United States retailer Best Buy bailing on CDs

07 February, 2018, 01:43 | Author: Barbara Daniel
  • Best Buy To Stop Selling CDs in July of 2018

So much so that according to a report from Billboard, retailers in the United States are looking to phase out the sales of CDs. The store, in an ironic twist, will continue to sell good ol' fashioned vinyl records for at least the next two years. While a fraction of its former self, the once dominate retailer still sold $40 million CDs annually, according to sources.

In fact Best Buy isn't the only one feeling the pinch as the report claims that Target is also looking for a way to reduce their losses. Any unsold merchandise is shipped back to the labels, again at the store's expense. Using that method, the suppliers would get paid when CDs and DVDs are sold to customers. With so many different streaming and download options when it comes to music, we asked locals about their thoughts on CDs slowly becoming extinct.

You know those CDs you no longer buy? This year we will likely see the death of another famous music format. Now, Target is trying to pass the risk to labels, by changing their operations to scanned-based trading. Most recently, Target moved half a million of Taylor Swift's Reputation, showing it can still push large titles. Streaming services such as Apple Music and Spotify have caused CD sales to plummet in recent years.

The spokesperson continued by saying the company was evaluating its operating model reflecting its continued investment in its Entertainment business. Apparently those numbers just aren't enough to justify the price of stock and the shelf space needed to keep CDs in stores.

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