With the increasing popularity of e-books, physical bookshops are facing an uphill struggle. In order to survive, independent bookshops are forced to reinvent their business model. Johns adapted his shop to the tourist culture of his city, where he stocked the store with local favorites. Today, he competes with online retailers on stock selection, knowledgeable staff and a welcoming environment. And he sees signs of growth as he adds new titles to his collection.
COVID-19 has Slowed Down the Logistics Network and Caused Homebound Self-Isolation
While brick-and-mortar bookshops have struggled to survive since the rise of e-commerce in the early 21st century, they have been growing steadily in China, thanks to support from local governments. However, the recent epidemic of COVID-19 has dealt a further blow to the stressed industry, as it has slowed down the logistics network and caused homebound self-isolation. With the emergence of online retailers, physical bookstores have sought out innovative ways to stay afloat.
Amazon has been the ultimate bottleneck force for the industry, wiping out blandly sold books and destroying the physical bookshop. Yet the survivors survived by selling experiences and goods, including books for gifts. This trend may have inspired the establishment of a new breed of experiential bookstores. And so, while the future of e-books remains uncertain, physical bookstores are adapting to a changing environment. The key is to stay relevant.
The Trend of Online Booksellers has Proven to be a Positive One
Despite the challenges faced by physical bookstores, the trend of online booksellers has proven to be a positive one. As online retailers have continued to increase their presence in the market, physical bookstores are focusing on the things they cannot do online. These include events with authors, book clubs, and personal recommendations. With e-books becoming more popular, they will be able to attract more customers and thrive.
Although Amazon was the ultimate bottleneck force, physical bookshops have remained resilient. They have maintained official accounts on WeChat and have adopted WeChat groups. Despite the rapid development of online booksellers, brick-and-mortar bookstores have continued to thrive. While digital booksellers are still a major threat to traditional bookshops, they are still a valuable part of the economy. And many of them have already adopted strategies to compete with Amazon.
Another Important Factor for Physical Bookshops is their Online Presence
For instance, while e-bookstores are largely online-only, brick-and-mortar bookshops are still necessary for a number of reasons. First of all, they are friendly places where customers can interact with authors and books. Second, physical books can be physically handled and seen. This is a tactile experience that no other type of retailer can match. Secondly, physical bookshops can help new authors gain a customer base.
Another important factor for physical bookshops is their online presence. With their official accounts on WeChat, these stores can be found on a map. This helps potential customers find local booksellers and help them buy the products they want. Moreover, they contribute to the earnings pool of local independent bookstores. So, while Amazon has made its own way to become The Everything Store, physical bookstores have been unable to stay afloat.
Another Important Reason is the Need to Establish a Customer Base
Another important reason for physical bookshops is the need to establish a customer base. They are a warm and friendly place, a great source of inspiration for new authors. A physical bookshop can be the first point of contact between a reader and a bookstore. Therefore, a bookstore should be a welcoming space for people to interact with a book. But the biggest benefit of a physical bookstore is its reputation.
The advantages of physical bookshops are not limited to price. They offer more than just books. In addition, they are friendly places where readers can touch, handle and even try on books. For this reason, they are also an excellent place for new authors to build a loyal following. So, a physical bookstore can attract many more customers than an online one. This means that physical bookstores will remain relevant for years to come. There are a lot of advantages to having a physical bookshop in a neighborhood.
Amazon was a Virtual Bookshop
In the beginning of the century, Amazon was a virtual bookshop, but in 2015 it opened its first physical bookstore in Seattle. Its goal was to take its online prowess to the high street. They also analyzed the shopping habits of their millions of users and ranked the most popular books on the shelves. Hence, they have become the most visited bookstores in the city. Currently, the revenue from Amazon’s physical stores is nowhere near the same as that of other parts of the company, but they have done an excellent job of surviving.
