Music Products Sales Increased in March Before Consumption Tax Hike

| No Comments

JMT's retail music monthly survey found excellent sales in March as consumer rushed into music stores for last-minute shopping before consumption tax hike on April 1st.
Sales significantly increased on 9 tracked product categories of acoustic pianos, digital pianos, electric and acoustic guitars, stringed instruments, percussion instruments, digital music products, wind instruments and accessories. The music dealers reported extremely high customer traffic and average sales price. The last 10 days saw more than expected sales in particular with high demands for expensive items.

Eventually, the anticipated tax hike helped the music dealers prompting consumer to buy any music products they plan to buy in the near future.
Industry experts are cautiously watching coming April report. But, many dealers are optimistic saying sales dip after April will be moderate and not much affect business as a whole.
All dealers reported better sales over February. Demands were the strongest for electric guitars and wind instruments, which were followed by acoustic guitars and percussion instruments. Consumer also purchased online more than other months.

 

Leave a comment