Friday, June 29, 2007
Bookshop news

Two stories from yesterday's PN Online depressed me.

The first was about HMV's 'disappointing results'. The headline affecting the book trade is that Waterstone's like-for-like sales were down 4.1% in spite of all the price promotions, marketing activities, Richard and Judy hype and some brilliant books being published. Apparently, this year has started better and we all want the new team at Waterstone's to succeed. My concern is that the Chairman's statement doesn't seem to address the fundamental need to sell more books at economically viable prices:

 “The strategy has three important strands: protecting our core business, saving costs aggressively and growing in new channels and related products. The environment for entertainment and books retailing will remain highly competitive. However, with aggressive plans, focused leadership and the continued commitment and dedication of our employees, our resilient brands will strengthen their market positions and performance as they comprehensively satisfy the preferences of our customers.”

The second story relates to a much smaller chain, Fopp Music Books + Film who are fighting to avoid bankrupcy and the closure of its 46 stores. Fopp has tried to innovate with very contemporary shops and eclectic purchasing but it doesn't look like it's working.

Add these two stories to the continuing drip drip of independent bookshop closures and the picture for book retailing in the UK does not look pretty. It's a little too easy to blame the lack of retail price maintenance, or competition from supermarkets and the Internet, or the existence of a returns system. It is also simply too easy for bookshops to demand ever higher discounts (or marketing bungs) from publishers. A vibrant high street book trade is vital culturally as well as economically. We must fix it - and fast.

#    |  Comments [8]  | 
6/29/2007 8:44:48 AM (GMT Standard Time, UTC+00:00)
Richard

When the likes of Fopp were selling some desirable current £7.99 Penguins at only £3 then you have to ask yourself what the heck is going on.

A few months ago a director from a major furniture manufacturer was in my shop. We discussed the state of the booktrade, discounting etc : he stated categorically that his business would not supply any outlet which was prepared to offer goods at a price at which the seller could not make a viable long-term trading profit.

The predatory pricing will kill the booktrade and with it many publishers.

Do the publishers have the spunk to act ??? Has the cover price on books become a total sham ???
Clive Keeble
6/29/2007 12:09:27 PM (GMT Standard Time, UTC+00:00)
I agree, of course, with your final sentences. A vibrant high street is important and needs some fixing. I also urge your colleagues to act and bring pressure to strengthen the book collections and acquisition policies of the UK public library service.

There are 3,500 outlets, normally physically larger than their counterpart book stores, mostly in more remote places of which the premises are paid for out of taxation for very good reason and do not have to face the cruelties of prices in the property market.

For many years those who operate public libraries have argued that the strength of book retailing has reduced the need for public libraries to be so comprehensive. This was not an argument that should ever have been of anything but marginal consequence- but now it can be used to stir those who articulated it into changing tack.

I beg all publishers to be more active in their urging the revival of our public libraries. There are many library and governmemnt authorities who truly believe that books are a thing of the past- and there is an important riole for publishers to tell them that is not true.

You (Richard) have been very good - but apart from one or two others in England and Scotland, you have been almost alone. It is time for publishers to speak more loudly and clearly. Book purchasing for public libraries needs to be doubled and more. tim
Tim Coates
6/29/2007 7:57:35 PM (GMT Standard Time, UTC+00:00)
But it isn`t going to be. One thing could stop right now... the demand that publishers GIVE FIVE FREE COPIES of every single book they publish to the British Library. Apart from anything else it is a huge waste of storage and other resources. This is something that digital and POD really can help sort out.
SUSAN HILL
6/29/2007 9:42:59 PM (GMT Standard Time, UTC+00:00)
I agree about the copies to the copyright libraries and I did try to do something about it. However, it is an Act so arcane and woven into all sorts of constitutional matters that it would take years to repeal it.
richard charkin
7/1/2007 10:08:25 AM (GMT Standard Time, UTC+00:00)
You can just ignore the demands from the British Library.

If they are going to make your work freely available to scanners, I think such an action is simple prudence and common sense.
Tim Coates
7/1/2007 11:00:20 AM (GMT Standard Time, UTC+00:00)
Tim, I wish it were so, but you cannot simply ignore demands from the British Library - http://www.bl.uk/about/policies/legaldeposit.html.
And I should add that the BL does not digitise material or allow material to be digitised without permission. Thankfully, unlike some American libraries they act entirely within the provisions of copyright and as such are a real ally of authors and publishers.
richard charkin
7/2/2007 6:46:46 AM (GMT Standard Time, UTC+00:00)
But back to the main topic of this thread - A large part of the reason for Fopp's failure, in my view, was the dumb acquisition of Music Zone. This comprised lousy assets, and probably stretched the (slightly wacky) management too thinly.
Paul S
7/3/2007 8:31:46 AM (GMT Standard Time, UTC+00:00)
Just to confirm -- Fopp have finally gone under:

http://www.fopp.co.uk/down.html
Mark Thwaite