Let’s face it, we live in a capitalistic society and stores, especially super-chain types, will try to cash in whenever they see revenues slipping past them. Music and electronics retailer Best Buy has been playing with the idea of marking off up to 8 square feet in 1,020 stores for the sale of vinyl, which would equal approximately 200 albums.
While it may be easy to bash big bad Best Buy for succumbing to the simple power of a dollar, a part of me can’t help but feel proud that vinyl truly seems to be making somewhat of a comeback.
"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."
Now if only Best Buy would only take it one step further and get rid of the annoying door greeter/receipt checker. Until that day comes, I’ll continue to grab my vinyl, electronics, and accessories elsewhere.
See the NY Post for the complete story.
[via Giz]
You speak that first line as tho its bad that we have somewhat of a form of capitalism left in this country… With out capitalism we wouldn’t have a vast majority of things we love and take for granted like vinyl lp’s, turntables, mpc’s etc… Not meaning to rant but it just seems everyone is so quick to bash on capitalism because some idiot screwed over some people, when in reality it wasn’t capitalism it was fraud or some form of deception. Capitalism allows for the reward of someone with a brilliant mind and idea to be rewarded for their genius and actions. Don’t forget that many of these things have changed the world as we know it for the better. Just my 2 cents. Peace.
Did you read the same post that I wrote? Maybe you should read it again and decide if it’s worthy of your anti-Marx tirade. Nobody here is attacking capitalism, but rather what’s being attacked is the attempt of a company that has never supported independent music to cash in on supporters of vinyl simply for the sake of numbers.
Also, in case you were wondering, the last line of the post refers to Best Buy’s practice of giving its customers the evil, watchful eye upon entering and leaving the store. I’ve personally never felt that treating your customers as potential thieves was a great way to build loyalty and, as a result, I do everything in my power to spend money elsewhere. I won’t even get into their endless pitching of magazine subscriptions, overpriced/undervalued warranties, and rewards programs.
Capitalism rewards those who meet the needs of the market, which independent vinyl stores have been doing for years. On the other hand, Best Buy has been content to get by offering deep discounts on Top 10 CD’s and mass market compilations. As a consumer, it’s quite obvious that Best Buy could care less about consumers of vinyl and that the product will disappear from its tiny shelf space allotment the second that vinyl does not live up to the golden expectations of BB’s number crunchers.
As an active investor, regular reader of WSJ, and longtime subscriber to The Economist, Crate Kings is about as capitalist as they come; however, we do believe in maintaining a certain bond and respect for those you engage in business with. In my opinion, that’s capitalism at its finest.
Forgive me, for I may have taken your post out of context. By no means am I pro Best Buy, or attacking your post… I happen to enjoy this website, hence my frequent visits, and checking for updates. My post was merely my self stating an observation of a large part of society that demonizes an economic system due to a lack of knowledge about it. In the end consumers of vinyl win, they now have 1 more place to go to satisfy their vinyl desire.
It’s cool… I appreciate your loyal support and readership. I also may have overreacted, probably somewhat of a knee jerk reaction to the constant conservative cries of socialism in the U.S.
Want Best Buy to phase out the receipt checkers? Then don’t boycott them, ignore them.
When you buy something, it becomes your personal property, and store employees cannot search that property without your consent. They can ask to look through your bags and/or see your receipt, and you can say no and continue out the door. There’s not a thing they can do about it as long as you’re not stealing. If they try to force you to participate or prevent you from leaving, you can call the police and have them arrested for false imprisonment.
There are plenty of reasons to choose independent record stores over Best Buy, but receipt checks aren’t one of them. You’ll do more to discourage the practice by exercising your right of refusal than you will by staying away.
Our company has shelf space in Best Buy, and I can tell you that getting any shelf space at all in that store is a very big deal; the difference between success and failure for many electronics companies. Encouraging.
Thats awesome now i can hang out at that section while my fam’s busy shopping for electronices.
peace
is there anybody out ther who wants to talk to an old school invester in roc the mic studios that is waiting for his stack fromthe deadbeats who are running that show?!!
Vinyl was practically forced off the market in the late 80s by a cartel that wanted to limit the consumer’s choice to CDs. Now that CDs no longer sell, they’re trying to get the public to start buying vinyl again at ridiculous prices.
That’s capitalism.
Capitalism is monopolies, banker bailouts, mountains of debt, fools investing their life’s savings in inflated stocks, a currency that isn’t worth the paper it’s printed on.
I’d rather live under a true free market system where citizens are allowed to choose their currency and bankers are kept on a short leash than in this mess we call capitalism.