For further information please contact:


Richard Stevenson Consultant Editor Retra Alert


richard@rspr.co.uk 07974 926157 www.retra.co.uk


very well, and the sector overall is now worth nearly 30 percent of total headphone market turnover.” Sales of £250 units are not uncommon for specialist retailers, with models up to £999 making significant sounds in the headphone market mix.


Buoyant


Whether the market will remain buoyant in terms of average price points throughout 2024 is less clear. In addition to continued high inflation, political turmoil and potentially a general election (legally due by January 2025), the wars in both Europe and the Middle East and ever-chillier relations with the global manufacturer that is China, consumers are far from filled with “spendy” confidence. Yet the drive for ever more eco-friendly products and brands, and new technologies could well keep the tills ringing. As Mr Simon argues, the market is in such good shape at 10 million units and £700m value, even flatlining would not be a disaster. “At the moment, 2023 is looking stable at best compared with


last year and it may well be that 2024 comes in with similar values rather than exhibiting any dramatic growth.”


Yet, with most of the most prominent name players in


headphones moving to Direct-To-Consumer (DTC), mass retail and Amazon, getting an account and stock, let alone demo samples, can be a challenge for smaller retailers.


Trade-up Sadly, we are not likely to see multiple manufacturers supporting POS displays like Laskys’s headphone wall back in the day, but it did encourage trade-up. I know – I went in for a well-reviewed Sennheiser model, and came out with some ludicrously large Jecklin Float electrostatics. Thankfully, there are some solid Retra associate manufacturers who will still work with independents, including Sony, Yamaha and Vivanco – all with solid offerings across various price points. If you can find suppliers that will deal with you, polarise your


range into commodity/impulse and premium, and offer demo facilities, there is still a healthy slice of the headphone market to be had.


It’s all about


the add-ons… AV accessories are great for incremental sales – don’t forget them.


Sony WF-1000XM5 wireless noise-cancelling headphones


Spatial Audio Surround sound, something of an old chestnut in audio that dances with consumer favour like the weather, may also be making yet another comeback. Spatial Audio, using codecs like Dolby Atmos, Sony’s 360


Reality or Apple Spatial Audio, are driving a large sector of the headphone market thanks to widespread adoption by some streaming services (Tidal and Apple Music in particular) and the gaming industry. This premium sound feature is keeping prices healthy too. “We have been tracking this sector for a while,” says Mr Simon


“and I can reveal that Spatial Audio enabled headphones are already hitting one-third of total turnover. They have doubled in value in the 12 twelve months compared with their 2021/2022 equivalent.” We can safely say that the weather is set to be fair for surround


sound headphones in 2024, although don’t call them that, as you will sound like an old fogey. It’s now ‘Spatial Audio.’ Small, easily posted high-value items driven by internet-based


reviews and media will never be a key category for the high street, so independents’ share of that £700m overall remains small. Christmas will provide an avenue for lower-priced models for impulse gift purchases, but premium headphones (£200+) that customers would like to hear before they buy still have real business value.


The accessories market continues to push cash through high street tills, either as add- ons to main TV/audio sales or a ‘popping in because I just need a…’ purchase. Cables, cleaning, stands and


brackets will never support your business, but they do add some increment to the bottom line. “TV mounts account for


more than 80 percent of TV furniture that also includes stands,” says Gfk’s Nick Simon, client director, market intelligence. “These were very popular products among those who


were adding to home comforts during lockdown but became less popular post-pandemic. They dropped from around one and a half million to little more than one million units when comparing 2023 with 2021, while market turnover dropped from just under £50 million to just over £40 million in the same time frame.”


Having good stock and variety is vital to capture some of


that revenue, particularly in TV brackets. Although with eight different types (fixed, tilt, swivel, full-


motion, corner, ceiling, motorised and recessed) and multiple screen sizes to cater for, that isn’t always possible. Your best bet is to have a supplier with a healthy catalogue of models and fast delivery.


█ What’s Hot: Headphones and Accessories 41


What’s Hot: Headphones and Accessories


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