How independent bookstores are knocking out the heavyweights
How independent bookstores are knocking out the heavyweights
Independent bookstores are carving a strong place for themselves in the marketplace and against the heavyweights of the industry, according to the Financial Times.
In an industry that has been affected by the economic cycle, independent book stores have used their quirky book choices and provision of often 'overlooked titles' to provide a 'more consistent service', says the FT. "...they can put themselves out there to find new authors." says Meryl Hall, head of membership services at the Booksellers Association, in the Guardian.
Where once bookstores faced difficult times, particularly in finding properties with rent cheap enough to 'accommodate the slim margins', these shops have boomed over the last year, ousting big name brands and capturing the niche marketplace they've searched for so long.
The recession has seen rent fall on properties across the UK, allowing individuals to set up their own bookstores, using methods such as setting up deals with local libraries to start up their inventory. Such deals see the library donate a certain amount of extra or outdated publications, in return for a % profit of the bookstores' return.
The only obstacles that independent booksellers potentially face are the reduced rates or tempting offers on books offered by larger bookstores or even supermarkets. The fast rise of ebooks has caused some grief for both small and larger booksellers, and with authors at times being awkward with their publication, there can be times where smaller stores simply cannot capture the stock required.
The latter has come to light recently with the Giller award-winning book, 'The Sentimentalist', written by Johanna Skibsruds. Each copy of this book is hand-crafted, allowing for only 1000 to be manufactured every week. Although this approach sets Skibsruds book apart from the rest, thus making consumers more inclined to pick up, it can mean smaller bookstores struggle to buy in the right amount of stock - then having to say sorry to their disappointed customers.
However in 2009, Nielsen BookScan released figures showing that consumers' spending on books fell by 1%, the UK's independent bookstores saw a 1% rise in volume, throughout the same period. "The upside of being an independent bookshop is that booksellers can make their own decisions quickly - if something isn't working, they can change it.", Meryl continues, "...the independents that are running their businesses professionally and well are certainly holding their own."
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