Digital technology has driven a multitude of innovations over recent decades and has become a central component of many business strategies, models and process. One such innovation is e-commerce – the sale of goods or services, conducted over digital networks – which has transformed how transactions are performed and altered how businesses interact with their suppliers and customers.
In the wake of the Coronavirus pandemic, demand for e-commerce is being accelerated like never before. A research study is being conducted to examine how UK SME music retailers perceive e-commerce, in an effort to understand how a critical retail sector can be supported to capitalise on digital technology in a post-Covid-19 retail landscape.
One business sector that has received very little research into its use of e-commerce is SME music retail. According to the OECD, small or medium (SME) retailers are half as likely to take advantage of e-commerce and are at risk of being left behind in an ‘omni-channel’ world.
This leaves SME music retailers in a vulnerable position. With global music revenue growth at 9.7% in 2019, global music retail’s physical revenue shrunk by over 10% according to the IFPI. Much of the growth in the music industry has been attributed to the rise of streaming popularity and some believe that the brick-and-mortar music retail industry is poised to crumble under the pressure of digital technology.
This research study, led by Alexander Reid, a Masters student at Newcastle University aims to explore how music retailers perceive e-commerce as an innovation and to examine how their level of existing digital technology adoption influences how they perceive e-commerce.
The study is looking for music retailers to fill out a short questionnaire survey. The survey will take less than 10 minutes to complete. All information will be anonymous requiring no personal information and will be securely held electronically for the duration of the study. In return, respondents can opt in to receive a detailed breakdown of how their answers compared to other retailers, as well as a copy of the research.
You can find the questionnaire survey here: www.surveymonkey.co.uk/r/LTCQZT2
By participating in the research study, you will be helping to build a valuable insight into what drives UK music retailers to adopt e-commerce, and how retailers can be better supported, at a national and local policy level.
Thank you in advance for your participation.