USA – Independent video retail, a sector hit hard by the emergence of online alternatives such as Netflix and digital download offerings by superstore chains like Walmart, has suffered another blow with the collapse of this year’s Video Buyers Group (VBG) annual meeting.
The VBG, which represents more than 1,000 independent stores across the US, has cancelled its yearly tradeshow due to economic concerns.
Commenting on the show’s demise, VBG president Ted Engen said: “This was not an easy decision to make, especially when one factors in the success and support from retailers, vendors and studios that we’ve had for this event over the years.
“However, with everything occurring in the video industry, along with a struggling economy, tight budgets and the escalating cost of travel, we feel postponing this year’s event is the right decision.”
The group, which has been active for 25 years, was set up to help video retailers though product research, industry data and marketing projects.
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