1st July 2024
The second of the AMA’s new seasonal reports brings you up to date import data, this time up to March 2024.
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Half of the report uses the most recent full year of data, being April 2023-March 2024, to see trends for sections and categories of products and compared to previous years. This period showed a substantial drop in value compared to the previous year (-18%), almost matched the 5 year average (+1%) and was substantially higher than the 10 year average (+22%). This continues observations from the last full Market Report (calendar year 2023), that there has been a significant drop in certain categories through the past year or so but in many cases the five year comparison looks more stable.
The biggest proportionate drops in units (year to March 2024 vs previous year) were in pianos and keyboards (126k to 81k) and pro audio products (1.8m to 1.4m) while there was a slight increase in accessories, percussion, and the brass / wind / bowed strings section.
Most sections were lower in value than the previous, but most (with the notable exception of guitar products, and electronic instruments) were higher in the past 12 months the year to March 2022, with the 'spike' in the previous year across many product categories continuing to affect the recent results.
The Quarterly Report has been updated since its first version last year, and it will continue to be produced for the 'in between' quarters (March, June, September) as well as the much more detailed annual Market Report (year to December).
In addition to tables showing 10 years of 'year to date' data (by units, and value) for the most recent reporting period, and 4 years of quarterly data, the report includes totals for all sections (eg. 'Guitars') and categories (eg. 'Electric Guitars', 'Bass Guitars', 'Guitar & Bass Strings'). Two new tables show an 'at a glance' summary of the industry as a whole (Table 1, above) and a table showing the trend in quarterly imports.
The Annual Market Report and Quarterly Report is an AMA member benefit