Indie Bookstores Outpace General Retail
Throughout the holiday season, we’d been carefully watching the National Retail Federation’s daily reports on the outlook for retailers. There was lots of talk about how social media would be aggressively used, along with steep discounting to attract customers into stores. And even more speculation: Has the economy sufficiently recovered to put people in a gift-giving mood?
Many national retailers struggled to not only get people physically into their bricks-and-mortar stores, but also eroded profits by discounting to drive sales, believing that even a modest gain was better than a record loss.
There was quite a different story for booksellers, according to this week’s report from Publishers Weekly. Brookline Booksmith, an award-winning indie bookstore, reported a “stellar year.” The Book Cellar in Chicago boasted a 38% holiday increase, and Beaverdale Books in Des Moines noted being up 29% for the entire year. In previous updates from Publishers Weekly, Andersons Bookshops in the Chicago area, BookPeople in Austin, and a number of others also reported strong holiday seasons.
How do we explain these double-digit increases in sales at indie bookstores that generally offer no discounting? What’s even more noteworthy is that this year lacked the mega blockbusters like last year’s Steve Jobs biography, and e-book sales continue to increase (yet at a much slower rate). If you’re thinking of opening a bookstore or buying an existing store, you might want to ask yourself the same question … what’s special about indie booksellers that they would outpace national retailers?
Maybe a growing number of people want to unplug from the hype and experience something authentic. Perhaps shopping at a place where you can browse “real” books is appealing in a society where a frenetic pace has become the “new normal.” Having someone smile and offer to gift wrap your book for free? How refreshing. Hanging out in a place that won’t text you an offer while you’re browsing, but will offer some delightful personal recommendations? That’s where I want to be – and suspect that I’m not alone!
Sensible family-owned businesses don’t generally jump at the latest trend or rely on hype and bling to connect with customers. While national retailers scurry for the latest high-tech tool or play games with prices, indie business owners will do what they do best: present really great merchandise, invite you to come in and feel comfortable, be welcoming and genuinely nice on a human level, and be incredibly grateful that you choose to support a local business.
Bravo, indie booksellers for a stellar season! The “Indie” and “Shop Local” movements continue to gain momentum, and you’ve proven that the most important business strategies are not only fundamental, but timeless as well.