Wal-Mart Replacing Music with Blu-ray?
Home Media Magazine is reporting that Wal-Mart stores are downsizing shelf space used for music CDs and increasing space for Blu-ray and consumer electronics in select locations, according to a new report.
Citing a 23% drop in CD sales during the first four weeks of the fourth quarter, Wal-Mart continues to reduce inventories of music packaged media; replacing it with electronics and movies.
“We believe Wal-Mart is increasing its exposure to consumer electronics, video games and Blu-ray, and reducing floor space devoted to CDs and standard DVDs,” said Richard Greenfield, a Pali Capital analyst.
John Fleming, Wal-Mart’s chief marketing officer, said in an analyst meeting last week that electronics would be getting space expansion in stores due to the decline in physical packaged media.