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What's going on with the audio market?

Recent retail sales reports are very bad and I am hearing that sales for audio equipment have been nonexistent over the past few months.  I also see more dealers putting items up for sale here and on other outlets.  Even items that have traditionally sold quickly here are expiring without being sold. 

To what would you attribute the slowdown?  Have you changed your buying habits for audio equipment and, if so, why? 
theothergreg
grannyring's avatar
grannyring
6,517 posts
 
54,16,0

I am like jmcgrogan2 and am taking money out of the system. I think this is a trend with many aphiles. I just realized most gear is seriously overpriced and getting worse. The shrinking market has caused builders to charge outrageous money for what is actually inside these rectangular boxes. This fact has soured my attitude towards many high end companies and changed how I approach music at home.

The good news is there are a few companies offering gear that sounds fantastic for a fraction of the cost making it possible for me and others to downsize and enjoy the music as much as ever.

For me digital audio has opened my eyes and ears. It is the future and it is very affordable. Computer based servers with Roon & Tidal are absolutely amazing sounding and simple to use finally. Add a Digital amp and room correction and smile big!

Times they are a changing and I do think these small, high end boutique builders will not make it much longer. How can they when one can buy a great sounding one box digital amp with Dac, preamp, room correction etc... for less money than a tube preamp and it actually sounds as good or better than a multi box 120 plus pound ensemble of rectangular boxes.




elberoth2's avatar
elberoth2
1,223 posts
 
I'm 40, bought my first real system when I was 14. I'm chasing the rabbit still, lol.
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tonykay
1,304 posts
 
First things first. Enough with the political rants. If you want to talk politics, go to another forum!

The reason the audio market is down is the same reason the music business is down, i.e. saturation. Are there any boomers left that haven't assembled a respectable music system? Sure, there are some and a few millenials that care about audio, but the pie keeps getting smaller. Life moves too fast these days for people to sit and enjoy listening to music. There are too many distractions and they all cost money. People have to make choices about where to spend their money and unfortunately stereo equipment doesn't rank as high on the priority list as it once did. Also, the market for personal listening, i.e. headphones, ipods, has improved and become more affordable-and they're portable (think multi-tasking). Add to that, the prices for truly high-end equipment has hit the stratosphere. So, considering all of the above, are we really surprised?
dgarretson
2,599 posts
 

The second figure(the age at which one began to spend seriously on the hobby), I was hoping to distinguish from the age at which one first acquired a memorable system. The inflection point for spending is more helpful in measuring the arc of consumer spending that’s necessary to sustain the industry.

For example, at 15 I built a nice pair of inexpensive Altec VOTT speakers that I would consider high-end even by today’s standards. After holding those for ten years, a pair of ESS AMT1s. Then ten years later (at age 35) after picking up my first issue of TAS, I renewed my visits to the audio shops with reawakened interest(and more disposable income) and launched onto a ramp of unabated expenditures that substantially define my lifetime contribution to audio industry GDP. For those of my boomer generation, I sense that the bell curve of serious spending is typically age 35-65.

If the industry is to survive, it needs to find similar arcs of consumption that begin in the peak income years and extend at least to retirement.

Posters so far suggest several age demographics. Notably missing are those above 65-- who likely represent a significant share of posters on this site, but may be reluctant to declare their age.

paraneer's avatar
paraneer
818 posts
 
Why would anyone be surprised?

High end audio is an interest embraced by baby boomers who grew up with it since high school.   As we boomers diminish in numbers , we are replaced by gen X'ers and millennials who were not raised with it.  And have no interest in it.  How many of us boomers with good audio systems want a hoverboard?  Its that simple.

So no wonder the prices have gone through the roof - manufacturers know they have to make their money now while they can.  Half of these audio manufacturers know they will not be around in 10 years.  The industry may not be around in 20; just one more generation.

Its not the only industry (or institution) in trouble.  The times they are a changing.
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