It has, indeed. We have a few key drivers for our business as a whole. Yes, you might think, “Oh, historical piano company that has existed for a long time, what’s the new story?” Furthermore, the story is, one of steady development all along in 1853. We don’t always talk about all those innovations, but over the years, the Steinway piano just got better and better because we made a lot of small changes to how we build the piano.
This is why we say that the pianos we sell today are the best pianos we’ve ever made. However, as I mentioned earlier, this is unquestionably the most recent era of extremely rapid innovation at Steinway, particularly for Steinway, beginning in 2014. Spirio as a piece of our business developed extremely quick, about a build yearly development pace of 33% since we began in 2014. Our Steinway business now comprises fifty percent of Spirio pianos.
GEORGE: Wow. Yes, that has succeeded greatly.
ERIC: It is crucial to our development. We’re developing topographically, in China enormously, and afterward in general in different business sectors also.
GEORGE: If you are not a concert pianist, then the question becomes, “Why wouldn’t you get it if you are going to get that nice of a piano?” What’s more, regardless of whether you are a professional piano player, the high-goal recording capacity of the Spirio | r appears to make it an easy decision.
ERIC: Also, that is the thing. At the point when you take a gander at development for an organization like Steinway, while you’re selling a fine instrument, and when we have an exceptionally enormous cut of that market, we don’t need to sell musicians that they need a Steinway.
They all need the Steinway as of now. But how do you reach the much larger group of people who construct those homes and install exquisite sound systems? Additionally, what can we give them that would enable them to appreciate a Steinway piano in their own home?
So for our purposes, it’s an exceptionally consistent movement. It makes sense to talk about the progression of innovation from 1853 to the present. What’s more, indeed, the fair truth is, it’s immensely affected our business. just for that reason, a significant impact. We significantly increased the Steinway target market.