Wednesday, April 29, 2009
Best Buy Planning To Re-stock Shelves With Vinyl
April 29th, 2009 | Author: Edwin OrtizIt’s been no secret that CD sales continue to decline in our current market. While online retailers like iTunes hold a comfortable position in consumer purchases, physical retail stores such as Wal-Mart and Best Buy are attempting to figure out new ways to offset decreased sales. With that said, Best Buy is planning on bringing back vinyl records to their shelves.
According to the New York Post, Best Buy has high hopes for the move as 100 stores across the country had successful test runs in adding vinyl merchandise to their shelves. This experiment coincides with some staggering numbers concerning a potential rebirth in vinyl sales; in 2007, vinyl purchases were up 15% from the year before, and 2008 saw an increase of 89%, or roughly 1.9 million vinyl purchases. Through April of this year, 670,000 vinyl records have reportedly been sold.
Atlanta Records CEO Craig Kallman explained that getting vinyl records back on the shelves of major retailers is a plus for the record industry. “Our goal is to occupy as much square footage as possible with music products," Kallman told the Post.
With this new move, all major records labels are also planning on re-issuing and re-mastering classic titles, such as Jimi Hendrix’s Band of Gypsies, along with its original artwork and packaging for avid vinyl collectors.