Guitar Center Plans for The Next 50 Years
The rumors about the demise of Guitar Center have been exaggerated.Â In April in the month when it was due for the debt to be settled off, the company was able to hold urgent loan talks.Â The company isn’t in a crisis but is hugely in debt.Â But, the company can anticipate a better future like Bridge Payday.
“Guitar Center’s sales of guitars in the past year have been the highest we’ve ever seen over the years. We think this is a positive sign of the future, and for the next generation to show an interest and love for guitars,” Jeannine D’Addario director of marketing, communications and public relations and customer service rep at Guitar Center made an announcement.
In contrast to the claims of people believe, Guitar Center isn’t a goner. It’s still in operation with two new stores which have opened in the last few days, and an overhauled Hollywood store scheduled to open later in the year. More than 50 years later, with more than 280 locations The company is planning to stay open opening of another fifty years of providing services to musicians. I spoke with Michael Amkreutz, EVP of the merchandise department and sales online for Guitar Center. GC label, in order to discuss what’s to come at Guitar Center.
Guitars form the primary source of income for the company.
If you just listen to the audio clips, and believe that the guitar market is dying, think again.Â The Washington Post also offered an industry celebration earlier this year.
“Fake reports,” suggests Amkreutz which strongly denies the assertion and provides data from the industry to support the assertion.Â Music Trades magazine is the most trusted source for industry professionals and an authoritative source for data about sales of guitars discovered that the market value increased in value by 7.7 percent from 2016 to 2017, and the retail value was 8.8 per cent.Â The market is valued at $1.3 billion. Acoustic guitars account for around 56 percent ($740 million) and electric guitars make up the remaining forty-four per cent ($590 million) which grew by one step in retail sales over the last calendar year (up 9.1 percent, compared to 8.6 percent for Acoustic guitars).
“‘Guitar Center’ is over our front door,” Amkreutz declares. “Guitars are a major component of our product line as well as sales at the store. ” Amkreutz adds that Music Trades recently released figures on the volume of imports of guitars, which shows that imports of acoustic and electric instruments have grown by double digits over the last year.
“That number is in line with our category performance,” the writer says. “When you look at the factors that influence Guitar Center performance, it’s the segment of stringed instruments which includes ukuleles that have affordable prices to high-end electric guitars with a upwards of $5,000 and everything in between. “
Industries is currently in flux, however , they are are trying to figure out how to get there.
Amkreutz claims his industry had to face difficulties in the last few years. However do you know any issues the industry hasn’t faced? He mentions Fender as being among the top companies in the industry with the best products. Three year ago Andy Mooney was introduced to lead the company.
Amkreutz is thankful to Mooney for helping to revive the brand’s image by offering new models in bright shades with distinctive texture that appeal to younger consumers. “Fender recognized that a guitar wasn’t only a piece of artifact that can be personalized. It has to feel and look good. In a way, Fender is the major player that has given new energy to the world of guitar,” Mooney declares.
In relation to the fallout from the Gibson case Gibson, Amkreutz suggests the company’s desire to acquire acquisitions was too ambitious and the business was unable to sustain itself due to the changing market. The author states “Gibson is returning back to its roots, highlighting the flexibility of their products as well as their high quality. They’ve changed their proposition of value and are doing exceptionally well. “
Alongside the issues faced by the industry, and the latest rules issued by the government concerning imports of wood products.Â This is the primary element of guitars.Â It led U.S. manufacturers to a “screeching stop” until they could fulfill their reporting requirements before regulators. “That resulted in production to drop dramatically particularly in the first second half of 2017, which lead to a drop in supply of guitars available for purchase.Â It does not mean that the guitar was less well-liked.Â ” Amkreutz shares.
They haven’t gotten rid of the guitar.
Guitars are highly sought-after in the present. This is the same as what inspired it in the past. The most famous music and band members. Names aren’t changing.
“Go for an excursion towards South By Southwest or Coachella. You can check out Taylor Swift or Ed Sheeran. The festivals that are grassroots and other festivals, are focused on millennials and GenZs. Our company is following these trends in a close ratio. If you listen to songs with a guitar coming out, it’s as if we’re seeing the growth of our business,” Amkreutz states.
It’s impossible to buy guitars to market.
With pop stars leading the future Generation of artists Guitar Center has a important contribution to make in the music industry and not only as the opportunity for young musicians to purchase instruments, but also as an aid to students in learning to master the instrument that they would like to play. Thus learning and teaching in music is a major component in the business. It’s a secure and secure environment with highly educated instructors from leading music schools.
Amkreutz discusses the importance of fostering and developing musicians, not just giving them instruments. “Fender’s Andy Mooney says that for each ten guitars sold nine are abandoned at the start each year. The company does not have enough money to increase demand for guitars with marketing alone,” Amkreutz states. “But if we could hold two 10 instruments at the disposal of musicians, we could increase the revenues by two. “
The final result of the experience is evident it’s a Guitar Center shopping experience about building a stronger connection between the musician and the instruments they play. “The relationship of the musician with the instrument they play is like a love-hate relationship,” the guitarist says. “You want to to listen to that, experience it the way you feel it, and then play the instrument. It can be connected to different amps and pedals and use it in a variety of settings. There are 286 Guitar Center locations. Guitar Center can be uniquely situated to create a place where musicians be comfortable playing their instrument. “
“We encourage musicians to come by and try out their instruments without having to buy any item. We’re sure that once they’re ready to purchase an instrument of their own, they’ll be back for more from Guitar Center,” Amkreutz clarifies. “We always take a look at what our customers’ needs and how they use their instrument as well as the type of setting they require , so we can offer an experience that is consistent to all customers in our entire network of stores. “
Stores are opening up and thrilling experiences
The building process is underway at the Guitar Center’s Hollywood flagship store, which is located in Sunset Boulevard. The store is brand-new and Amkreutz hopes will be an example for other stores to be built within the next few years. This is the biggest overhaul for the company in its history. The store and is scheduled to open in autumn it will include a more modern guitar room that is “unparalleled by increasing the playing experience,” Amkreutz says in. The room will permit musicians to link their instruments to various pedals and amplifiers that are available in different areas of the department of retail.
Other features which have been added to the store and may be available in the other Guitar Center stores shortly are currently available in the newly launched Delray Beach, Florida, and its brand newly opened Bloomington, Minneapolis stores. They offer Guitar Center Lessons music academy, GC Rentals, and Guitar Center Workshops, which are no-cost courses in the beginning of classes. Today, around 180 locations are equipped with separate rooms for lessons.
Connecting to the latest generation of music artists via the internet
What’s equally vital for the Guitar Center’s future 50 years of providing the most enjoyable in-store experience for musicians from beginner level to pros will be online offerings. “Guitar Center is truly Omnichannel, and we work hard to ensure that the experience is as seamless as we can both online and at the store,” Amkreutz says. To do the job, Guitar Center stores offer the multichannel “endless aisle” that gives customers the possibility of combining telephone, in-store and online choices to purchase the equipment they need for their music in any location.
“When you think of the quantity in terms of units, the reality is that we sell just all the guitars on the internet as we do in shops,” the guitarist elaborates. “But the moment you take price ranges in the equation, you’ll observe two halves of the higher-end instruments being offered by people who wish to test it and get some experience before buying it. “
However, Amkreutz believes that this trend will change very soon. “We have witnessed an increase for younger consumers who are comfortable purchasing expensive products through the internet. “
Guitar Center is gearing up to be a success over the next five decades. It is led by two fresh-faced managers. Erica Moran as VP of marketing. Bob Buckborough, as the VP of sales online, along with the brand new store model that is designed to enhance the connection between musicians and their instruments. Amkreutz is optimistic of the near future.” We’re well-placed to profit from the explosive growth that we’ve witnessed in the guitar industry. I’m not convinced that it’s the same as the decline or death some people claim,” the guitarist declares.