Showing posts with label BOOKSTORES. Show all posts
Showing posts with label BOOKSTORES. Show all posts

Thursday, March 28, 2013

What Happens if Bookstores Go Away?

What Happens if Bookstores Go Away?
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That sentence alone is enough to send chills down my spine. No bookstores? I can't imagine a world without them. Yet the fact of the matter is, that's likely where we are headed.
I don't often share this, but you know that term "bucket list"? One of my bucket list items is to get locked in a bookstore overnight - with a fully-functioning Starbucks of course because a girl needs her caffeine to stay up all night and dig through the thousands of titles on the shelves. Truth is, that one bucket list dream may never come true (and I suspect, neither will the dinner date with Bradley Cooper, either). Let's face it, the world is changing rapidly. Amazon is making book access so much easier and without having to get in your car and, you know, drive somewhere. Look, I do love Amazon and what they've done for indie authors is tremendous, but the opposite side to all of this good is that bookstores are desperately trying to find a market. Ironically, in the mix of all of this, the independents, once proclaimed to be dead, are not fairing as badly as the chains. Well, the chain: Barnes & Noble.
My prediction, though perhaps wild and seemingly out there, is that we're going to start seeing more niche stores, so children's bookstores, all-fiction, etc. because at the end of the day, we are catering to an audience who doesn't want to have to sift through hundreds of books to find the niche they are looking for. We live in the custom society: custom coffee, custom cars, custom pretty much everything. Would the same go for bookstores? Sure, why not? I also think that we're going to start seeing a lot more book departments expand within stores. Hallmark has been experimenting with this for years, though granted their book section is small compared to everything else they offer, they could expand this, too. I don't think you'll see airport bookstores go away anytime soon. There's a need there, gotta have something to read on the plane, though the surge of eBook purchases may change the need for those too.
Let's face it, the structure is changing. Ironically it's not going in the direction we once thought. A few years ago many bloggers said that libraries were a thing of the past, sweet but ancient dinosaurs. However, libraries have seen a resurgence in a down economy and librarians are eager to keep step with technology, offering eBook lending, etc.
The biggest challenge we face as authors and book promoters is that if, in fact, bookstores go away that takes away a huge chunk of those trusted book connoisseurs who would otherwise be out, on the frontlines, recommending books. Also, the shelf space, which for most of us isn't really a factor since our books won't be in bookstores anyway. But for those publishers and titles that depend on bookstores, how will they gain exposure? The answer is, of course, online.
I think as we see the market changing, we're going to see things like niche social media sites, which despite Facebook's online real estate could pull in more readers because, again, we want what we want. We don't want to sift through tons of data to find that great, new read.
Free books and excerpts will become a must. I've spoken with a lot of authors who feel this is just something they don't want to do. The numbers would, however, encourage a second look. Whenever we've run freebie campaigns we see a huge uptick in sales after the freebie is over.
Book bloggers: As time progresses, we'll need more voices out there. As we do now, we'll start seeing a lot of niche blog communities popping up and, I dare say, that if the bookstore demise happens we're going to see a lot more paid reviews.
Paid placement: Yes I think you'll start seeing much more of this. Though not through ads but through paid content online. Some call it advertorial, and perhaps that's a better term for it, but I think as we progress content generation to drive sales will become a huge factor.
What can you do now, this far ahead of the curve? Candidly, I think we'll start seeing the downturn of the bookstore right after Christmas. We're seeing it now already but as 2013 continues, more and more of the sales numbers are going to be facing a decline. What you can do now is stake your claim. Make friends with bloggers, network, put out good content. Don't wait for the bookstore rug to be ripped out from under you before you act. Do it now. And when the eventual demise of bookstores happens, you'll be ready to face that challenge.
Many of us ignore the library market because it's not glamorous, but guess what? Librarians are a fantastic group of book lovers who could really help your book succeed. Been ignoring the library market in lieu of something more glamorous? You may want to rethink that approach.
No one wants to see bookstores go away, least of all me. But the writing has been on the wall for a while and even if I'm wrong, which would be great, I still think that the online world will become more and more significant in all of the ways I've described. Let's face it. With all of the books published each day in the US, the market has been expanding on one side and shrinking on the other for a while.
So, head to your local bookstore and support them, but make sure you keep an eye on the future. 

 Reprinted from "The Book Marketing Expert newsletter," a free ezine offering book promotion and publicity tips and techniques. http://www.amarketingexpert.com

Wednesday, August 4, 2010

B&N UP FOR SALE!!!

August 3, 2010 NY Times

Biggest U.S. Book Chain Up for Sale

By JULIE BOSMAN In what might be the latest sign of trouble for brick-and-mortar bookstores, the mega-chain Barnes &Noble announced on Tuesday that its board was putting the company up for sale.

The news surprised analysts and alarmed publishers, who have watched as the book business has increasingly shifted to online retailers and e-book sales, leaving both chains and independent sellers struggling.

Barnes &Noble, the country’s largest book chain with 720 stores, said that its board believed the stock was “significantly undervalued” and that it had set up a special committee to review its options.

“Barnes &Noble has an iconic brand and unique competitive advantages we believe will position the company to succeed over time in a rapidly changing market,” the board said in a statement. “The board is confident in Barnes &Noble’s strategy and fully supportive of the senior management team, which is delivering explosive growth in our fast-developing digital business.”

The board has enlisted Lazard as its financial adviser and Morris, Nichols, Arsht &Tunnell as its legal adviser.

One possible bidder could be Leonard Riggio, the company’s founder, working with private equity, according to a person briefed on the matter. Mr. Riggio, 69, is the largest stockholder in Barnes &Noble, owning nearly 30 percent of the company.

“Regardless of whether I participate in an investment group that buys the company, I, as well as the entire senior management team, am willing and eager to remain with the company and see it through the challenging years ahead,” Mr. Riggio said in a statement.

Mr. Riggio has been under pressure recently from the billionaire investor Ronald W. Burkle, who last year increased his ownership stake in the company to about 18 percent. Mr. Burkle has argued for changes in Barnes &Noble’s corporate governance and has said that his Yucaipa Companies should be allowed to buy up to 30 percent of Barnes &Noble stock, though Mr. Burkle testified in court last month that he did not want to buy the company.

For years, Barnes &Noble has been battered by large shifts in the publishing industry and the retail environment. Book sales have moved toward big-box stores like Costco, Wal-Mart and Target, and away from mall-based stores like B. Dalton, which Barnes &Noble acquired in the late 1980s.

“There’s been a long series of pressures,” said David Schick, managing director at Stifel Nicolaus in Baltimore. “The market has not been kind to bookstores, and it’s for new reasons like competition with Apple and Amazon, and it’s for old reasons, like what we believe has been a decline in reading for the last 20 years. Americans have devoted less of what we call media time to books.”

But Barnes &Noble has made efforts to adapt to the changing landscape. Last year, it announced that it had acquired Fictionwise, an online e-book retailer. In March, the company promoted William Lynch, then the head of its Web division, to chief executive, signaling that it was pouring its efforts into the growing digital side of the business.

It has tried to compete with Amazon and Apple in the e-reader market by opening its own e-bookstore last summer, and by introducing its own device, the Nook, with versions selling for $149 and $199, as an alternative to the Amazon Kindle and the Apple iPad. In September, it will open 1,000-square-foot boutiques within its stores to promote the Nook.

One analyst said that consumers had been moving away from physical bookstores in favor of buying books online or at other retail outlets. “They might pick up a book when they’re buying hand sanitizer or Band-Aids, rather than actually seeking out a bookstore as a destination and then buying a book at that point,” said Michael Norris, senior analyst at Simba Information, which provides research and advice to publishers. “A lot of independents are figuring it out one bookstore at a time, and that’s what the Barnes &Nobles of the world have to do.”

Michael J. de la Merced contributed reporting.

COMMENT: At ATTMPress, we have stressed that the future of books in on-line sales. And, while we hate to see any outlet for literature in trouble, the handwriting is on the wall.