One trend that has been gaining attention in recent months is the Espresso Book Machine (EBM), which allows bookstores to access a large database of written works and print them in-house as needed.1 This allows owners to increase their inventory without the actual investment of having to stock physical copies in-store.4 Proponents of this machine argue that this not only eliminates the waste associated with overprinting, but lowers the cost of each book for the end user by reducing expenses associated with shipping and storing large inventories.1 Prices are also lowered as bookstores are able to essentially cut out the middle-man, i.e. printers and distributors, and sell directly to the customer. In a college bookstore setting, EBM would give educators the freedom to quickly change and update course material, giving students access to the most current information in their field while saving them the expense of having to purchase multiple editions of the same textbook.3
While the above facts would be enough to get many people on board with the Espresso Book Machine’s capabilities, there are a few things that potential buyers need to keep in mind before taking the plunge. The start-up cost associated with purchasing a single machine is significant, with some sources placing it in the $100k range.2 Pair this initial investment with the high cost of operating and staffing the machine and there-in lies the potential that EBM owners will not turn a profit for upwards of four years. Opponents of the EBM also reference the ability of express print shops, such as Fed Ex Office and Staples, to print and bind individual copies of books on machines that are currently found in their stores. Although these print-and-go locations currently do not have access to the extensive database provided by EBM, South African based Paperight is working to change that by connecting customers who want to purchase books with publishers who are interested in selling their products via local print shops.
Another book buying method that analysts believe will continue to gain speed is the eReader. With several versions already on the market today, Amazon is leading the way with their Kindle and Kindle Fire, with Barnes and Noble’s Nook quickly gaining ground. While many believe that eReaders will be the demise of the printed book industry, a few visionary booksellers are embracing these devices and their potential to increase sales with open arms. Google eBooks is partnering with independent bookstores across the nation, allowing customers to purchase e-books via a link on the store’s website with retailers receiving a 20-40% kickback on the profits.6
With digital editions of textbooks now being introduced on a regular basis, campus bookstores would also be wise to jump on board with the eReader movement, renting devices to students that come preloaded with all of the course material for their current semester. Bookstore staff would then handle the transfer of information as a student progresses from class to class.3 This business model has been met with success at a library in Eau Claire, Wisconsin that lends out iPads to its cardholders, and there are an additional 11,000 libraries in the United States that allow patrons to borrow Kindle ebooks.5
If booksellers are not yet ready to dive into the world of digital books, there are numerous other measures that can be implemented into their day to day workings that are both low cost and high yield strategies to increase customer interaction. A functional website and Facebook account are easy ways to get your store’s name out there. An effective website will afford customers the opportunity to browse your inventory and allow them to purchase books for pick up in-store. Due to the often vast offerings of today’s bookstores, it is also a good idea to provide on-location access to your website and inventory to those patrons who may find such a large selection of books to be overwhelming.8 Incentive programs that give discounts to repeat customers can also be a low cost method of drumming up extra sales.4
In many communities, bookstores are seen as community centers where people gather to discuss, create, and listen. Organizing simple events such as monthly movie nights, game nights, and lectures from prominent members of the community will offer ways to stay connected with patrons.5 Other events might include book signings with well-known authors, poetry readings, art exhibits, or an open mic night.8 Keeping the surrounding community involved and engaged with your bookstore is paramount in making sure it does not go the way of record shops and video rental stores of the past.
The ability to celebrate holidays is one advantage that brick and mortar stores will always have over internet-based businesses. Shoppers are often sentimental when it comes to the changing of seasons and something as simple as putting out a bouquet of freshly sharpened pencils (a la You’ve Got Mail) for Back to School days or stringing a few twinkly lights (again, thank you Kathleen Kelly) for the holidays can make a huge difference in the mood of both your store employees and shoppers. Make your stores a haven for people to visit when they want to escape the fast pace of society.
As the need for physical books decreases in the coming years, bookstores will become smaller and more efficient9, allowing shop owners to allocate more money toward making sure their interior design and promotional displays are top notch. Many independent bookstores today often do not meet their full operating potential by ignoring the fact that their store fronts are a place for them to paint a picture of the magic that can be found just inside their doors.8 A few pillars displaying the latest books in print simply will not cut it—draw the casual passerby in with a fascinating window display and keep them coming back with a beautifully designed, well thought out space. Customers will appreciate comfortable areas throughout the store where they can gather in groups or get lost in a book by themselves. No one ever complained about free Wi-Fi or a coffee bar either!6
While it appears that companies such as Amazon, with their low prices and fast service, may indeed do away with the need for physical bookstores, there are still countless people who argue that the human need for the community that such a place offers will eventually prevail. People have the built in desire to interact with others and bookstores are a place where they can meet, learn, and discuss new ideas.7 Many book lovers will also agree that the experience of pulling a new book off the shelf and holding a physical copy in your hands cannot be matched by the low prices of Amazon or the instant satisfaction of downloading a book to your eReader at home. Bookstores help to enrich to lives of people that live in the communities where they are located and as the “buy local” movement sweeps across the nation, brick and mortar stores will be where people gravitate.6 In turn, owners need to make sure they are doing everything in their power to make their stores the best that they can be.
The importance of integrating technology, organizing community events, or decorating your store windows and interior cannot be stressed enough, but all of the effort that a store owner puts towards these things will be in vain if they have an inexperienced and incapable staff manning the sales floor. For many people, the reason they shop at bookstores instead of online is for the expertise of the owner and staff.3 It is vital to staff your stores with people who are passionate about books and are capable of making suggestions to customers about what they should read. In this day in age where online, shoppers are inundated with rating and reviews written by people they will never meet, it is a breath of fresh air to get an honest opinion from someone they can actually see. Owners must realize the important role that customer service plays in the survival of the brick and mortar bookstore.6
While no one really knows for sure the direction that physical bookstores are headed until a major shift takes place, many people are making their predictions on the future that booksellers can expect to encounter in the coming years. One of them is David Houle, a strategist and keynote speaker who is consistently ranked as one of the top futurists. Houle believes that by the year 2015, the majority of books will be read via eReaders, adding, that as technology continues to get less expensive, the profit margin for these devices will disappear. By 2020, he believes that brick and mortar stores selling new books will be obsolete as new works are consumed almost entirely through digital readers. Houle also predicts that the bookstores capable of surviving the digital era will primarily sell used books as people will desire to have physical copies of those works that are sentimental to them.9
As bookstore owners are faced with the undeniable potential
that their shops could suffer the same fate as the once thriving video rental business,
they can take heart in the fact that there are still numerous strategies that can be implemented to keep their stores viable and relevant in the changing times.
Engaging customers through community-based events, creating marketing
strategies to reach a broader audience, embracing the ever-changing world of
technology, and providing valuable customer service are just a few steps that
can be taken toward ensuring that bookstores remain an essential component of
the retail landscape.
What will the bookstore of the future look like? With owners
that are forward thinking and willing to adapt, the possibilities are endless.
sources: 1 . 2 . 3 . 4 . 5 . 6 . 7 . 8 . 9pictures: one . two . three . four . five . six
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