With sales of Vinyl LPs on the rise, Best Buy might soon be offering costumers the opportunity to purchase their new favorite records on wax. Fresh!
Best Buy recently tested out selling vinyl in 100 of its stores and after some success, the company might decide to step things up a bit by going retro. According to a New York Post article, Best Buy is considering giving up some merchandising space to around 200 albums in its 1,020 stores for vinyl sales.
CD sales have been declining each year with the increase of downloads online. Although vinyl sales will never be able to make up for these loses, a boost in revenues could at least make things seem a little bit better in the morbid music biz.
As the LA Times reported a few months back, SoundScan predicts vinyl sales will reach 2.8 million units in 2009. That figure is up from 1.9 million in 2008. Vinyl sales so far in 2009 have gone over 1 million. At this point last year, vinyl sales stood at 701,000 copies. Looks like this might actually pay off.
Best Buy is the third largest music retailer, after Apple’s iTunes and Wal-Mart.
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