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Musical Instrument Retailers in the UK: Market Research Report

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

Musical Instrument Retailers Market Research Report | SIC G47.591 | Feb 2017

Out of tune: Online-only retailers are a rising threat as consumers spend more online

IBISWorld’s Musical Instrument Retailers 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
Red Submarine Limited Red Submarine Limited market share
S&T Audio Ltd S&T Audio Ltd market share
Industry Statistics & Market Size
Revenue
£438m
Annual Growth 12-17
3.8%
Annual Growth 17-22
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Profit
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Employment
3,914
Businesses
1,688
Industry Threats & Opportunities
  • Operators have been forced to reduce their prices to compete with online-only retailers
  • Retailers are expected to pass rising purchase costs from the depreciation of the pound on to customers
  • Operators that can offer multichannel retail options have performed better than traditional operators
  • ... purchase to read more

Industry Analysis & Industry Trends

The Musical Instrument Retailers industry endured tough conditions at the start of the five years through 2016-17. Subdued economic performance during this time resulted in uncertainty among consumers, who subsequently reduced their expenditure on discretionary goods. This consumer behaviour affected a number of retail industries including the Musical Instrument Retailers industry, which was already declining. However, this negative tone changed in 2013-14 thanks to rapidly improving economic conditions. Retail activity increased as a result of the strengthening economy, rising real disposable income and higher consumer confidence. Over the five years through 2016-17, industry revenue is estimated to increase at a compound annual rate of 3.8% to reach £438.2 million... purchase to read more

Industry Report - Industry Products Chapter

Audio recording equipment

Products in this category include tape machines, audio processing devices, and computer hardware and software for audio recording. This segment accounts for approximately 16.2% of industry revenue. Once solely used by specialist recording studios, this equipment is becoming more advanced, cheaper and easier to use, so it is increasingly marketed to everyday consumers. Most musical instrument retailers stock some kind of audio recording equipment, which can range from basic handheld recording devices to dedicated digital recording workstations and specialised processing components like preamplifiers, effects units and compressors. Dem.. purchase to read more

Additional Insights for the Musical Instrument Retailers Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Musical Instrument Retailers Industry are

  • Provision of goods currently favoured by the market
  • Experienced work force
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Real household disposable income and Total online expenditure in the Musical Instrument Retailers industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Musical Instrument Retailers Industry?

    Operators in the industry sell musical instruments, including guitars, amplifiers, keyboards and associated accessories. This industry includes the sale of musical instruments via the internet if the seller also operates bricks-and-mortar stores.

    Industry Products
    Audio recording equipment Guitars Keyboards, pianos and organs Amplification and DJ equipmentPercussion instrumentsOrchestral stringed instrumentsBrass and woodwind instrumentsExpendables, accessories, sheet music and other items
     
    Industry Activities
    Musical instrument retailingRecording equipment retailingSheet music retailing


    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
  • Real household disposable income
  • Total online expenditure
  • Population aged 11 to 19 years
  • Average weekly hours of work
  • Current Performance
  • Harmonious resolution
  • EU Referendum
  • Drumming up support
  • School of rock
  • Traditional operations transposed
  • Highly strung
  • Chart: Revenue Growth
  • Industry Outlook
  • Technological timbre
  • Orchestrating online operations
  • Striking a chord
  • Banding together
  • Table: Musical Instrument Retailers Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Musical Instrument Retailers Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Sound Recording & Music Publishing
  • Primary Education
  • General Secondary Education
  • Consumers
  • Key Selling Industries
  • Consumer Electronics Manufacturing
  • Musical Instrument Manufacturing
  • Products & Services
  • Audio recording equipment
  • Amplification and DJ equipment
  • Orchestral stringed instruments
  • Guitars
  • Keyboards, pianos and organs
  • Percussion instruments
  • Expendables, accessories, sheet music and other items
  • Brass and woodwind instruments
  • Chart: Musical Instrument Retailers Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Hobbyists and students
  • Professionals
  • Education sector
  • Chart: Major Market Segmentation for the Musical Instrument Retailers Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Rent, depreciation and utilities
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Musical Instrument Retailers
  • Basis of Competition
  • Internal competition
  • External competition
  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Musical Instrument Retailers Industry
  • Industry Globalization
    Major Companies
    Gear4music Ltd
    S&T Audio Ltd
  • Table: Gear4music Ltd - financial performance
  • Table: S&T Audio Ltd - financial performance
  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Musical Instrument Retailers 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 Musical Instrument Retailers Industry
  • Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Jargon & Glossary
    Multichannel Retailing
  • Using multiple different channels to interact with potential customers. These could include the internet, mobile phones and bricks-and-mortar outlets.
  • Musical Instrument Digital Interface (Midi)
  • A way of allowing different instruments to interact with each other electronically.
  • Synthesiser
  • An electronic instrument that generates sound by using filters and tone generators to create waveforms.

  • 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 Musical Instrument Retailers:
    • 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 Musical Instrument Retailers 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 Musical Instrument Retailers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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