JMT Web News

May 14, 2020 03:01 PM

An Immediate Survey- How Deep Has The Industry Been Affected by CORVID-19?

Japan declared a state of emergency over coronavirus on April 7th to Tokyo, Osaka and 5 other large cities. On 16th, it expanded to include entire areas throughout Japan.
According to the request from the Government, most music stores temporarily closed operation or continued to run cutting business hours. In-store music lesson programs were cancelled until May 6 (extended to the middle of May). All businesses in the industry are coping with the situation by remote-working, work shifts and staggered working hours.

Japan Musical Instruments Association conducted a survey sending a questionnaire to 19 manufacturers, 12 wholesalers and 46 retailers at the beginning of April. In recognition of the serious financial difficulties of the JMIA members, the organization has decided to apply The Ministry of Economy, Trade and Industry for compensation for the loss of income, rescue packages for continuation of business for the industry members, and effective measures to resume and rebuild the businesses in coming months. Also, it asked the ministry understanding role of the music products industry that provides artists with tools for music making and help support their pursuit of original musicality and artistic expression.
Here is a report on what the industry leaders see and confront in this extremely chaotic time, and about how much their businesses are affected.

How is the coronavirus infection affecting business?
Retailer operation has been much impacted with stagnant sales as a result of   devastatingly slow foot traffic to stores, and the closure of music lesson programs which now lasts for 2 months. They also commented reimbursement of advanced payment for planned but cancelled event programs affect their operation.

Consequently, the manufacturers and wholesalers face declined orders from the retailers in the domestic market. In addition, import and export businesses with overseas partners in Europe and the U.S. have been faltering. In many cases delayed shipment of parts from providers and shortage of staff are afflicting factories. As of this date, the Government plans to lift the state of emergency against nearly 40 prefectures excluding Tokyo, Osaka and some other cities still struggling with coronavirus infection.

How much did the retail sales decline in March in comparison with the same month of last year?
40% of the retailers replied that their sales in March went down more than 40%, and 29% commented 19% decline at the largest. About the in-store music lesson programs, 56% of the retailers reported the largest 80% decline.
37% of the manufacturers and wholesalers replied sales dip between 20% and 39% over the same month of last year, which was followed by 30% of manufacturers/wholesalers reported 19% maximum sales decline.

Retail sales in March ( percentage of retailers, compared with the same month last year)
Plus over the previous year            5%
Minus between 0% and 19%        29%
Minus between 20% and 39%      18%
Minus between 40% and 59%      40%
Minus between 80% and 100%      8%

Revenues from in-store music lesson programs (percentage of retailers, compared with the same month last year)
No change or minus 19% at the lowest    3%
Minus between 20% and 39%                  11%
Minus between 40% and 59%                   9%
Minus between 60% and 79%                  12%
Minus between 80% and 100%               56%

Manufacturers/wholesalers sales in March (compared with the same month last year) 
Plus over last year              4%
No change or minus 19% at the lowest     30%
Minus between 20% and 39%       37%
Minus between 40% and 59%       15%
Minus between 60% and 79%        7%
Minus between 80% and 100%         7%

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