Possibly.
The bigger high street outlets are also a threat remember. Foulds, one of two decent sized outlets in Derby, has recently expanded. They've opened a guitar, bass and sheet music shop in the Strand Arcade. The original shop in Iron Gate continues to sell a wide range of instruments and accessories.
I've always liked Foulds but then it is handy for me to visit. I like the new outlet even better. They've got plans.
I imagine it is getting hard for folk who don't have easy access to the larger towns and cities where such outlets can still be found. You could argue that they are causing the demand for online shopping though and look at this whole Internet is killing local industry notion with a slightly different perspective.