When it comes to music I love classic rock, hands down. Imagine my interest when I, eager to get my hands on Black Ice, had to drive out to Wal-Mart to buy the new AC/DC album. According to a report by Michael Ventre, this partnership between bands and low-cost retailers is part of a rising trend. In the face of declining CD sales and rising downloads, many artists and bands are enjoying the dependable sales and included promotion that is part of the deal when distributing to low-cost, or big box, retailers. Wal-Mart, Target and other similar stores enjoy the increased traffic that comes with providing their customers with the music that they like.
- Image Credit: zrock.com
This scenario brings up an interesting public relations element of an organization or company relating to its stakeholders. In this case, Wal-Mart is relating to its stakeholder group of shoppers. Wal-Mart management is showing customers that it takes an interest in providing what they like at the same reasonable, reliably low prices. The company did its research to find that many of its shoppers enjoy classic rock music, and the company made negotiations with AC/DC, Journey and the Eagles to sell and promote their music at Wal-Mart stores. Wal-Mart is also successfully stealing the competition’s shoppers – I’m not going to go to my usual favorite, Target, if they don’t have what I want. Wal-Mart will likely lose some shoppers when the Christina Aguilera album makes its debut at Target.
The strategy seems like a win-win for all involved. Artists sell more CDs, retailers enjoy increased traffic, and shoppers find more of what they like in their favorite stores (in most cases). Hot Topic certainly drew me in when I found out that they not only had the Twilight movie soundtrack that Target sold out of, but they also sold it at a cheaper price.
Have you had to go to other retailers you normally don’t shop at for products you want? Or has your favorite retailer disappointed or enthralled you by not having or having a certain product?
