Volume down: Industry revenue is expected to fall in 2022-23 due to rising competition
Audio & Video Equipment Retailers in the UK
Weak confidence has led to consumers reducing spending on discretionary goods. This change in consumer behaviour affected retailers, and industry revenue subsequently slumped. Restrictions placed on retail outlets during the pandemic tanked the industry in 2020-21. Over the five years through 2022-23, industry revenue is expected to drop at a compound annual rate of 5.7% to £420.8 million. This includes a projected fall of 3.9% in 2022-23.
Operators in the industry retail audio and video equipment. Products include radios, TVs, audio and visual accessories and audio and video players and recorders. The industry does not include the retail of musical instruments and musical scores. The industry also excludes online-only retailers.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.