more

Industry Analysis & Industry Trends

Rising price competition made musical instruments more affordable to consumers during the past five years, which expanded the Retail Market for Musical Instruments industry. The market has also experienced a surge of new entrants; though traditionally dominated by small brick-and-mortar locations, online retailers and big-box stores are increasingly offering industry products. However, the increase in market participants, coupled with rising penetration of low-cost imports, has exacerbated price competition and prevented growth in the industry's profit margins. Still, rising disposable income over the next five years will encourage budding musicians to purchase industry products, as well as enable experienced players to invest in higher-margin instruments... ... purchase to read more

Industry Report - Industry Investment Chapter

The Retail Market for Musical Instruments carries a low level of capital requirements. Like most retail industries, music instrument retailers rely heavily on labor. For every dollar spent on wages, the average industry firm will invest about $0.06 in capital equipment. The labor-intensive nature of the industry puts wage costs as the second-highest expense for the industry, accounting for about 14.1% of industry revenue in 2016. Nonetheless, this figure is subdued by the prevalence of online retailers. These firms are not required to train staff or outlay expenditure on direct customer service, nor are they required to invest in capital such as shelving displays or cash registers. Mos.. ... 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... purchase to read more

     


    Industry ProductsRelated Reports

    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


    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    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
  • Chart: Revenue Growth
  • Industry Outlook
  • 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
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Community Colleges
  • Musical Groups & Artists
  • Performers & Creative Artists
  • Public Schools
  • Private Schools
  • Consumers
  • Key Selling Industries
  • Manufacturing
  • Products & Services
  • Violins, drums, guitars and other instruments
  • Pianos
  • Other goods (includes tapes, CDs and audiobooks)
  • Sheet music
  • Organs
  • Chart: The Retail Market for Musical Instruments Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Students
  • Hobbyists
  • Professionals
  • Chart: Major Market Segmentation for the The Retail Market for Musical Instruments Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs The Retail Market for Musical Instruments
  • Basis of Competition
  • Internal
  • External
  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the The Retail Market for Musical Instruments Industry
  • Industry Globalization
    Major Companies
    Guitar Center Inc.
  • Table: Guitar Center Inc. - financial performance
  • Operating Conditions
    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
    Key Statistics
  • Table: Industry Data for the The Retail Market for Musical Instruments Industry
  • Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Per capita disposable income (2007-2021)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Jargon & Glossary
    E-Tailer
  • 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, which is normally in the form of unbound leaves.

  • Why Buy this Report?
    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 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.

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