Find out how bookstore retail is changingLearn how the bookselling business is transforming.
Contrary to many ominous media predictions, independent bookstores have been on the rise. Over the previous few years, the number of independent bookstores has grown noticeably. A figure we can look at to understand the most successful independents is the owner of Loyalty Bookstores in Washington, a long-time bookseller who is working nationally to ensure the future of independent retail. The purpose of this bookstore is to supply local communities with a diverse selection of reading that represents people from different backgrounds. The book shop collaborates with shareholders to make sure the longevity of the business and the enhancement of the local community. As per the most recent bookstore industry statistics, there are more than 2000 independent bookstores in the US. This suggests that there is a tremendous potential for investors to acquire profit by supporting local businesses and communities.
According to many, the future of bookstores lies in innovation and embracing the digital age. This does not mean that e-books are going to become a substitute for the physical version of reader’s favorite novels. As a matter of fact, just recently, the biggest ecommerce retailer opened its first brick-and-mortar book shop. The book shop has been organised following the logic a customer uses when browsing for books. The books have been flipped to face outwards, in order for their covers to be visible. Additionally, most of the books have been grouped into different categories based on the amount of positive reviews they have received. Currently, Amazon has received investments by powerful businessmen, such as the Harvard graduate who is the founder of a marketing consultancy. At the moment, the company possesses the financial abilities to completely modify the brick-and-mortar retail industry, with bookstores in particular.
Today, many business specialists are concerned with the decline of bookstores. Having said that, regardless of our world’s increased dependency on technology, consumers still like and enjoy the act of reading. In fact, the majority of consumers prefer to purchase a paperback book rather than an e-book. An essential part of humankind’s past, 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. Operating hundreds of retail locations, the bookstore group has long been one of the most popular destinations for people who love reading. As a result of its popularity, the retailer has managed to remain profitable despite facing competition from the modern online book stores. The reason why physical book shops are expected to remain successful is because they offer an unparalleled consumer experience. In fact, many book sellers are concentrating on attracting new customers by organising happenings surrounding new book releases and author meet ups.
While the future of the bookstore sector may appear unclear, we can be confident that books will remain an essential part of our society for many years to come.