Pianos – Keyboard and Synths Archives | Music Instrument News

The latest 2023 Statistical data of the UK MI industry by Alan Greensall of Synergy Statistics.

The full year data for 2023 from HMRC is now available and Alan Greensall continues crunching the numbers quickly to help us all determine the true state of the UK MI industry. This month we have decided to speed up the data comparison by compiling a easy to read  chart comparing Acoustic Uprights and Grand pianos against the growth of the Digital Piano sector.

Following on from the Bowed instrument market, the piano market overall seems to be resilient in the Acoustic side of the business with numbers for acoustic upright being  +1.67% from the 2022 data. I will not produce a percentage figure for Grands as the previous two years had spurious data, due to toys being erroneously into the commodity code. Digital pianos units also show a slight increase of  +1.47%  However the small increases in numbers sold is sadly diluted  when we look at the values.

To help understand the situation I have attached a second graph that shows the problem for the digital piano market. The Acoustic upright is down -19%, and the Digital Piano is down -18%

One conclusion is that prices have fallen across the board. We also have the additional catalyst of Chinese brands such as Donner, selling direct via Amazon. This has put pressure on the traditional brands to compete by lowering prices + margins and designing more cost driven product. Does this help the industry? Let me know. Also bear in mind that second hand imports are not included.

The post Synergy Statistics – UK Piano Market appeared first on Music Instrument News.

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