End of an era? Best Buy set to stop selling CDs

And Target could follow.
Author:
Updated:
Original:

What's happening?

Best Buy is reportedly going to stop selling CDs, with Billboard reporting the Richfield-based retailer has informed music labels it will pull them from its stores on July 1.

It will continue to sell vinyls for a further two years, the website notes, honoring commitments it has made to vendors.

Is this surprising?

Not really. Ever since the advent of music streaming and the introduction of the iPod, CDs have been on borrowed time.

That said, it was only in 2014 that digital music sales outstripped CDs for the first time, according to Motherboard, so they have remained pretty resilient despite the rise of online sales.

Billboard says CDs now only make up about $40 million of Best Buy's sales, whereas in the past it was one of the core pillars of its business.

This is another step in what is looking like a much-different future for the electronics retailer.

GoMN spoke to retail experts in summer 2016, who said that in 5-10 years time they expect products like CDs and DVDs to disappear from Best Buy's shelves.

The rise of online giants like Amazon are eating into Best Buy's business, but it still has a big role to play in the electronics market going forward thanks to the success of its Geek Squad.

Will Target follow?

Another Twin Cities retailer, Target, is also considering major changes to its CD offering, according to the same Billboard report.

The Bullseye is rumored to have issued an ultimatum to labels that would see it implementing consignment-based sales – only paying for the CDs that it sells, rather than its current model of paying for all the CDs it is shipping within 60 days.

GoMN has contacted Target for comment.

Next Up

Ibraheem Farah Hamza _Khalifa CROP - booking photo, Olmsted County Adult Detencion Center June 16 2021

Man charged with 7 felonies after dramatic scene near rural MN airport

A police officer fired their weapon during the incident. Nobody was struck.

milk bar cake crop

Famous Milk Bar bakery hosts pop-up in Twin Cities

The virtual event only lasts for a few days, with limited quantities available.

Flickr - police barricades dismantle uptown - Chad Davis

MN National Guard soldiers 'standing by' to respond in Minneapolis

Mayor Jacob Frey asked Gov. Tim Walz for National Guard support Wednesday.

tom burke

Charges: Wisconsin star, former NFL player sexually assaulted a child

The child told her mother about the assaults in February, charges say.

Screen Shot 2021-06-14 at 8.45.06 AM

Charges: Drunk driver accelerated 'to jump barricade' in crash that killed protester

Prosecutors say it was "an extreme and violent intentional act."

Screen Shot 2021-06-16 at 9.29.50 AM

Through little fault of its own, Minnesota BBQ joint goes viral

A picture of its ribs was enough to attract the attention of the culinary world.

Flickr - COVID vaccine Joint Base San Antonio

More than 3 million Minnesotans have had at least 1 vaccine dose

The milestone comes almost 6 months to the day since the first vaccine was given in the state.

Related

Best Buy just stopped selling unactivated iPhone Xs

It comes days after the company slapped a $100 surcharge on the $999 phones.

For the first time, Best Buy will sell TVs on Amazon

The Minnesota company is teaming up with the online giant.

Best Buy is ending its Gamers Club Unlocked discount program

It's a blow for gamers, who get decent discounts in exchange for a 2-yearly fee.

Best Buy is selling an app-controlled evil R2-D2

The sought-after gadget will go on sale next month.

Best Buy is selling an app-controlled evil R2-D2

The sought-after gadget will go on sale next month.

Best Buy is closing its Mall of America store

It's come to the end of its 10 year lease.

Best Buy

Best Buy the latest retailer to announce Thanksgiving closure

It follows on from the likes of Target and Walmart.

Best Buy confounds expectations with huge rise in sales

But it's not all good news for the Richfield retail giant.