This evening I was browsing through my RSS feeds, and came across an interesting entry from The Digital Reader. It detailed how since 2009 Amazon has been selling more eBooks than paper books. In 2009, they sold 143 eBooks to every 100 paper books, and now in 2010 they sell 180 eBooks to every 100 paper books. What does this actually mean for the future of book stores?
For large brick and mortar stores, it means that customers are slowly moving away from physical books. It also means that their competition (Amazon) is already well ahead, again. Having crushed them in physical book sales, now they have a huge lead in providing a shopping environment for digital books.
I do believe that stores selling physical books will eventually become a thing of past, though I believe that this vision future is still far off. Stores selling physical books cannot rest and wait for that day to arrive, they need to innovate, and they need to do that very soon. Yesterday if possible.
I also believe that this will be a problem for book stores of any shape, size or purpose. University Book Stores, Independent Book Shops, and even Used Book Shops, will all eventually feel the squeeze of the digital book. We’ve seen this happen with digital music, and it is becoming more and more evident with digital video. Mostly I’m surprised it has taken this long for text to go digital.
So what do these stores need to do? Give up and go home? Surrender and hope Amazon or Google buy them? No. These stores need to focus on something sorely lacking in every retail environment, customer service. These stores need to reevaluate what makes them great, and what turns customers away and forces them online.
For example, a used book store has many built in benefits. Prices will be low, creating a natural draw. The book seller will see every book that enters and leaves the store. Popular books will be readily available, and less popular ones hopefully less available.
What these small stores will inevitably run into is lack of motivation. Where should they go next when things have been good in recent years? Financial instability has pushed people to find cheap books. Green products are in vogue, and 100s of pages of recycled paper sold for a profit are a natural yes. It is easy to see these positives, relax, and hope things remain this way. They could sit back and pray that people will always feel nostalgic for the feel or smell of a paper book. They could also keep things the same because the customers might not like change. Essentially the market will push this store to stay put, to enjoy the moment of comfort. In reality, now is the time to strike and get ahead of the competition.
I envision a book store where an owner is willing to cut the fat from their operation, and run lean and aggressive. Make sure the staff is knowledgeable, make the top priority customer service, and surprise every customer with a terrifyingly accurate knowledge of every book in the store and where to find it. I see stores branching online to bring customers to their store, or to bring the store to their customers. I see stores creating an environment and experience that can’t be had online. Comfy chairs, coffee bars, well organized books, rows of books to discover, and friendly staff waiting to serve every customer. The end goal should be positive and fond memories of the store.
A good book store can help a customer find a replacement for a crappy book. A poor web experience can also easily replace a crappy book store
Let us hope that small book stores do no bring about their own demise through lack of trying.