Are mass merchants cause for concern: Wal-Mart, Costco, and other mega-retailers have seen an opportunity in music products. Will they expand the market, hurt m.i. dealers, or have a limited impact? The jury is out, but history holds some interesting lessons.(The Guitar Market)

Wal-Mart and Costco have moved to the top of m.i. retailer's concern list, ever since the two giants decided to increase their selection of musical instruments. And who can blame anyone for worrying? With sales in 2003 of $256 billion and 1.3 million employees, Wal-Mart is the world's largest corporation.

It is also the toughest retail competitor around, having pushed K-Mart into bankruptcy, rendered once mighty Sears irrelevant, and vanquished scores of regional general stores. Toys R Us, the original "category killer," dominated the toy business, until Wal-Mart decided to ...

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