IBISWorld, the major market research
organisation, has just published its March 2012 report on Musical Instrument
Retailers in the UK.
Key findings are that the musical instrument retail sector saw an average decline
in revenue of 3.7% per year over the last five years. The report also found that an
increasing share of the sector’s revenue being taken by online retailers.
Other recent IBISWorld reports found that over
the last five years online retailing grew by 8.9% per year and the secondhand
goods retailing sector (including musical instruments) grew by 7.2% per year.
In our view, these market research findings
show that musical instrument purchasers now feel very comfortable buying musical
instruments online, and also feel happy to buy secondhand instruments rather
than just opting for new as they may have done a few years ago.
Double Reed Ltd., as an online secondhand
musical instrument retailer, is right at the heart of these changes in musical
instrument purchasing habits.
We owe our success to offering:
- the best aspects of online retailing - easy purchasing without travelling, competitive pricing and low overheads, etc.; combined with
- the best aspects of traditional retail outlets - personal service, expert advice, the ability to try instruments in your own home, confidence in your purchase, and so on; and
- superbly prepared secondhand instruments which offer very good value for money with no compromise on playability, reliability or longevity.
The IBISWorld report may be found here: IBISWorld Musical Instrument Retailers March 2012
