Best Buy finally realizes vinyl is cool again
We thought the whole "vinyl is back" movement was years ago. Heck, even Time magazine was writing about it in January 2008. Apparently Best Buy just realized that people still love vinyl and they are going to try to capitalize on a trend that started long ago.
Best Buy says they are considering devoting more space in their stores to vinyl records after a test run in some stores proved successful. All stores would have a total of eight square feet of merchandising space devoted to vinyl records. That comes to just under 200 albums.
More from the New York Post:
The consumer-electronics giant, which happens also to be the third-largest music seller behind Apple's iTunes and Wal-Mart, is considering devoting eight square feet of merchandising space in all of its 1,020 stores solely to vinyl, which would equate to just under 200 albums, after a test in 100 of its stores around the country proved successful.
Though vinyl represents less than 5 percent of Best Buy's music sales, the format is growing while CD sales continue to shrink.
Vinyl sales grew 15 percent year-over-year in 2007 and 89 percent in 2008, making the 1.9 million vinyl albums purchased last year the most since Nielsen SoundScan began tracking sales in 1991. This year is shaping up to be even better, with 670,000 vinyl albums sold through mid-April.
We decided to do a little comparison shopping to see how Best Buy's selection stacks up to their more local competitors. Minneapolis's Electric Fetus makes Best Buy's possible selection look, well, pathetic to say the least.
Bob Fuchs, Electric Fetus music retail manager, says they have 300 square feet of vinyl merchandising space with 1,600 new records and 2,000 used.
The store is in the process of expanding their vinyl section too. By the end of May, the store will feature 500 square feet of vinyl. That's up to 6,000 titles to sift through.
Take that, Best Buy.
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