2015 NAMM Global Report Emphasizes Caution In Canadian Market

Monday, August 10th, 2015

09 GlobalReportNAMM members are now able to view the latest global music instrument and product sales trends in the 2015 NAMM Global Report, available on the NAMM website. The annual publication captures a snapshot of music industry sales figures from 23 countries, including retail sales figures, unit sales information, analysis, and import/export numbers for musical instruments and products.

The report notes that “imports of music products to Canada decreased slightly in 2014 over 2013, as reported in constant US$ terms. It is likely that the economic slowdown in the latter part of the year, combined with the currency shock of the Canadian dollar’s drop, contributed to this decline after two strong years of increasing imports.” It goes on to note that the “overall mood in Canada remains one of caution. Weak oil prices and a weaker dollar, combined with continued economic growth in the U.S., could lead to further declines in the Canadian dollar and significant market price increases on imported goods denominated in U.S. dollars. Continued pressure in the energy sector will likely drive unemployment higher, with the consequence that consumers may be more careful than ever with their disposable income.”

To read the full report, go to www.namm.org/files/ihdp-viewer/global-report-2015/.