My Obvious Prediction for 2011
Jan 02
Books Comments Off
My preferred bookstore, Borders, is not long for this world and will close down well before December 2011. The writing has been on the wall for a while now (pulling out of the UK, closing stores in the US), but two events this weekend sealed the company’s fate for me:
1. Borders announced recently that they won’t be paying some publishers.
That’s bad enough, but then:
2. Borders Reward members got a two day 50% off coupon good for this weekend, right after that announcements.
Sounds to me like they’re trying to bring in a fast infusion of cash to make some payments, at any price. Doesn’t matter if they lose money on each sale; They only need to bring in a lot of cash in a short time period. This is a great short-term fix, but does nothing for the long-term problems.
The optimist would say that they’re hoping to get customers in the door, and more people will buy more than just that 50% off book.
I think the optimist is deluded, if such a person exists.
2011 will be the year that leaves us only Barnes and Noble for a nationwide bookstore chain. And how long will B&N last in a world where Amazon sells everything for 30%+ off with free shipping and without the need to pay for an annual membership?
I love bookstores, but I don’t spend money in them anymore, unless I have a big fat coupon. I don’t think I’m alone.
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