It's a rough time for all brick and mortar retail. Small boutique shops that specialize/focus on the best stuff available in any area of interest have all but disappeared. Fine butcher shops, delis, bakeries, lumber yards, woodworking shops, electronic supplies...you can't even buy a nice suit in most towns these days.
I think it has much to do with the reduced size and relative lack of wealth of the middle class compared to the 70's and 80's...when many of us got our audio start. It was easier to splurge once in awhile. You could pay for your car in 24 to 36mos, your phone bill was $20, and student debt was minimal. (Tuition at the best public universities was $500/semester!)
The wealthy are much better off today and many more can afford a $100k system. I'd guess the total dollars being spent on high end may be a record...but the total units have declined. It takes fewer dealers to sell fewer units. The wealthy always had the finest things delivered or by appointment. Twas the the splurges of the middle class that paid the store rent.
That said, I can sit in my chair and watch Miles Davis play full concerts from just about every year he performed on YouTube. Or listen to every recording he ever made. On demand. If it's about the music, there's never been a better time to be a fan. And IPods sound betta than the average all in one record changer in 1972.