The Compact Disc is largely ingrained in the minds of consumers and is ubiquitous; it has become a defacto standard well beyond what vinyl had achieved, so much so that people are hesitant to change. This is particularly true if the price to upgrade is considerably high.

More succinctly, the Compact Disc works well, so why change?

This is what the consumer thinks. Most won't jump on the latest bandwagon just because it's new. Consumers, rather, want to get the most value for the money they spend. They'd rather not spend more money to upgrade to something that most people may not hear a discernible difference in quality, unlike CD versus LP and tape.