MI Retailers Talk Sales And Merchandising Of Accessories
The building blocks that make up a successful independent MI store are a lot smaller than some might anticipate. The Music & Sound Retailer spoke to three MI dealers across the country and found that accessory products—ranging from strings to pedals to hardware and more—constitute a large percentage of sales, and an even larger percentage of sales floors, as independent retailers continue to compete against big chains and online retailers while adapting to the economic concerns of their customers.
“With the lower-income folks, the ones who are still out of work or are only working part-time, they don’t have much in the way of disposable income. So, they try to fix up what they have to get it sounding as good as they can,” explained Bryan C. Loy, Owner of North Carolina-based Paradise Music, who estimates that more than 50 percent of his store’s sales come from accessories. “I think these folks will pick up a new instrument when they can, but I think, for now, they’re just doing the best they can with what they have to work with.”