We have yet to see any data or documentation showing where the High-End Audio Industry is shrinking, going away or dead (a whopper of gargantuan proportions). If you check Industry publications for statistics and view the distribution numbers (some are audited for authenticity), every magazine continues to grow readership year after year. If you check the quantity of internet videos and participation related to sound reproduction on the professional and consumer sides of life, you will find they too are increasing steadily on a daily basis.
The loss of dealer based audio showroom storefronts was due to the expanding internet. Examine Sears, KMart, Circuit City, Best Buy and JC Penny as examples of brick and mortar losses. It takes greater business savvy and sense to keep any brick shop open these days and yes there are dealers who have survived the web based onslaught and yes there are new dealers figuring out ways to open a storefront and expand business.
In the 50’s and 60’s High End Audio was considered a very “tiny” niche’ industry. We began to grow in the 70’s with the return of our Vets bringing home hi-fi systems from abroad. The 80’s was a leveling off or possible shrinking period due to the live performance going the way of MTV, the innovation of CD’s and other digital mediums. The 90’s saw an increase is business for whatever reason and the Great Recession absolutely reduced our “Luxury Driven Business”. Compare High End Audio stats to the precious stone market, top shelf auto or any other luxury driven industries and you might find similar comparisons and trends over the same periods of time.
What determines or separates Mid-Fi from High End? Is there a magical dollar amount one is required to spend?
Every industry imaginable offers products that cover the consumer investment spread. Notice how most of those Luxury Car Brands are now manufacturing more affordable versions? Does this mean their High End markets too are at risk?
When you started off, did you NOT begin with a low budget sound system and grow from there?
The person laying out the smaller bucks enjoys music just as much as the guy whose career blossomed into a higher earned income status and therefore can now afford the higher end offerings. One cannot judge an industry based on product availability and pricing in the pre-owned marketplace. Our company was built on a $10 product and we still sell the exact same product now - thirty years later where the price is $20… and in the High End Audio business to boot.
Why not just call it AUDIO?
As a manufacturer and having been in this business for over thirty years, I will state the Audio Industry is strong, especially when observed on a global scale. It doesn’t matter how large or small High End or Mid-Fi or Whatever-Fi is currently being analyzed as all industry and business evolve on a daily basis. I have issues regarding the gloom and doom theories presented by a host of characters on this thread AND without any supportive evidence of said demise. It appears some are attempting to attract attention to themselves including a few manufacturers/dealers whose opinions are directed against the very business they depend on. Someone please inform them there are many other ways to shoot yourself in the butt!
Remember when?... All it takes is hearing that first note on a higher quality sound system and you are hooked. Invite people of the younger generations in and let them hear what good sound has to offer. Just like all of us, there will be a percentage of new listeners who join the party.
I have faith in music. We have faith in human emotion and what listening enjoyment brings to the table. Music will always be a part of humanity and there will always be those who have the same urges as we do. Audio in all aspects will continue to populate long after we are gone.
Professional sound and consumer audio Trade Shows are selling or already sold out of exhibit space for the next season. The live concert circuit is hotter than ever and record sales are way up. Keep an eye on those record sales because when record sales are flat so goes the Audio Industry. The great news for everyone is that record sales always make a comeback… always!
I am an optimist and these are my humble opinions.
Robert
Star Sound