Synergy MI Statistics for the the UK

Synergy

          Special Edition press release from Gary Cooper

SPECIAL EDITION


Independent UK MI Industry sector reports reveals shock figures:

Acoustic guitar imports down 56%, electric guitars -31%,

synths -37%,

digital pianos - 48%


Key Sector reports compiled by industry veteran Alan Greensall reveal the shocking state of the UK's MI industry in 2023. Greensall's Synergy Statistics, working from HMRC Office For National Statistics figures, shows that imports of almost all categories of MI products recorded huge falls in 2023. The implications for UK retailers and distributors could hardly be worse in the light of widespread concerns that Britain could be facing a recession in 2024. With industry rumours suggesting yet more major shake-ups looming in the already diminished MI retail sector and questions being asked about the prospects for some distributors and brands, the figures provide a sobering start to the New Year.


Explaining his methods and intentions exclusively to MITN, Greensall, whose multi-decade career includes senior roles with Rose-Morris, Roland, Sound Technology, Line 6 and the MIA (where he served as both Director and Chairman of Statistics & Trends and Credit Director) and his own Synergy Distribution, says: 'The industry desperately needs facts and figures, not vague feelings about what might or might not be happening. Relying on that is like driving a car with your eyes closed and waiting until you hit something. How can retailers and manufacturers plan what to order or stock if they have no idea where the market is heading? 


'Previous attempts to come up with accurate figures have been very wide of the mark. The UK's MI industry has consistently failed for the last 20 years to produce accurate data and has tended to use the less focussed statistics produced for the US publication Music Trades. Even the recent 'state of the industry' report by the MIA, as it admits itself, was simply a survey of "gut feeling, with no quantifiable data".


'But the data is out there if you know how to get it and interpret it. The government's Office For National Statistics compiles import and export figures and the picture they show for this year is devastating. UK acoustic guitar numbers: imports to June 2023 down 56%, electric guitar numbers down, 31%, drums and percussion down 11%. We have accurate figures for both item numbers and value and neither picture is good.  Within the next few weeks we will have completed reports showing the final six months figures for 2023 and there are a few surprises there, too! There are winners even in this downturn and the stats show where the winners are located.


'Using these accurate government figures, backed by 40 years experience working in the industry which enables me to interpret and correct errors that can and do occur. I use this multiplicity of information to compile sector by sector reports showing what is really happening. UK data is compiled bi-annually, which means that the data to June this year is available right now. It also enables me to access historic data going back, where possible, from 2009 onwards, which is a good starting point. Data from the early 1980's is also available from my archive if there is a need for even greater historic context. If you want to know where an industry is going it's vital to understand where it's been and how it got where it is today so as to get some idea what will happen next and plan for this year and next.


'There are are a lot of questions these statistics raise, for example, are there enough guitars arriving to sustain the historic sales numbers, or is the UK stock holding in distributors and retailers able to bridge the gap? Are the instruments in stock actually selling through? 


'The figures are presented in easy to digest form and compiled with an understanding of what actually happens in this industry and how it works. It has taken months of compiling, preparation and interpretation and it is always a work in progress as we are now finalising the full 2023 reports for our contributors. Companies in the industry are welcome to contact me for details of how to get access to our reports.' 


For more information contact:


Alan Greensall 

Synergy Statistics

Office 0121 270 6485


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