We have all read about the decline of the independent bookstores
in the UK and US. However, we have also seen the relaunch of Foyles in
Charing Cross, the expansion of the Hatchards brand by
Waterstones to St Pancras, the growth online of the bargain bookseller, The
Works. So what is the future of the Bookstore and does it have a vision of
itself in 2020, or is its vision somewhat out of focus and requiring both short
and long sighted correction?
Stanley Unwin once said that, ‘To write books is easy, it requires only
pen and ink and the ever-patient paper. To print books is a little more
difficult, because genius so often rejoices in illegible handwriting. To read
books is more difficult still, because of a tendency to go to sleep. But the
most difficult task of all that a mortal man can embark on is to sell a book.’
Today more than ever before that quote reflects the significant changes and challenges facing booksellers. Some would say that
the question of what is sold, is as important as that of how it is sold.
Today many continue
to sell not just a narrow range dictated by their physical square footage, but
a range focused purely on the new or only available through the publisher. It’s
as if they haven’t read what it says above the door and have ignored the word ‘bookseller’
and replace it with ‘new books only seller’. Books are books and the consumer
doesn’t grab a book and turn immediately to the copyright page and look as to
when the book was published, so why do so many bookstore restrict themselves? In
a market that over produces both in titles and quantity, there are many mint
condition ‘bargains’ to be stocked from outside the traditional publisher channel.
They may not have the ‘sale or return’ safety net, but they also can be often
acquired at a fraction of the price. One of the salient lessons we should have learnt
by now from the likes of Amazon, is that consumers want to buy new, old, rare, bargain
and used books and to do so from one place where they can seen the full range.
A recent article in
The
Economist looked to the future design of the bookshop and asked four firms
of architects and designers to create the bookshop of their dreams and in doing
so reinvent it for tomorrow. The designers looked at many aspects and even
covered the sale of used and digital books and using the space to sell
lifestyle, create theatre and host events. It is worth a read.
However, they
started from the premise that the hub was the bookshop and everything revolved
around the book. Is that how we should look at it, or is the book merely part
of a larger proposition based around a wider lifestyle offer? This obviously
raises the question of range both in terms of width and depth. We have seen
many acclaimed bookshops which have narrowed their offer to appeal to a segment
of the market, but how many of these have actually complimented their book
offer with a full range of products that appeal to that same segment? Does the
cookery shop sell cookery product and books, or books and cookery product? Does
the children’s bookshop sell toys, children’s clothes, prams etc. alongside
books, or books alongside childrens’ product? Ex Borders UK head, Phil Downer
has made his Calliope
gift shop one that sells gifts which include books and in doing so he is
able to cross sell and merchandise and adjust his offer to suit the market.
Will books be a major or a minor element in years to come will depend on many
factors, but ultimately it should reflect consumer demand.
The coffee shop
within the bookstore is often a very good earner per square foot and creates
lifestyle and greater selling opportunities. It is claimed that our obsession
with coffee houses is going to grow by a further 20% by 2020. So would you open
a coffee shop that sells books or a bookshop that sells coffee?
A further example
of how market trends have changed well established markets is in the off
licence sector, where the supermarkets have come in and not only wiped out much
of the previous retail space, but also have actually expanded and grown the
market. When supermarkets first started selling petrol it looked obvious and
was restricted to their out of town supermarket locations, but now some have
taken their supermarket offer to the garage forecourt and taken over independent
stations which are convenience stores that sell petrol and this has enabled
them to grow their convenience business and opened new locations miles from
their supermarkets.
Just focusing on
books is obviously a very limited consumer offer. Just selling new books could
be terminal.
