Introduction
Bookselling is a complex business predicted to die from the dominance of electronic books and audio recordings. However, the traditional book business has survived and is thriving. According to the European and International Booksellers Federation (EIBF) 2022 report, the global book trade shows a modest but steady growth of up to 5% on average («Global bookselling markets», 2021). Moreover, many bookstores worldwide have become places of interest for connoisseurs of literature. This not only helps to run a business with profit but also allows you to engage in charitable initiatives, support emerging writers, and shape the literary tastes of society through your ideas and manifestos. On the example of The Strand Bookstore, Verbatim Books, and Women & Children First, one can discover what strategies contribute to a successful book business.
Overview of Bookstores Features
The Strand Bookstore was founded in 1927 in New York and is still a successful family business. The Strand has gone from a small shop on Fourth Avenue to one of the most exciting places for New Yorkers to read. Business owners position it as a “community bookstore” and call it their primary mission to create a space where book lovers can gather, communicate, and meet authors. The founder of Strand, Ben Bass, was guided in his vision by the legendary European bookstores that served as the center of social life in the 19th and 20th centuries. He borrowed the name for his store from one of the streets of London, famous for its publishing houses and bookstores. The owners of Strand call their primary value a loyal community of buyers who remain faithful to the store and ensure its prosperity.
Verbatim Books in San Diego was founded in 2015 but has also gained cult status. The creators decided to play with the concept of a second-hand bookshop, turning it into a space for socializing, reading, and holding events. New books are also sold here, but not those that come out in mass editions, but only from small independent publications. The primary mission of Verbatim Bookstore is to support the secondary market of books and local mini-publishers, which often need help distributing their products. In their business vision, the creators relied on the image of a place full of unexpected literary discoveries, where readers would be interested in spending time and expanding their horizons. The central values ​​of this store are support for the cultural environment of San Diego, independent authors, and local publishers, and stimulating reader interest in rare and non-standard literature.
The third bookstore selected for comparison stands out from the rest with its unconventional positioning. The founders of Women & Children First, intersectional trans-inclusive feminists, first established their store in Chicago in 1979 and have stuck to their vision of an inclusive space ever since. The mission of this bookstore is to support women’s communities and feminist literature, educational, and charitable activities. The creators see their store as a safe place for socializing and discussion, with a focus on feminist book selection. The core values ​​of Women & Children First have not changed over the years – they are women’s education, support, and employment, as well as faith in literature’s unifying and healing power.
Similarities
These three independent bookstores have some standard features that contribute to a successful business. In particular, each offers a comfortable environment of like-minded people, where there will be no stress factors, and the buyer can make his buying choice in a calm and friendly atmosphere. This strategy is typical for many small businesses, as it allows them to attract the attention of buyers and compete with larger network giants (Badis et al., 2019). Despite the different approaches to forming certain aspects of the “comfortable environment,» this common aspiration is seen in the vision of its concept for each of the three players in the market. Also, each of the three bookstores aims to host additional activities in their space, including books – for example, readers’ meetings, social events, concerts, and parties. This opportunity for independent bookstores sets them apart from the big bookselling giants (Gu & Jang, 2018). Moreover, it allows for stronger connections within the reading community and between the community and the business.
Differences
The differences between these bookselling enterprises can be found in the field of positioning and means of attracting the attention of buyers. Independent bookstores are exploiting the idea of ​​their uniqueness and commitment to specific values ​​to succeed in the face of the expansion of bookstore chains and the growth of online sales (Gu & Jang, 2018). However, the emphasis and target audience usually differ strongly, expressed in different values ​​inherent in each enterprise.
For example, The Strand Bookstore lists a loyal community of readers as its primary value. It has no focus on an exceptional exclusive assortment but instead tries to provide the broadest possible choice to satisfy various reading interests. This approach has certain disadvantages – for example, there may be problems with self-positioning and difficulties in highlighting your uniqueness. This distinguishes The Strand Bookstore from Verbatim Books, whose value lies in their unorthodox selection of rare books and materials that set them apart from other independent bookstores. This allows a strong community of readers interested in unusual choices and special editions around the store (Tomanová & ÄŤernĂ˝, 2021). However, originality does not contribute to the massive influx of buyers and imposes some restrictions and obligations on the business in terms of development and change of the concept.
Women & Children First has the most specific values, emphasizing support for minorities and identifying an educational mission for the women’s community as its core values. This tactic first appeared among small businesses in the United States in the 1970s (BĂĽrgi & Schulz, 2021). In addition to a great social mission, it carries some sustainability for the enterprise, as it allows owners to build a more transparent business strategy and create a loyal consumer community (Jolly, 2021). However, as with Verbatim Books, this factor may limit the number of interested buyers. Engaging the feminist agenda also imposes certain obligations on business owners. Any action that does not correspond to the main idea or even harms it will be viewed negatively by a loyal audience and can cause a decline in sales.
Conclusion
The independent bookstores in this selection are united by the idea of ​​creating comfortable spaces for their readers. In this, they oppose themselves to the giants of the book business and online stores. However, the target audiences of these bookstores differ, even though each is engaged in bookselling. This specialization allows them to stabilize the influx of customers and manage the business more efficiently. Steady sales growth in independent bookstores is an indication of the success of this tactic.
References
Baidis, S., Greco, A. N., Kontolios, M. D., McCullen, M., Rittenhouse, N., & Wharton, R. M. (2019). Creating competitive advantage: The growth of independent bookstores in the U.S. 2009–2018. Publishing Research Quarterly, 35(4), 670–684. Web.
Bürgi, L., Schulz, K. (2021). Communicating Through Books, Spaces and Personal Exchange: Women’s Bookshops as Cultural Translators (1970s–1990s). In: Bracke, M.A., Bullock, J.C., Morris, P., Schulz, K. (Eds.), Translating Feminism. Palgrave Studies in Language, Gender and Sexuality. Palgrave Macmillan, Cham.
Global bookselling markets 2021 – Europeanbooksellers.eu. (n.d.). Web.
Gu, S. A., & Jang, W. (2018). Independent bookstores and cultural community – Characteristics and classification –. Humanities Contents, 51, 93–123. Web.
Jolly, M. (2021). Purpose, power and profit in feminist publishing: An introduction. Women: A Cultural Review, 32(3-4), 227–247. Web.
Tomanová, P., & černý, M. (2021). Efficiency of antiquarian bookshops in informationally complete markets. Central European Journal of Operations Research, 30(2), 573–593. Web.