According to BusinessWeek, market research is showing that iTunes has become the number two retailer of music in the United States. The online music seller especially popular among iPod users, lacks behind only Wal-Mart in overall sales, according to NPD research.
The rise of iTunes above thrid and foruth place finishers Best Buy and target can be attributed to the lack of CD purchases among certain demographics, according to the report. For example, 48 percent of teenagers did not buy any CDs at all in 2007.
According to the BusinessWeek report, “NPD also said that the amount of music consumers bought in the U.S.
rose 6 percent in 2007, though the decline in CD sales and increase in legal digital download sales still led to a 10 percent overall decrease in music spending.”