Even though they once seemed to dominate the industry of portable electronics, portable MP3 players are not as high in demand any more. According to a report released by Apple, the company sold 12.7 million iPods in the last quarter of 2012. This number may seem to be impressive for the most popular manufacturer of these devices, but it is actually a decline from the 15.4 million that it sold within the same quarter in 2011. Industry analysts have been able to project that portable MP3 players overall will experience a global decline to a little less than 127 million units sold in 2015 due to an average annual sales decrease of 6.8%, according to a study conducted by market intelligence firm IHS. There are several key reasons why this decline is occurring at such an exponential rate.
The Enhancements of the Smartphone
One of the main reasons why there is a decline in portable MP3 player sales is because many consumers are simply using their smartphones to play music and other media for them instead. Over one billion smartphones have been purchased worldwide, according to a report by Strategy Analytics. The same exact study also projects that those sales figures could double to over two billion by the end of 2015.
Most smartphones are designed to do everything that a portable MP3 player can, regardless of the quality and specifications. The average consumer can still listen to music, watch videos, play games and download even more programs and applications than the average portable MP3 player can handle. You can also still buy and sell music online through your smartphone the same ass you can through most high-end MP3 players, such as the Apple iPod Touch.
The Convenience Factor
Another key reason why the annual sales of portable MP3 players is declining is due to the convenience of investing in other mobile devices as well, not just smartphones. The global sales of smart connected mobile devices in general have increased in recent years. At the end of the third quarter last year, mobile device sales reached over 303 million units worldwide, according to a report released by the International Data Corporation (IDC).
The vast majority of these mobile devices have the same capabilities of the average portable MP3 player. Even some eBook readers, such as the Nook and Kindle, are able to play media files as well. Therefore, instead of paying for a separate device, more consumers prefer to just use the other devices that they own to enjoy their music and media files instead.
The Shift of Advancing Technology
As technology continues to advance, there will continue to devices that become replaced as the preferred option within their respective industries. Several decades ago, CD players and laptops revolutionized the world of mobile technology overall. However, as technology as continued to advance and evolve, consumers have been able to invest in more efficient and convenient alternatives. Within the world of eCommerce businesses, it is essential to always be willing to explore the most convenient and efficient options available on the market in order to make your eCommerce business more convenient and efficient for your customers.