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12 Feb 2024

-31.47%

China's Piano Sales Plunge

In 2023, [Pearl River Piano](https://pearlriverusa.com/), China's largest piano maker and world's best selling, experienced a drastic [31.47% drop in revenue](https://newsletter.slowchinese.net/p/piano-sales-fall-dramatically-ac2) compared to the previous year. This decline reflects a shift in consumer attitudes, largely because of economic challenges and policy changes in education. Chinese middle-class families, once major buyers, are cutting back on luxury purchases like pianos. Additionally, the cessation of consideration for musical talent in university admissions in 2018 has significantly reduced the incentive for learning to play.