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> Online sales reach record share of physical entertainment, (bad news for HMV)
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ben08
post May 14 2018, 08:41 PM
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From Music Week.

The latest quarterly entertainment date from Kantar Worldpanel reveals that online sales have reached a record share of the physical entertainment market, including music, games and video. For the first time, sales of physical music products including CDs and vinyl are equal across bricks and mortar and online stores.

James Foti, consumer specialist at Kantar Worldpanel, said: “Online physical music sales are booming, growing by 13.6% in the past quarter. Shoppers are choosing to increase their online spend and they’re paying higher average prices by opting for more expensive products like vinyl, which as a sector has attracted over 260,000 shoppers in the past 12 weeks online alone. As a result, pureplay retailers like eBay have captured an increasing share of the physical music market, though Amazon retains the No.1 spot.”

Figures for the 12 weeks to April 8 reveal that online now accounts for 42% of physical music, gaming and video purchases. Amazon’s share was up by 3.5 percentage points to 25.9%. Foti added: “Overall, physical entertainment declined by 13.5% over the past quarter but online sales were a real bright spot. The average shopper spent almost £19 when shopping online over the past 12 weeks – that’s in comparison to around £15 in store – and the lure of e-commerce has now persuaded 27% of consumers to buy their physical entertainment goods exclusively online.

“A further 37% still split their spend across online and offline, suggesting the high street still plays an important place for shoppers and that those retailers which aren’t embracing a multichannel approach may lose out.”
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Lo-Fi Version Time is now: 19th December 2018 - 12:14 PM