Fort Wayne, IN (January 27, 2023)—Wrapping up its 2022, Sweetwater reports it had a strong year of growth despite the economy, answer challenges with new programs, its first distribution center outside of Fort Wayne, and more.
Over the course of 2022, Sweetwater served more than 1.6 million people, resulting in $1.57B in sales for the year—a revenue growth of 9.5% year over year. 2022 additionally marked the third consecutive year that Sweetwater broke the $1B revenue mark, which the company attributed to its focus on customer service satisfaction.
Sweetwater Donated to 400-Plus Organizations in 2022
The retailer also launched the Gear Exchange in July 2022, allowing musicians to buy and sell used gear. Meanwhile, the Band & Orchestra program initially launched in 2021 also experienced significant growth over the year, serving more schools and students. Later on, in October of 2022, Sweetwater opened a Distribution Center in Arizona, the first-ever facility outside its headquarters in Fort Wayne, Indiana. The new distribution center has aided Sweetwater’s ability to serve West Coast customers, and has shipped nearly 50,000 orders in three months while also creating nearly 100 new jobs.
Internally, Sweetwater saw a record number of promotions, increased its 401k company match percentages, launched management development courses, and added a new tuition reimbursement program. The retailer also focused on helping others outside the company as well, as it continued its philanthropic support of more than 400 music, arts, education, and social services agencies, giving monetary donations of more than $750,000 and an additional $60,000 worth of instruments and audio gear to schools, music programs, and other groups.
