It goes without saying that the past few years have been crazy for our entire planet. The largest catalyst for this change was, of course, the COVID-19 pandemic.
Although the immediate consequences of quarantine only lasted about a year, the effects are still being felt today – everywhere!
In this article, we will look at the statistics of guitar sales and the new shifts since COVID in 2020. We’ll also observe how they’ve changed in the subsequent years, up to the present time.
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2020 saw an astronomical spike in the popularity of the guitar. This increase in demand was unprecedented. In the past few years, trends may have changed slightly, but one thing remains; guitars continue to grow in popularity, and are here to stay!
For some context, this wasn’t always the case. During the height of the 2009 financial crisis, guitar sales plummeted, reaching a low of $821 million in the US.
Despite slow and steady growth in sales since then, many thought that the guitar was on its way out. However, with the COVID-19 pandemic and the resulting global lockdown, interest blew up almost overnight.
Guitar sales increased by 15% from 2019 to 2020, with online retailers amassing the bulk of these sales. Obviously, being stuck at home forced consumers to make purchases online.
However, despite being the largest influence, quarantine wasn’t the only factor to consider. That is thanks to a recent wave of beginner guitarists. Initially, most of these sales were acoustic guitars, but that trend is quickly changing, a phenomenon we’ll explore later.
Since 2020, guitar sales have continued to grow at a similar rate. Sales have increased by 14% in 2023, reaching a grand total of $1.8 billion in total. This is slightly lower than 2020’s 15%, but the change is negligible within such a small time frame.
Sales continue to grow because quarantine formed habits and interests that continued after quarantine ended.
Namely, consumers realized the value of online convenience and leisure time. Pair this with the increase in live shows since then, and retailers’ abilities to adapt to trends, and you have the perfect recipe for guitar growth sales.
To illustrate the point, Sweetwater broke the $1 billion record in annual revenue in 2020, for the first time since they started in 1979. Since then, they have broken that record — and increased it — every year since.
In 2021 they reached $1.43 billion, and $1.57 billion in 2022, which was a 9.5% increase. Going forward, they are expecting to improve even more.
Industry leaders and iconic musicians were concerned about the survival of the instrument, but thanks to the last four years, feel no more concern.
It seems that many picked up new hobbies while being stuck at home with more time on their hands. As a result, aspiring musos, young and old, took the opportunity to start playing the guitar.
Below, we’ll take a deeper look at the impact this boost in popularity and sales is having on the industry. We’ll also explore how the landscape of the marketplace has shifted as a result.
With much of the world being stuck at home for extended periods due to the pandemic, e-commerce stores became the easiest way to shop. Amazon, of course, led the pack, raking in a net profit of $21.3 billion in 2020. Which was a whopping 85% increase from 2019.
Since then their sales have fluctuated, but overall morale remains high — they are Amazon, after all. By 2021, they already doubled their net profit to $33 billion.
The company met an 8% decrease in 2021 with $30.3 billion. This may seem concerning, but you have to remember that large corporations play the long game; Amazon’s long term history has grown exponentially, and shows no sign of stopping.
Online shopping saw a massive rise in demand over the past decade. However, 2020 really forced previously hesitant people to give online shopping a try. And now, shopping online for anything from groceries to appliances has become the norm for many.
Therefore, it’s not surprising that online retailers of musical instruments have enjoyed the lion’s share of guitar sales this year.
Brick-and-mortar stores were already losing popularity due to the rise of online-only music retailers like Sweetwater in the US and Thomann in Europe.
Brick and mortar stores have made considerable progress post-COVID, but continue to fight an uphill battle against e-commerce. Many began implementing curbside pickup, which paired online convenience with a “shipping-less” perk of same-day retrieval.
One would think that getting in your car for half an hour would beat waiting even just 24 hours for shipping. Unfortunately, this model hasn’t been as successful as intended; 80,000 retail stores are estimated to close by 2026 in the US.
That said, by the end of 2020, Guitar Center’s e-commerce store had sold more than double of what it sold in 2019. The retail giant stated that 2020 saw sales numbers for the most prominent guitar brands grow by triple-digit percentages.
Guitar Center took this as a huge encouragement, as they had previously filed for bankruptcy.
However, for them specifically, critiques have accredited their woes to poor management. They cite Guitar Center’s 8.7% decrease in 2022’s revenue as an indication, as well as multiple accounts of near-bankruptcy.
US online retailer, Sweetwater, has shone through as one of the biggest successes of 2020 in terms of guitar sales. As mentioned above, Sweetwater topped $1 billion in revenue for the first time in 2020. They continue to achieve success three years later with a customer base that exceeds 1.5 million buyers.
Many people, experts and clients alike, attribute Sweetwater’s success to their meticulous business model and customer service.
They intentionally established themselves as an e-commerce giant, long before COVID-19. They only have one brick and mortar store, and their vendors are intentional about going the extra mile to help.
When COVID-19 struck, it seems that Sweetwater was already in the perfect position to succeed. They’ve continued innovation as well. For example, their relatively new Gear Exchange page allows clients to sell used gear to each other.
For concrete examples of this success, Sweetwater was shipping out anything from 15,000 to 20,000 orders per day in 2020. For a while, they were selling 1000 guitars a day.
While hard figures can’t be found for 2023, with their increasing demand, these numbers have most likely continued to increase. For this reason, Fender’s CEO Andy Mooney gets annoyed when people say “guitars are dead.”
In 2020, popular guitar brands were selling products as fast as the retailer could get them in. It took until the end of 2021 for supply and demand chains to balance out.
Still, retailers continue to keep an eye on volatile demand. 2023 has seen an unprecedented rise in concert-going. Quarantine gave ticket sellers and artists plenty of time to plan a comeback, and 2021-2022 gave them margin to get back on their feet.
While it might not be apparent, increased concert attendance does play a factor in the guitar market. When more people see live celebrities play guitars, the experience inspires more people to play guitar.
Data might be spotty at best right now, but experts are seriously considering this correlation. Pair these live experiences with e-commerce’s continual innovation, and guitar sales show no sign of decreasing.
Global guitar sales had been at their highest ever, increasing from $8 billion in 2019 to roughly $9.2 billion in 2020. That’s an overall increase of 15% in one year, which, in most markets, was already extraordinary.
But those numbers were only warming up! 2021 saw an increase to $10 billion, which was an 11.4% increase. By 2022 that had gone up to $10.07 billion, which was a7% increase. Sales are expected to nearly double by 2025, to a staggering $19.9 billion!
In 2020, $1.67 billion worth of guitars were sold in the US alone, that’s up 6.4% from 2019. This figure includes acoustic, electric, and bass guitars, as well as the mandolin and banjo.
In terms of the total number of guitars sold in the US in 2020, that figure is close to 2.7 million. Since 2020, guitar sales have gone up consistently by $100 million.
Industry giants such as Fender and Gibson say they enjoyed record sales in 2020, with Fender claiming that they “hadn’t seen another year like 2020 before in terms of sales”. The first two quarters of 2021 showed that this trend had continued.
Their numbers continue to rise most prominently in their electric guitar products, signaling a new era of interest in electric guitar. Andy Mooney credits the pandemic and today’s uniquely diverse crowd of players as the main factors in this growth.
Acoustic (including semi-acoustic) guitars were the most popular guitars purchased in 2020. However, interest in the electric guitar is not far behind.
In fact, in 2023 they have just beat acoustic guitars in total sales. In 2020, electric guitars made up 41% of the total market; now, they make up 58% — a substantial increase of 41% from the original number!
For reference, 1.1 million electric guitars were sold in the US in 2020. By the end 2023, that number is projected to be around 1.55 million.
Of these electric guitars, Fender holds the largest share. Pair Fender with the four other top brands — Gibson, Epiphone, Yamaha, Ibanez — and you have an 88% share of the market.
Of the other 42% of guitars on the market, 37% of those are acoustic and 63% are semi-acoustic.
The price difference between acoustic and electric guitars isn’t much. Although, it depends on the brand and model you buy.
But the acoustic guitar’s popularity is partly because there is little need for additional gear to play the instrument. There’s no need to buy an amp, pedals, or other equipment with an acoustic guitar. This extra gear is, however, essential to playing an electric guitar.
Because many beginners bought guitars in 2020, most guitar sales were in the $200 – $1,000 price range. Fender even stated that sales of their guitars priced under $500 had increased by 92% during 2020.
Of the guitars bought in the last few years, the majority were bought by beginners. Old hobbyists and bored quarantine folks were eager to try something new in 2020, and the aforementioned trends keep those sales coming.
Because novices are buying most of the guitars, most are selling for $200 to $1000, with the average price being between $400 and $500. With such a low price point, it’s crazy to think that guitars are selling in billion-dollar bunches each year!
I took a closer look at the best-selling guitars of the last four years, from some of the biggest online guitar retailers. These are the guitar brands, shapes, and colors that stood head and shoulders above the rest.
There were clearly many beginner guitarists buying their first-ever guitar in 2020, and this trend has continued in full force. This was evident by the number of beginner guitar kits I saw on some of the best-seller lists.
The top-selling acoustic guitar brands from Sweetwater have always been Taylor, Martin, and Gibson, with several from D’Angelico and Yamaha.
Amazon has fared differently. In 2020, the most prominent acoustic brands were Fender, Martin, Taylor, Ibanez, and Yamaha. In 2023, the majority are cheap beginner kits, complete with cases, strings, and picks.
The brands cater towards beginners as well, and include Ashthorpe and Donner. Fender’s Squier models all make an appearance as a quality alternative.
Most acoustic guitars sold in 2020 were those with the natural ‘blonde’ spruce wood finish on top. The majority of which had rosewood backs and sides.
In 2023, taste has changed to become more diverse. Most are solid white or black, with a significant number of others having sunburst designs of various colors.
It’s safe to say that Taylor was the standout acoustic guitar brand in 2020 and 2021. Martin, another highly reputable brand, has been increasing in popularity during 2023, and has established itself as a serious contender to Taylor.
Beginner kits were all the rage on the electric guitar side as well. Not surprising, as they offer beginners an inexpensive guitar with an amp, bag, tuner, and more.
With the increased popularity of electric guitars in 2023, these kits are being sold in even higher quantities. In fact, all 25 of Amazon’s top electric guitars of 2023 were beginner kits.
It makes sense that Amazon would sell more of these kits than any other site; given their accessibility and wide merchandise, they make it easy for those unfamiliar with music to find beginner equipment.
They sell for bargain prices as well, for $60 to $200. Of course, the downside is quality. Since Amazon aims for diversification products, they aren’t always the best stop for top-notch merchandise.
As for music-centered sites, Sweetwater continues to dominate in the electric guitar market. In the last few years, they’ve consistently sold mostly Fender, Paul Reed Smith (PRS), and Gibson electric guitars.
IYV manufactures guitars based on the designs of famous brands. Of course, the quality is certainly not on par with the originals, and they are sold at a fraction of the price.
Guitar Center focused on different brands back in 2020. Their bestsellers included Rogue, Mitchell, and G&L electric guitars.
However, in 2023 they seem to be selling similar inventory to Sweetwater. Their top selling electric guitars are legendary models like the Gibson Explorer, Les Paul, and Gibson SG.
In terms of the finish of the electric guitars sold in 2020, it’s clear that colors have diversified, just like acoustics. Black and sunburst finished electric guitars were the hot favorites in 2020. In 2023, the best selling models come in everything from light blue to cherry red.
It’s important to highlight that Fender’s American Professional II range of Stratocaster and Telecaster guitars has sold incredibly well since their release in October, 2020.
Guitar gear has, understandably, also seen an incredible increase in revenue. Strings and pedals being at the forefront of the surge in gear sales, with amps and other equipment close behind.
As far as amps go, Fender and Marshall were the most purchased amongst guitarists in the US in 2020.
Since then, Fender amps have increased in popularity, making up nearly a third of the amps sold on sites like Amazon, Sweetwater, and Guitar Center. The majority of the other amps are budget, portable amps by smaller companies.
The bestselling pedals continue to be reverb and delay pedals, with Strymon and Boss, which recently beat TC Electronic in the number of online purchases.
It’s not just new guitar and gear sales that have increased. The used equipment sector has also seen a substantial rise in the trading of guitars, amps, and pedals.
The sad truth is that not every fledgling guitarist will persist with their newfound hobby. This means that many guitars will soon find their way onto second-hand marketplaces.
Online platforms such as Facebook Marketplace, Amazon, and eBay, have traditionally claimed this marketplace. However, yet again, Sweetwater has been finding success in the secondhand market.
In 2022, they launched their Gear Exchange page. Aiming to be a more reliable alternative to other sites, it has been quite successful.
It’s too early to tell now, but Gear Exchange has a lot of potential to change the secondhand market in years to come. In general, one can anticipate that the used guitar market is set to grow exponentially over the coming years.
Historically, the guitar-playing universe used to be dominated by men. However, these numbers have changed at a breakneck speed since the pandemic.
According to the Fender Play app, roughly 45% of those who started playing guitar in 2020 were female. That’s 15% more than those who took up the instrument in 2019.
This alone is quite exciting. But the numbers continue to increase — in 2023, the numbers are almost even, with 49% being women. The smaller 4% increase is probably due to work life “getting back to normal” post-quarantine; still, the growth is palpable and active!
An interesting phenomenon has also happened among age demographics. In 2020, Fender’s Play app attracted the attention of many players under 24.
At the same time, 70% of its users were 45 or older. It could be that the 45+ group are those who always wanted to play guitar but never had time.
Either way, according to NAMM data, the average guitarist’s age is now 30. Both 24-or-less and 45+ groups continue to play, but it seems they’ve both inspired the age between them too. It’s exciting to see such a large growth of interest in the younger generations!
It’s also interesting to note that 46% of guitar sales from 2020 to 2022 have been from the Asia-Pacific region. There isn’t a lot of data out there about 2023 regarding this topic, but it’s reasonable to expect this trend to continue.
The leading markets in 2020 for sales of electric and acoustic guitars as a whole were (in descending order):
Guitar teachers were forced to change their strategy in 2020, with many taking their lessons online. Some gave lessons via video calls, while others started YouTube channels to inspire the next generation of Pete Townsends.
However, many beginner guitarists in 2020 turned to innovative mobile apps for guitar instruction.
Fender Play is one such app launched in 2017 to supplement its already established service offering. The app provides access to lessons in guitar, bass, and ukulele, given by well-known industry professionals.
On 21 March 2020, Fender offered a 3-month free trial to the first 100,000 people to register on the app. Those 100,000 slots were filled within 24 hours.
The company then increased the number of openings for the 3-month free trial to 500,000 on 27 March 2021. And those additional 400,000 openings were taken within a couple of days.
Then on 9 April 2020, they increased the number of free trial registrants to 1 million. They capped at 930,000 in June 2020. All of this was done to provide an outlet for those stuck in lockdown and quarantine. Fender also wanted to inspire a new generation of guitarists.
The Gibson App also experienced a spike in sign-ups during 2020, with 50,000 installations on Android devices alone. The Gibson App includes guitar lessons, Gibson TV, and more.
Another popular app offering music lessons is Yousician. In 2020, the app drew in 5.5 million new users. Now, after only three, they have 20 million users— a 363% increase!
Clearly, online lessons and apps are creating a brand new paradigm for how music is learned, taught, and inherited.
The increase in compounded annual growth rate (CAGR) for guitar sales is projected to reach a minimum of 7.7% in the next 6 years. Just four years ago, this figure was 3.6%. However, I feel that even 7.7% is conservative given the immense popularity of the instrument recently.
People have, and always will have, a strong connection to music. This sentiment is evident when you examine what has transpired over the past four years regarding guitar sales.
Playing this beloved instrument has likely brought people some form of comfort and joy during a difficult time.
But I suspect that intimate online performances and virtual events will continue to play a vital role in music. These will continue to increase accessibility to the best musicians and performances on a global scale. This level of access can only inspire and motivate new and seasoned guitarists to practice and improve their skills.
So many have either been introduced or reintroduced to this revered instrument. And it’s easy to understand why this overwhelming renewed interest is set to strengthen the industry for years to come.
About Sam Poole
Sam is an experienced writer and a keen musician. She loves listening to everything from The Beatles to Tool, although the former is her favorite band. Sam started with the piano, and has also played guitar extensively. More recently she's picked up the bass guitar, and is currently exploring the instrument in her free time.
Wow!
This is a very comprehensive article. I did not read the entire article because I am lazy, so I did not notice any reference to the seemingly decrease in inventory at brick-and-mortar shops. Online shopping is convenient for purchases but not so much for demos. I find that I expend more time, energy, and money now via purchasing something online just to try it then either sending back or having to sell it because I cannot simply drive 1 hour to GC in Eugene Oregon and try something out. Reply
I would predict that the boomers will drive the next increase as they have been and are continuing to enter their “golden years” (retirement). Their generation was driving the original boom in the 60’s and now that they have the time and money, they’ll return to their love of guitars and dive back in or take it up anew. I also know many who are avid collectors of the under $200 cheap but awesome Chinese and Indonesian guitars, preferring quantity & quality to expensive name brands. One would think with so many millions of guitars being bought in the last few years that there would have to be a bust- how many can the market absorb? Reply
“Dad” or “no dad” does not come into play here. It’s just numbers of sales. At one point in the article it states “according to the Fender Play app, roughly 45% of those who started playing guitar in 2020 are female.” And, “A large percentage of this year’s beginner guitarists slot into one of two age groups. 20% of those who registered on the Fender Play app in 2020 are under 24.” So it stands to reason that these are the people buying guitars, not the dads. Reply
Hank CastelloThis paragraph seems confusing..
[Sweetwater CEO, Chuck Surack, has confirmed that for most of 2020, they were shipping out anything from 15,000 to 20,000 orders per day. And, from May 2020 to June 2021, they have been selling in the region of 1,000 guitars per day.] Did guitar sales drop to 1/20th in May & June, or are you comparing total instrument sales of which guitars represent only 1/20th? Reply
I played in high school 55 years ago, in 2020 I decided to buy a cheap Squier after not playing all these years. In less than a year I have been thru about 10 guitars and now own 2 fender pro series strats, a custom fender/squier strat, and 2 Kents, like the one in high school. I have a couple of amps, but upgraded several times. Many thanks to guitar center, ebay and reverb. Rock on. Reply
Bravo Greg! I did the same (recently hit the reboot button on playing). Dusted off the old guitars, then promptly bought a few more. Reply
Bob Nelson“We are a small team of passionate musicians.” Having not seen y’all play, I can’t vouch for that. But your team, specifically Sam Poole, seem to be phenomenal guitar industry analysts. The article and research above on Guitar Sales Stats 2022 is the best industry report I have been able to find anywhere. Congrats on truly providing “helpful advice on creating and promoting music” as promised. This report is definitely helping me in promoting guitar playing among the 90% of budding guitar players who typically quit within 6 months of buying their first guitar. Bob Nelson
Zealot Interactive Reply
This article focuses on the old ‘Dad Rock’ guitar brands as illustrated nearly 3/4 of those that use Fender Play app are over 45 as reflective in the instruments and want to learn 70s classic rock boomer bending on vintage-style classic instruments. The young kids you see on YouTube and everywhere else are swarming to brands like ESP, Ibanez, Schecter and others in fact ESP has a huge market share. These guitars are offered with more innovative features like colours, multiscale, 7 & 8 strings and more this is driving the market for the young generation where things are evolving in exciting directions. Reply
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