OK, I can hear you thinking… how can CDs and DVDs possibly be your tip as a hot product of the month?
Surely CD and DVD sales are falling. As companies like HMV and Blockbuster have learned to their cost. Surely everyone downloads nowadays? Nobody buys physical media like CDs and DVDs anymore, do they?
Well let’s look at some facts. The Entertainment Retailers Association says that a quarter of the entertainment market is now digital and that digital sales are now worth £1.03 billion a year. They say that sales of CDs and DVDs fell by 17% last year. But that still means it is a market worth around £3 billion a year!
CDs and DVDs might be declining as a mass market product but lots of people still want to buy physical CDs and DVDs, even if not in the same quantities as before, meaning there’s still good money to be made here.
So, how could you get involved sourcing and selling in this surprisingly ‘hot’ £3 billion a year product area?
Look for good value sources. Try bankrupt/surplus stock suppliers, and auctions. There’s quite a healthy trade in used CDs and DVDs too – consider sourcing from charity shops, second hand shops and small ads.
There are lots of places you can sell – and as HMV and so on disappear from our high streets other sales channels are likely to see increased sales. CDs and DVDs are perfect for Amazon and eBay, but there are also specialist online platforms, like Play.com. You could also consider car boot sales and markets, or, in the case of interesting or rare items, collectors’ fairs.
The fact is, maybe HMV and Blockbuster, with their high overheads, can’t make it work, but this could be the ideal niche for smaller entrepreneurs.