About Independent Bookstores
Independent bookstores face significant competition from large corporate retailers, online stores, online used book sellers, university book stores, auction websites and even libraries. Despite the ferocity of the competition, many independent bookstores still find significant success--at least if they can find some competitive advantages that larger book retailers can't match.
Other People Are Reading
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Significance
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Independent bookstores occupy a curious cultural niche. Few people complain about how small kitchen supply businesses or specialized appliance companies have been over-run by massive, all-inclusive stores. Yet, when an independent bookstore fails due to too much competition from a larger national bookseller, it becomes a point of cultural crisis among the educated, literary and politically active. Some of these individuals will actually make an effort to patronize independent bookstores because they believe it is morally or culturally preferable to going to one of the big box shops--even if they will need to pay more.
Function
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Independent bookstores, however, can't rely on the often fickle waves of political fervor alone to keep their business afloat. In order to stay alive, an independent bookstore needs to cultivate its clientele. While most independent stores don't have the inventory storage capacity of the larger shops, they can afford to be more agile and responsive in how they stock their shops. They can keep close track of customer buying behavior, offer to rush-order books at a discount and offer membership discount cards for repeat business.
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Considerations
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Many independent bookstores find that they are better able to attract customers if they offer coffee, food and a place for customers to sit, read and meet with people. This does require some licensing, training and potentially the installation of additional facilities to comply with health regulations, but the eventual return on investment can mean that the shop remains profitable for the long term. Franchise book stores are required to comply with corporate decor requirements along with all sorts of other regulations--they don't make for attractive meeting places for literary people.
Features
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Specializing is another way that independent bookstores differentiate themselves on a crowded market. Some shops specialize in books for children, technical books, art and photography, science fiction and fantasy, business, pen and paper gaming books, academic textbooks and more. Independent bookstore operators need to ask themselves regularly why customers would come to them rather than go to one of their larger competitors that are often able to offer lower prices, larger inventories and more discounts. For example, an independent bookstore can make an effort to stock rare first editions of well-known books either purchased at auction or directly from customers.
Potential
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Many independent bookstores try to make themselves into destinations for their local communities, sponsoring classes, author readings, publisher events and more. Publishing companies are often eager to support their products by covering some of the costs of events held at an independent bookstore. Owners can cultivate relationships with public relations and marketing departments within publishing companies. Independent bookstores can also reach out to university professors that may be willing to send their students to an independent store to provide an alternative to the store operated by their school in return for a discount.
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Resources
- Photo Credit gadl, Flickr
