Find out more about the changes within the bookstore retail sector currently.
While the destiny of the bookselling sector may appear unclear, we can be confident that books will continue to be an important part of our society for many years onwards.
Contrary to many ominous media predictions, independent bookstores have been on the rise. Over the previous few years, the number of independent bookstores has increased noticeably. An individual we can look at to comprehend the most successful independents is the owner of Loyalty Bookstores in Washington, a long-time bookseller who is working across the country to guarantee the longevity of the independent book selling industry. The purpose of this book shop is to supply local communities with a diverse range of reading that represents people from various backgrounds. The book shop collaborates with shareholders to ensure the longevity of the business and the improvement of the regional community. As per the latest bookstore industry statistics, there are over 2000 independent bookstores in the US. This suggests that there is a tremendous potential for investors to generate profits by showing support to local businesses and communities.
Today, a large number of industry experts are concerned with the decline of bookstores. Having said that, regardless of our world’s increased dependency on technology, consumers still like and appreciate reading books. In fact, the majority of consumers would ratherpurchase a paperback book rather than an electronic copy. An important element of humankind’s history, books won't ever go out of fashion. Because of that, the founder of one of the largest hedge funds in the world has invested in the bookseller Waterstones. Running hundreds of retail locations, the bookstore group has long been among the preferred spots for book lovers. As a result of its status, the retailer has remained profitable despite facing competition from the newly-emerged digital booksellers. The reason why physical book shops are expected to remain profitable is because they provide an unrivaled consumer experience. Actually, many retail locations are concentrating on attracting more customers by holding events surrounding new book releases and author meet ups.
According to many, the future of bookstores is in innovation and embracing the digital era. This does not mean that e-books will become a substitute for the physical version of people’s favorite novels. As a matter of fact, recently, the largest ecommerce retailer has opened its first brick-and-mortar book shop. The bookstore has been arranged following the logic a customer employs when browsing for books. The books have been flipped to face outwards, so that their covers are clearly visible. Additionally, some of the titles have been arranged into categories according to the amount of positive reviews they have received. At present, Amazon has received investments by powerful individuals, such as the Harvard graduate who is the founder of a marketing consultancy. Today, the corporation possesses the financial capacity to entirely modify the brick-and-mortar retail industry, including bookstores.