How To Grow Audio Sales
In a market dominated by mobile, connected devices, it’s safe to assume consumers have relinquished any expectation of audio quality. But new research from CEA reveals that while many consumers have accepted and embraced many forms of content consumption, their desire for quality audio endures. Nowhere is this more pronounced than in the home. The question is how dealers can turn consumers' latent demand for quality audio into revenue and profit?
CEA's “Notions of Quality: Audio Expectations of Consumers” study (July 2011) offers many insights on consumers' listening habits, including how they define quality audio, and their attitudes and behaviors when buying audio equipment. One-third (34%) of consumers consider themselves “audio enthusiasts,” according to the research. That number represents about 80 million U.S adults, most of whom we count among our customers.
The appeal of quality audio, though, extends beyond these self-proclaimed enthusiasts. An equal number (80 million U.S. adults) say they have a moderate interest in audio. Among these moderates, some 31 million consumers go further to say they are willing to pay more for high-quality audio electronics, like receivers and speakers. While these consumers are obviously not the low-hanging fruit from a sales standpoint, they represent fertile sales ground to grow our businesses.