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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

The Musical Instrument Retailers market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

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 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 Analysis Chapter

Musical instrument retailers struggled at the start of the five years through 2016-17. Consumers have shifted their interests from traditional hobbies, such as learning to play an instrument, to those more aligned with the digital age. This deterioration in demand was exacerbated by the economic downturn, which resulted in falling consumer confidence and lower disposable incomes. However, conditions for businesses in the industry improved dramatically from 2013-14 onwards and industry revenue is forecast to increase by 2.9% during the current year. Rising real disposable income and the stronger economic conditions have resulted in an increase in retail activity over the past three years. As a result, industry revenue is estimated to increase at a compound annual rate of 3.8% o.. purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

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


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