Global Music Recording Industry Revenues: 2001-2019 ($ Billion). About $400 million of revenue will come from digital downloads in the US by 2024. General Merchandise . Copyright Office. . Amazon sales statistics for the first quarter of 2021 show that every minute Amazon earns around $837,330. August 17, 2021. Online travel services, financial brokers and dealers, and . Now that it's gone public, Korean music company Big Hit Entertainment will be delivering quarterly financial results. Since then, due in large part to streaming, revenue has grown to $20 billion in 2019, back in line with 2004 levels. Radio is also a popular way to listen to music. Fox Theatre, St. Louis, MO 12-10-71 (3-CD) $34.98. Copyright provides its owner(s) with exclusive rights for a period of time. Groups like BTS, EXO, and many more took the world by storm. Etsy revenue statistics. Online music instrument and gear sales rose dramatically in 2020. . Amazon defines this as: Includes product sales and digital media content where we record revenue gross. Nowadays, artists can release their songs through streaming platforms like SoundCloud, Spotify, YouTube, and more without the fear of not having full ownership of their works. It consolidates Statistics Canada data and provides a summary of key performance measures for retail trade by sales sector and province. Bravado. Long car rides, a night out with friends, parties and celebrations—what do they have in common? It's difficult to predict the future. Grateful Dead. Found insideDoes this revolution herald the collapse of culture, as some commentators claim? Far from it. In Digital Renaissance, Joel Waldfogel argues that digital technology is enabling a new golden age of popular culture—a digital renaissance. Today more than…, With the explosion of remote work, it has become more difficult than ever for employers to ensure that their employees are working to the best of their ability. For the first time, Appetite for Self-Destruction recounts the epic story of the precipitous rise and fall of the recording industry over the past three decades, when the incredible success of the CD turned the music business into one of ... It's much easier to track what we're talking about in droves today, the narratives around which will often influence our decisions and manifest into action tomorrow.. The music industry has experienced a dramatic turnaround over the past five years. At the start of the pandemic, audio streaming saw a decrease in listening hours as consumers drove less and focused on other platforms (e.g., video streaming) and forms of entertainment (e.g., TV and video gaming). 25% yoy in 2020, mainly driven by a 75% yoy decline in live, while we forecast recorded music and music publishing to post moderate growth rates of +3% and +3.5%, respectively. Before signing the licensing deal, the NMPA claimed that approximately 50% of the music publishing market was unlicensed with TikTok. Subscription implies consent to our privacy policy. Streaming music grew to 85% of the market by value, compared with 80% the prior year. As an example, if an artist were to receive a 15% royalty on albums, and the royalty base price was $10.00, then the per-unit royalty would equal $1.50, meaning the artist would receive $1.50 in . The three “major” record labels and publishers have seen industry trends begin to play out in recent earnings reports. Previously, selling records was simple: buy a CD and that purchase will be tabulated in that week’s Billboard Hot 100 and in Nielsen SoundScan. The biggest music trends to watch in 2020. Each month we help +100k companies to find efficient online tools. At wholesale value, revenues grew 5.1% to $3.7 billion. Music royalty fund formation has increased significantly over the past several years. Found inside – Page 6-58CHILDREN'S INFANTS ' WEAR STORES MISCELLANEOUS APPAREL , ACCESSORY STORES . FURNITURE HOME FURNISHINGS , EQUIPMENT STORES 12 ... MUSICAL INSTRUMENT STORES . "Album sales were steady and official merchandise sales . For our 2021 retail industry analysis, Deloitte interviewed 50 retail executives and 15 of our retail subject-matter specialists to address what the retail world may look like with COVID-19 in the rearview mirror—and what retailers may expect as they plan for 2021 and beyond. Metadata Updated: March 11, 2021. Found inside – Page 32-108DEALERS 53 PART * GENERAL MERCHANDISE GROUP STORES * 54 FOOD STORES 55 ... 65 29 30 3.046 4.712 11,217 9.995 3.028 2.732 4,220 9,243 9.941 2,020 33 27 147 ... Key eCommerce Statistics in 2020. Etsy acquired Reverb, an online marketplace for musical instruments, for $275 million US dollars in 2019. The average cart price was $89.20. Lil Nas X’s song “Old Town Road” featuring Billy Ray Cyrus is the longest-charting number one song in the Hot 100 with 18 weeks. With capital pouring into the space, music IP acquisition activity has been hot. "From streaming platforms to advertising to fan experiences, this will be key." From phonographs to Walkman to Spotify, these are just a few of the milestones the music industry has gone through. With more people streaming albums and songs on services like Spotify and Apple Music, labels and artists alike are troubled. All New for 2020 This two-part report includes: 1) A list of the leading 225 music companies around the world, ranked by the most recent full year revenues - plus employee count, CEO, base country, and web address for each. Even in the streaming era, there is still a portion of the population that are fond . Found inside – Page 9-17ANALYSIS OF CASH AND CREDIT SALES AND BALANCES DUE , BY KIND OF BUSINESS ... 63 7 40 136 27 20,670 6,384 344 2,636 10,689 617 2,020 454 ( x ) 379 1,032 ( x ) ... Grateful Dead. Found inside – Page 33-98Variety stores-Miscellaneous general merchandise stores1 1 533 539 4 3 Coa ... 9 Miscellaneous automotive dealers-58 417 65 2 722 2020 14 2 6 4 3 3 2 58 417 ... More than 44 million customers bought from Shopify merchants, which is up 50% on the previous year. Spotify Monthly Active Users (MAUs): 2017-2020 (Q2). Universal Music Group was the only label to see revenue increase year-on-year up to June 30, 2020 (+6%), while Sony (-12%) and Warner Music Group (-5%) reported declines. According to the International Confederation of Societies of Authors and Composers (CISAC), publishing collections (performance royalties) increased from €6.5 billion in 2013 to €8.5 billion in 2018. Found insideA history of the record industry focuses on the label founders and talent scouts who understood the industry's dual music and business natures, drawing parallels between the setbacks of the 1920s and 1930s and the recent CD crash. In the streaming era, this ecosystem can be considered obsolete. Streaming music grew to 85% of the market by value, compared with 80% the prior year. Includes complete analysis. This means that the company makes more than $50 million every hour. These certifications are divided into four classifications: Gold, Platinum, Multi-Platinum, and Diamond in that order of magnitude. In some instances, royalty funds have also signed artists and songwriters to release new music, blurring the line between them and traditional labels and publishers. 1 For Each, Here Are the 37 Hits That Have Debuted at No. This week we got our first glimpse at detailed data from the 2020 Census, the once-a-decade headcount that determines Congressional seats, federal funding for various programs and a host of other . View Details. 16.5% of YouTube's traffic comes from the US. Includes complete analysis. In addition to retailing merchandise, some types of store retailers are also engaged in the provision of after-sales services, such as repair and installation. This is on top of wage management, employee engagement activities, career mapping, and other duties. "In line with the power of the data we now have, I really feel that unique and personalised experiences are going to be essential to marketing in the 2020s," Karen Lieberman, VP of sales and digital at Disney Music Group, told Music Ally in late 2019. Shania Twain is the top female soloist with 3 Diamond certifications. As a result, Spotify’s Q2 2020 premium revenue increased by 17% year-on-year. Taylor Swift, for example, managed to still cross the 1 million pure first-week sales for her 2017 album, Reputation. In the first half of 2020, U.S. recorded music revenues grew 5.6% to $5.7 billion at retail value, continuing the positive growth trends of recent years. March 2, 2021. Ecommerce will make up 22% of global retail sales by 2023. Its view is corroborated by Goldman Sachs, which projects live music revenue to decrease 75% in 2020 before recovering in 2021 or 2022. (Amazon, 2020) Japan (47%) and Germany (35%) are the two markets with the highest intent of purchasing physical copies. Revenue from physical album sales declined by -15% in 2019. In 2018, the US Census Bureau estimated that the revenue of US music publishers was $6.12 billion. Sirius XM, the satellite and digital radio broadcaster, saw total company sales decline 5% year-on-year in Q2 2020, driven by a 34% decline in advertising revenue. 50% of people with an income of $100,000 or more are country fans. Found inside – Page iKeep this practical guide on hand while you: Use an analytically optimized process to have the right garment, in the right location, at the right price when the customer wants it Engage with your customer to communicate the most relevant ... These country fan financial stats don't mean that you can get rich just by tuning in to your local country station, but it does suggest that if you want to get . While COVID-19 has created several challenges, the industry is holding up relatively well with several new licensing opportunities on the horizon. The market has been severely impacted by 2020 lockdowns, with Live Nation experiencing a 98% year-on-year revenue decline in Q2. In 2019, Ed Sheeran sold about 2.5 million tickets. Found inside – Page 445Notes on the data In June 2019, the monthly retail sales estimate is based on the ... They were always imprecise for retail sales, since general merchandise ... Found insideThe Customs modernization provisions has fundamentally altered the process by shifting to the importer the legal responsibility for declaring the value, classification, and rate of duty applicable to entered merchandise.Chapters cover entry ... $322 billion. Data from eShopWorld has revealed that cross-border ecommerce sales grew 82% year-on-year in 2020, as globally optimised retailers cashed in on new opportunities. Found inside – Page 7PAUL Establishments , Sales , Annual Payroll , and Employees , by kind of Business 19581 ... 13 53 part 2 531 533 539 General merchandise group stores ” . Global shops growth selling this product (YOY): 109.7%. More than 1.2 trillion songs streamed on-demand in 2018. The annual growth of the industry’s revenue from streaming somehow mirrors the growth of the number of paid subscribers across all music streaming platforms. Further protections are given under law once the work is registered with the U.S. Digital music revenue in the U.S. from 2008 to 2020, by type; Digital music track sales in the U.S. 2008-2020; Digital album sales in the U.S. 2008-2020; Mobile music revenue in the U.S. from 2005 . Light Into Ashes: Fox Theatre, St. Louis, MO 10-18-72 (2-LP) Streaming accounted for three-fourths of the total industry revenue in the US in 2018. The record for most attended concert belongs to Vasco Rossi with an attendance of 225,173. Ultimately, Pollstar predicts the year . The music recording industry presents a great example of how businesses must continually transform and adapt to change. From then on, the music industry has continuously evolved over the centuries. Business Summary Data is based on Data Axle's® January 2020 data release. Wall Street has been taking notice of the music industry’s secular growth story. social media users do music related social media activity, Breaking an artist into a major market can cost, Copyright © 2021 RIAA All Rights Reserved. Coverage includes all retailers whether or not they are engaged in e-commerce. 14.1% of all global retail sales are eCommerce sales. Retail By The Numbers. Furthermore, streaming and digital download margins are roughly 50-60%, compared to physical margins of 40-50%, lower due to manufacturing and distribution costs. There were differences in trends between Q1 and Q2 of 2020, as retail store closures, tour cancellations, and other impacts of Covid-19 affected the music industry in many significant ways. Between 2007 and 2019, global live music revenue grew by 5% annually. Radio is also a popular way to listen to music. The average industry growth of independent label music production in the US from 2014 to 2019 is 2.5%. There were differences in trends between Q1 and Q2 of 2020, as retail store closures, tour cancellations, and other impacts of Covid-19 affected the music industry in many significant ways. Digital sales dominated the Classical genre, accounting for 12% of the total album equivalent units. Monthly Retail Trade Report. There were 225 million paid music subscribers worldwide. (Amazon, 2020) Prime Day 2020 was a record-breaker for the third-party seller as they exceeded $3.5 billion in sales. This book reviews the forces driving economic and social change in today's world. Emerging markets, such as China and India, are only just starting to pay for music IP. Suggested: Learn more about benchmarks for 2020 in this year's Event Marketing Report. Rock legends like U2 and The Rolling Stones are one of the most in-demand live performers in the past century. Found inside – Page 735... classified by major lines lishof merchandise ) ments FeTotal | Male male SALES TO SALES TO ULTIMATE INDUSCONSUM ... Musical instruments and sheet music. With over 150 photos--most of which are published here for the first time--Gene Simmons and Paul Stanley take readers on an intimate tour of the early days of KISS. Full color and b&w. There have been modest disruptions to streaming as a result of COVID-19. These licensing deals create exciting new future sources of income for music IP owners. For example, Live Nation, a leading live entertainment company, experienced a 98% year-on-year revenue decline in Q2 2020, driven by global concert shutdowns. The Rolling Stones concerts have the most expensive tickets with an average price of $624. Given a dramatic boost by the COVID-19 pandemic, this is forecast to grow dramatically over the next 5 years, as more companies adopt marketplaces as the best platform to promote online sales. The label will then fund an artist’s work, in return for the master license to the songs and albums published within the timeframe in the contract. Minecraft key statistics. Zooplus has raised their 2020 financial guidance for the second time in a row as a result of COVID-19-driven sales In total, Zooplus currently expects a plus of €240m in sales compared to FY 2019, resulting in total sales of around € 1.8 billion in 2020 In May, Zooplus revised its 2020 sales growth forecast by €45 m and Even in the streaming era, there is still a portion of the population that are fond of radios both online and in the airwaves. Etsy acquired Reverb, an online marketplace for musical instruments, for $275 million US dollars in 2019. The RIAA certified that “Despacito” by Luis Fonsi & Daddy Yankee sold over 13 million copies, making it the highest certified Diamond single. According to various year-end reports, streaming is showing no signs of slowing down. After piracy and unbundling drove 15 years of revenue decline, the global industry has returned to growth, primarily due to streaming. [ 1] Found inside – Page 151... in its stores through the unique ambience including the staff, merchandising, and music. In 2018, according to statistics provided by the Trefis Team, ... These platforms offer compensation for artists who upload their work based on the number of views or streams it received within a certain period. The music industry, by its definition, is a group consisting of various companies, producers, and artists that aim to create and sell new kinds of music, concert shows, and more. Top country: United States. “I Gotta Feeling” by the Black Eyed Peas is iTunes best-selling song with 31 million copies sold. As streaming continues to take a greater share of sales, the majors’ operating margins will benefit. The company operates through three reportable segments namely; Walmart U.S., Walmart International, and Sam's Club. Found inside – Page 65First half (1H)2016 streaming music revenues totaled $1.6 billion, ... on 2016 Mid-Year RIAA Music Shipment and Revenue Statistics,” Recording Industry ... Meanwhile, music royalty funds focus on acquiring existing music rights with a history of stable cash flows. Inside the results, all three attributed positive growth trends to streaming, but pandemic-related lockdowns negatively impacted non-digital revenues, especially in the areas of merchandise, physicals (e.g., CDs), and artist services. Minecraft's Chinese edition, which is a free game, has been downloaded over 400 million times. According to the Global Licensing Survey 2019, produced by trade body Licensing International (formerly LIMA), worldwide retail sales of licensed goods based on music properties were worth $3.48bn in 2018, up from $3 . Found inside – Page 39-515 ( number ) Establishments Sales Payroll , entire year ( number ) ... ( D ) 206 ( D ) ( D ) 5 473 92 31 53 part 531 533 539 General merchandise group stores ? 20-26, soon after the US government advised Americans to avoid group gatherings, only 180,000 records were . People, institutions, and businesses flourish when communication lines are open. Songs keep getting shorter. Found insideKeep a really good record of your sales, merchandise sales and fan base statistics. Websites like soundcloud allow you to check all sorts of data and see ... On-demand streaming gained a positive 29.3% growth in 2019. Before the dawn of the internet and streaming, for an artist to get famous, they need to sign a contract with a label. The June 2021 Monthly Retail Trade and Food Services report was released on August 17, 2021 at 8:30 a.m. for sales and 10:00 a.m. for inventories . However, her 2019 album, Lover, failed to cross the 1 million mark with only 679,000 pure sales in its first week. 22% of global retail sales will be thanks to ecommerce by 2023. The global kitchen towel market is expected to reach a value of $20.9 billion by 2026, according to the latest reports. Total employment in the UK creative economy increased to 3.2m jobs in 2018. All B2B Directory Rights Reserved. In 2020 many planners saw their budgets negatively impacted by the pandemic. Breaking an artist into a major market can cost $2 million. [ 1] 69% of Etsy sellers consider their Etsy shop to be a business. Merchandise sales are also adjacent to music copyright. Found inside – Page 93Internal Revenue Service ... Farm equipment dealers General merchandise stores Mail order houses .... Automatic merchandising machine operators . 50+ Eye-Opening Branding Statistics - 2021 Edition. Goldman Sachs’ “Music in the Air” analysis notes that paid streaming penetration rates in China and India are currently 4% and 3%, respectively. At 8th place, Taylor Swift was the only artist that debuted this century to make the top 10 of Billboard’s Greatest of all Time Artists list. At the peak hour for sales of the weekend, $102+. Experts predict that Etsy's revenue will grow 22% between 2019 and 2021. For more information, see COVID-19 FAQs.. Despite the gulf in spending, IFPI reported strong 2019 recorded music revenue growth in China and India of 16% and 19%, respectively, attributed to progress in copyright enforcement and streaming adoption. Technological advances driven by streaming have ushered in a period of growth. Whether you're searching for concert tickets, vinyl records, DJ gear, musical instruments or CDs, eBay's convenience and great prices will hit just the right . In January 2018, the CRB ruled that on-demand subscription streaming services (e.g., Spotify and Apple Music) must increase the percentage of revenue paid to songwriters and publishers by 44% to 15.1% of revenue over the five years of 2018 to 2022. The emergence of music streaming disrupted the relatively straightforward business model of the music industry then. To . At the same time, other forms of music consumption, especially live, have suffered. A touring artist can make good per-head money in merchandise sales at concerts. The global music recording industry is back in growth territory again. Found inside – Page 25... AND NET PROFIT , BY INDUSTRY - Continued ( Money amounts in thousands of ... 1,068 3,472 21,395 59,139 23,165 62,294 862 2,460 2,020 5,813 250,957 6.9 ... That was up by 15.6% on the $1.109bn streaming haul the company posted in the same period of 2019, according to MBW's calculations based on Sony Corp's latest quarterly results. RIAA members create, manufacture, or distribute sound recordings representing approximately 85% of all legitimate recorded music consumption in the United States. In 2017, 658 new artists signed to major labels. 1s, Doja Cat’s ‘Say So,’ Featuring Nicki Minaj, Tops Billboard Hot 100, Becoming the First No. This article will further discuss this through various statistics about the industry below. Found insideHow has the music industry been transformed by the economic and technological upheavals of recent years, and how is it likely to change in the future? This is the first major study of the music industry in the new millennium. According to the International Federation of the Phonographic Industry (IFPI), recorded music revenue returned to growth in 2015, after nearly two decades of piracy-driven declines. Experts predict that Etsy's revenue will grow 22% between 2019 and 2021. Latin music revenues in the U.S. continued to grow for a fifth consecutive year in 2020. According to IFPI’s 2019 Global Music Report, China was the seventh-largest music recording market, and India was not even in the top 10, despite having the world’s two largest populations. Relatively speaking, she still did well compared to her peers. And audiobooks aren't the only audio format gaining in popularity. In short, the M&A market is very active, with BMG’s CEO Hartwig Masuch even calling the current environment “a feeding frenzy.”. Found insideThe Use and Abuse of Statistics in the Music Industries Richard Osborne, Dave Laing ... category includes the sales of merchandise such as programmes, ... The convenience and personalization of music streaming, combined with the accessibility afforded by smartphones and smart devices, has driven recorded music’s growth. Found inside – Page 6-76( D ) 16 ( D ) GENERAL MERCHANDISE GROUP STORES 53 PART * 531 533 539 TOTAL DEPARTMENT ... STORES HOUSEHOLD APPLIANCE , RADIO TELEVISION , MUSIC STORES . Independent labels employ about 3,900 people. Post Malone - Sunflower - Spider-Man: Into the Spiderverse. The reason for that is, one stream is not equivalent to one song sale. Prominent royalty funds include Hipgnosis Songs Fund, Round Hill Music, Kobalt Capital, Tempo Music Investments, and Shamrock Capital. Pipeline Business: How to Leverage Your Network, Crypto Exchange Wars: How Coinbase Stacks Up Against Its Rivals, Thinking of Using a SPAC to Go Public? Smart Speaker Surge: Ownership Expands To One In Four Americans. Etsy: mobile share of gross merchandise sales 2013-2020 Leading retailers worldwide 2020, by mobile web traffic Share of time spend on U.S. retailers mobile apps vs. mobile websites 2019 Found inside – Page 20-415 ( number ) Estab lishments Sales Payroll entire year ( number ) ... 1 827 673 812 135 278 39 581 2020 696 432 137 962 52 31 Lumber , building materials ... They're all better with music! Inside the results, all three attributed positive growth trends to streaming, but pandemic-related lockdowns negatively impacted non-digital revenues, especially in the areas of merchandise . R&B/Hip-Hop with a 27.7% share is the most-consumed genre in 2019. The biggest record labels like Universal Music Group, Sony, Capitol, and many more are found in the US. Indeed, the modest decline in engagement measured by listening hours has not impacted consumers’ willingness to pay for audio streaming. 2) Basic sales and demographic data on 43 countries where music products are sold. Sales of music merchandise were worth nearly US$3.5 billion in 2018, IQ can reveal, as controversy continues to rage over bundling and its impact on record and box-office charts. Every year, hundreds of artists start their tours around the world to perform in front of thousands of their fans. It started on an optimistic note with most predicting that the robust economy would fuel solid sales growth. Each year, billions of dollars are reported as the industry’s annual revenue—writers, producers, artists, labels, and more benefit from the continuous patronage of music fans around the globe. They sign performing artists and songwriters and help them create and monetize new music. In 2019, digital sales revenue declined by -23.5%. According to a report last year from Licensing International, a trade group that tracks sales data on licensed merchandise, music merch was a $3.5 billion industry in 2018, up from just more than . Goldman Sachs projects global live music revenue to decrease 75% in 2020 before recovering in 2021 or 2022. If the trend continues, China and India will increasingly grow as a revenue source for the industry. Shania Twain’s “Come On Over” is RIAA’s highest certified Diamond album from a solo female artist with over 20 million units sold. In a future article, I will go deeper into the asset class of royalties and, in particular, why music royalties are considered an attractive asset class in the current market environment. The convenience brought by the advancement of technology was both a boon for music lovers and, somehow, a bane for the industry. We expect a strong rebound in outer years (+26% in 2021, +18% in 2022) with the live music industry nearly returning to its pre-COVID-19 level by 2022. At the high end, Taylor Swift makes an estimated $17 per . Last year, Etsy's annual merchandise sales volume totaled $4.97 billion US dollars. Country fan's homes have average value of $228,586. Basically, The Music Fund is betting that its returns will be solid across . For artists and labels, certifications and chart positions are great indicators that their song is a massive success. has not yet released its gross merchandise sales (GMS) data for the fourth . One of the prominent chart makers is Billboard. Now cryptocurrency is getting very volatile, and keeping up with an unsteady or probably manipulated market, MONDE-GOLD. IFPI notes that global streaming revenues grew at a 42% CAGR (compound annual growth rate) since 2015, compared to the entire recording industry’s 9% CAGR. COM is definitely the smartest way to go. Physical or pure sales are dying. Net sales from third-party seller services on Amazon grew 53% year-on-year during the third quarter of 2020. Our 2023 “My Life Would Suck Without You” by Kelly Clarkson holds the record for the biggest jump to number one when it debuted at #97. Last year, Etsy's annual merchandise sales volume totaled $4.97 billion US dollars. In the first six months of 2020, Etsy sales grew 71% YoY. Kitchen towels saw huge growth in the last half of 2020, and the new trend doesn't look like it's ending soon. The way people consume music has drastically changed over the years. Online sales in the United States have surged in recent weeks, after shelter-in-place measures enacted in March shuttered brick-and-mortar stores throughout the country. Garth Brooks remains as the artist with the most Diamond certifications with eight. 75% of country fans own a home. A young company emerging in such a tough market can find it difficult to establish itself. Found inside – Page 22-42546 5462 5463 Retail bakeries Retail bakeries -- baking and selling ... 47 595 7 593 1 842 971 Apparel and accessory stores Men's and boys ' clothing and ... Found inside – Page 5-405392 I GENERAL MERCHANDISE STORES ** . ... 3.955 ( 0 ) 156956 141.366 9.643 ( D ) 811 1.045 3.276 ( D ) 2.482 2.156 159 ( D ) 31 26 92 ( D ) 2020 1.757 142 ... Experts predict that by 2024, almost $5 billion in revenue will come from streaming. Several positive catalysts for music IP rightsholders are currently on the horizon, including: There are new licensing opportunities for music IP owners that are just starting to emerge. Sony's recorded music streaming revenues reached $1.282bn in the first half of calendar 2020. Thank you!Check out your inbox to confirm your invite. 2019 foreshadowed major shifts in music consumption habits and music production that will only intensify in the years to come. View Details. Beethoven Music Company started business in March 2021.Sales for its first year were $400,000. 73 Music Industry Statistics: 2020/2021 Facts, Sales & Analysis. 1 Industry statistics suggest that 10% of the merchandise sold to customers will be returned.Beethoven estimated its sales returns based on the industry average. Percent Change in Retail and Food Services Sales from Previous Month Data adjusted for seasonal variation and holiday and trading-day differences but not for . 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