You've probably seen books priced at 1 cent on amazon. Perhaps you've bought them. Maybe you've even sold them. How can bookstores compete?
Well, they can't.
Here is an article from the International Herald Tribune on the catastrophic situation of booksellers and publishers :" Bargain books have an unexpected cost" by David Streitfeld
"U.S. book publishers and booksellers are full of foreboding - even more than usual for an industry that has been anticipating its demise since the advent of television. The holiday season that just ended is likely to have been one of the worst in decades. Publishers have been cutting back and laying off. Houghton Mifflin Harcourt announced that it would not acquire any new manuscripts, a move akin to a butcher shop proclaiming it had stopped ordering fresh meat.
"American bookstores, both new and secondhand, are faltering as well.
"Olsson's, the leading independent chain in Washington, went bankrupt and shut down in September. Robin's, which says it is the oldest bookstore in Philadelphia, will close next month. The once-mighty Borders chain is on the rocks. Powell's, the huge store in Portland, Oregon, said sales were so weak that it was encouraging its staff to take unpaid sabbaticals.
"Do not blame this carnage on the recession or any of the usual suspects, including increased competition for the reader's time or diminished attention spans. What is undermining the book industry is not the absence of casual readers but the changing habits of devoted readers.
"In other words, it is all the fault of people like myself, who increasingly use the Internet both to buy books and later, after their value to us is gone, to sell them."
To read more, click here.
