Business

Go Read This | The Independent Bookseller : Alexia Golez

Nice post over on Alexia Golez’ blog today about her mother’s bookselling:

The shop was a mix of old books and new. Customers were regulars, people who’d pop in for a chat as much as a book. Books were laid away for people. Facebook a social network? Your independent bookseller is ultimate social network. All walks of life come in. Everything in every shape and size.

I dare anyone to spend a day in your local independent bookseller that sells new and *old* books and not be impressed. The old part is important. Second-hand booksellers are social treasure troves. Beat the joy of helping three generations of the same family buy books and leave the shop happy and enthused.

via The Independent Bookseller : Alexia Golez.

Go Read This | Personanondata: The Baked Beans Are Off: Michael Cairns – Content to Strategy

Very thoughtfully put together piece:

Fast forward 20 years and the scale economic model is falling apart for trade publishing. So effective at applying scale to accounting, manufacturing, management, production and other overhead, it is ironic that in the internet world everyone now has access to similar scale benefits. Publishing companies now realize they have achieved scale advantages in the wrong functions. Scale advantage in editorial, marketing, promotion, and content management is almost non-existent to the degree that will ensure competitive advantage, yet these are the functions important to future success. (As an isolated example, I would argue that authonomy.com by Harpercollins represents an attempt to build scale into the editorial process).

via Personanondata: The Baked Beans Are Off: Michael Cairns – Content to Strategy.

Stanford Ushers In The Age Of Bookless Libraries : NPR

The second article today that reinforces the thinking that the slide towards ebooks is starting to become unstoppable!

The new library is set to open in August with 10,000 engineering books on the shelves — a decrease of more than 85 percent from the old library. Stanford library director Michael Keller says the librarians determined which books to keep on the shelf by looking at how frequently a book was checked out. They found that the vast majority of the collection hadn’t been taken off the shelf in five years.

via Stanford Ushers In The Age Of Bookless Libraries : NPR.
And via Teleread!

What Publishers Can Learn From The Godfather

Great post by Dan Blank on publishing and the Godfather!

One interesting example, as usual, is Apple. They created entire economies around their products that encouraged new companies and new products to come into being. Their App Store is indicative of this – it is a new form of marketplace. Apple even designs their gadgets with tons of room for third-parties to develop accessories for them, such as iPhone cases. It’s as if Apple deliberately designs products that are easily scratched or shattered, and offers incredibly poor cases of their own, specifically so that third parties can offer “solutions” and inventive cases and accessories.

via What Publishers Can Learn From The Godfather.

Go Read This: The Future of Print | Booksquare

Really nice post this by Kassia over at Booksquare. I totally agree with her on the trajectory and have some slight quibbles (which I’ll blog about soon) on the outcome, but nothing terribly major.

The Future of Print | Booksquare.

CloudsoupEbookImage

Still True: It Only Matters That It Sells

The debate about ebooks and digital being the future IS over.

Sometimes in the whirl of debate, discussion and faux innovation that has surrounded the shift to digital, you can forget fundamental principles. Something about the tone of the discussion at the moment got me thinking about where we are and what it means.

That brought me to something I wrote just under four years ago:

Which of course is no major deal. Why on earth should publishers worry? Does it really matter if a book is sold as a paper product, as an audio CD, as a downloadable eBook or as part of a subscription based updatable online book, or indeed some combination of these?

NO. IT ONLY MATTERS THAT IT SELLS.

If anything they should be jumping in this direction as quickly and rapidly as possible. They should agree a format that is cross industry and cross device. They should look for attractive price points and better reading devices. Publishers in short should be looking for ways to grab the market and sell more books

I get the sense that most publishers at least in the UK, USA, Canada and Germany and probably in France, having tasted the sweet ambrosia of digital revenue and seen the impressive growth of ebook sales, are there now.

Maybe they don’t admit it too loudly, but I’m sure most senior level publishers have looked at the numbers, and they like them.

What does that mean?
Of course the flip side of what I said four years ago is this:

You can see then book publishers face a problem like print publishers. EBooks do not attract high prices. That is to say that I think most people feel that an eBook is less valuable than a real live (dead in Jeff Jarvis’ world) paper book. If an e-reader appears that quickly changes the market and shifts content online and into digital form as rapidly as music sales have shifted, traditional publishers will be faced with enormous difficulties. Their print runs will need to slide, their high costs need to be removed and eventually some books will simply no longer be printed in books and will remain exclusively as eBooks.

Print runs sliding and high cost cutting will not be fun. In fact it will be unpleasant for pretty much everyone in the industry, but make no mistake, if the first part of the prediction is true, then the second part is inevitable. The structure of the industry MUST change if it is to adapt (that forgoes the obvious strategic issue of whether survival in a digital world IS possible for now. There’s some discussion of this over at Mike Shatzkin’s blog recently).

The debate about ebooks and digital being the future IS over. What’s going on now is the shake out of how publishers change and adapt. I get the feeling that, for many people, this will be far more painful.

Beautiful morning here in Dublin, almost makes me hold back in posting this!
Eoin


Image with thanks to Flickr user Cloudsoup and CC

Waterstones Logo

Luke Johnson Agrees With Me

Waterstones LogoA few months ago I wrote this:

As readers shift to digital, the economics of book shops will become skewed, favouring online emporia. Booksellers can react by hand-selling to customers and making themselves relevant, in the way that Raven Books in Blackrock, Co Dublin, has. (I am increasingly sure of finding a pile of relevant books there every time I walk in). No doubt this will mean concentrating on older, out-of-print, and second-hand books, titles that appeal directly to the customer, and print-on-demand works (though I am less convinced of the economic case for this).

Whatever way you look at it, as a big book-buyer I should be a chain store’s best customer. Instead, like many avid readers, I’m what’s killing them.

The Sunday Times – Think Tank: Lost In The Amazon
&
Eoin Purcell’s Blog – Bookshop Are Dead And I Killed Them

Then today I read an interview with Luke Johnson who ran Borders for a time. this is what he said:

I bought Borders thinking we could turn it around. I believed wrongly we could reverse the downturn in high street book sales. It’s a great sadness that we couldn’t. In my opinion, the high street book store is doomed.

He did say, that there was hope for stores like Watersones and that:

Publishers I’ve spoken to agree that the one-size-fits-all bookstore doesn’t have a future. But there is still room for independents that know their customers.

I agree the local independent have a chance. But the utterly depressing reality is that at least in the UK and Ireland, big high street stores are in trouble. Eason remains dominant here and may well gain some advantage from that, especially as supermarkets have been slower to take big steps into books (though Tesco is having an impact) but the slide is inevitable.

It contrasts fairly remarkably with the confidence of Barnes & Noble as pointed to in the last post.

One point that struck me yesterday was Waterstone’s belief in the power of ebook sales to drive their growth in their press release they said they had and ‘Excellent start for e-books at waterstones.com, approaching one million downloads.’

That makes two major booksellers on different sides of the water with hope of decent sales of ebooks. Interesting news I think anyway. perhaps if they can peel some of the sales away from Amazon in print, drive for sales in ebooks and slowly but surely wind down their bricks and mortar stores, they can avoid the downfall scenario I had originally envision and emerge as slimmer chains selling mostly virtually.

Here’s hoping,
Eoin