.jpg) |
| What's the future of bookstores and newspapers? |
Consumption Junction
by lana lynne on March 9, 2013
Barnes & Noble
recently announced it will be closing more stores over the next decade, about 20 each year, news that has been met with mixed reaction. As a proponent of small businesses versus behemoth box stores, I can’t help but feel a small sense of smug satisfaction at hearing this news. On the other hand, there is a part of me that says, “But wait. Conspicuous consumption and gluttonous spending is good if it’s a bookstore!” No doubt this other feeling comes from the fact that there are so few alternatives to patronizing the chain, which is why it is encouraging to read
the news from the
American Bookseller Association of the 43 new independent bookstores that ABA members opened in 2012. While 43 stores compared to over 400 Barnes & Nobles, the number the chain projects it will keep open after 10 years, seems almost anecdotal, hoping that these new brick and mortar stores filled with print matter are the start of a market trend is not all that much different than hearing arguments of the reverse that tout the revolution of the e-book.
Speaking of which, late last year, Bowker Market Research released
their numbers regarding book sales, which tells us that in the second quarter of 2012, e-books accounted for 22% of book spending, up from 14% in the second quarter of 2011, but still trailing hardcovers (27%) and paperbacks (30%). What I’d like to extrapolate from this data is that e-books are finding their comfort zone in the midst of traditional books, and to say they are poised to take over the entire market is just premature. I’d also like to think that I’m not the only one thinking this way. In other
recent Barnes & Noble news, the founder of the chain, Leonard Riggio, has revealed he wants to buy back the stores and the website, but, interestingly enough, not the Nook part of the business.