Nobody can refute that the eBook revolution dealt a major blow to the businesses of traditional bookstores. However, despite the tough economic times, small bookstores are reporting increased sales, thanks to their savvy business strategies and adaptability. According to the American Booksellers Association, sales of books in 2012 were 8% higher than the previous year. This is a remarkable improvement considering that national bookstores did not do so well. It is now apparent that the many people who predicted the demise of print books spoke too soon. Though booksellers are still anxious, they have started to figure out how to remain relevant in the publishing industry.
One of the reasons why independent bookstores are able to bear the brunt of the eBook revolution is that they are now being treated with more importance by traditional publishers. Traditional publishers cannot survive without places to sell print books. In the 1990s, the size of small bookstores used to be considered a disadvantage, but today it is one of their biggest advantages. According to Michael Tamblyn, the CEO of Kobo (an e-reading company), indie authors are “small, fast-moving mammals” in the modern publishing industry. His company is partnering with small independent bookstores to sell e-readers and eBooks.
There are several developments that have worked in the favor of indie authors in the past few years. One of them is the uncertain future of big bookstores. The head of a Michigan bookstore chain that closed its stores in 2011 says that indie authors and people who buy print books have found their way to small independent bookstores.
The ‘buy local’ movement is an initiative that encourages people to buy locally produced items. It has grown significantly over the past six years and it has helped communities all over the country to support bookstores by buying print books instead of ‘foreign’ eBooks.
Although the eBook revolution pounded many traditional bookstores into the ground, there has been a gradual increase in the number of bookstores countrywide. The American Booksellers Association had its lowest membership in 2009. It had 1,401 members operating in 1,651 locations. This number increased gradually and three years later the association had 1,567 members operating in 1,900 locations.
One of the reasons cited for the survival of independent bookstores is that so many bookstores were closed that there is now a sustainable number of bookstores remaining. About 1,000 bookstores closed shop between 2000 and 2007. Bookstores are still going out of business but more are coming up in their place. Bookstore chains that operate nationally are the ones that are affected most as they have to close some or all of their stores. Now when a big store closes, is replaced by two or more smaller stores.
One of the encouraging developments in the publishing industry is that many independent bookstores are increasing their shelf space. In Boston, for instance, Trident Booksellers & Café added a second floor, effectively doubling its floor space to over 6,000 square feet. Many bookstores are also increasing their revenue streams by doing other businesses in order to supplement income from book sales. This is a business model that has been proven to work time and again.
