With digital formats on the rise, CD sales in the U.S. were down 18.5% last year.
Best Buy, once the most powerful music retailers, told music suppliers that it plans to remove CDs from stores by July 1st.
Target is also telling music suppliers that it wants to sell CDs on a consignment basis, getting rid of inventory risk.
If suppliers don’t agree to new sale terms, the country could quickly see CD formats phased out.
While retailers evaluate their operating models, it reflects a broader shift in the industry and consumer behavior.
