Economy

Best Buy to stop selling CDs, Target may be next

Best Buy to stop selling CDs, Target may be next

The format can still be found in homes, but new sales of audio compact discs are on the decline in the USA and now Best Buy is doing something about it.

Best Buy is not the only retailer considering a sharp shift in its music retail strategy.

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As physical music sales continue to fall as digital and streaming media gain more popularity, the Billboard story also says that Minneapolis-based Target is now demanding that music suppliers provide CDs to it on consignment so it doesn't take on the risk if the products don't sell. Billboard reports an 18.5% drop in the previous year alone. For those of you who still have CD collections, hold them closely. There is absolutely a benefit to having access to almost anything you'd like to listen to for a small monthly fee. The store is committed to carrying records for the next two years. Currently, Target agrees to pay for any goods they're shipped within 60 days, and they have to spend money to ship back unsold CDs. What that means is, Target would only pay for an individual CD or DVD once it is scanned and sold to a customer. Target offered a similar ultimatum to digital video suppliers.

As the digital age of music only continues to get stronger, the idea of going out to your favorite store and purchasing a CD seems like an archaic idea. According to the same report, the retailer Target is cracking down on disc sales by giving suppliers a hard choice: switch to a consignment-based arrangement or risk losing the retail franchise entirely. Tell us what you think in the comment section below, or on Google+, Twitter, or Facebook.


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