Reverb, the largest online marketplace dedicated to buying and selling new, used, and vintage musical instruments, today announced that Reverb sellers continued to see demand for music gear online in Q3, with gross merchandise sales (GMS) up compared to the same period last year. Even as overall demand for musical instruments softened in Q3*, consumers continued to turn to Reverb sellers to find a wide range of well-priced musical instruments online, with brands and dealers that provided discounts or personalized offers seeing success throughout the quarter.
“Music makers are being more budget-conscious, but they’re still shopping for musical instruments online. We’re seeing well-priced music gear sell particularly fast—often within days of being listed on Reverb,” said David Mandelbrot, Chief Executive Officer at Reverb. “As buyers shop with a particular focus on finding good deals, our team is connecting those buyers with the inventory and sellers on Reverb that help them get the most music gear for their money.”In Q3, Reverb launched The Warehouse to highlight authorized dealers and brands selling well-priced instruments, including refurbished, B-Stock, and demo gear. The Warehouse allows dealers and brands to connect directly with buyers looking for deals and discounts from trusted sellers. As an example, Korg recently sold thousands of Opsix synthesizers on Reverb at a nearly 60% discount, selling out of the instrument in just two days. To make it easier for sellers to find the right price for their gear and help buyers feel confident in their purchases, Reverb revamped its Price Guide. The Reverb Price Guide uses sales data from millions of instruments sold on Reverb mapped to a database of over 240,000 products to provide more transparency to both sellers and buyers.
In Q3, the Reverb team also expanded its customer support channels, giving buyers and sellers the option to connect with a Reverb customer experience specialist live via phone support. The ability to request a call from Reverb follows the music gear marketplace’s recent announcement that its customer support hours have expanded.
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