Barnes & Noble: Your Go to Book Store
Barnes & Noble is one of the largest bookstore chains in the USA. This is because it has over 600 superstores in all USA states. The stores are anywhere from 3,000 sq. ft. to 60,000 sq. ft. in size and can stock up to 140,000 book titles. The company also has an online presence and this extends to the sale of other media content and educational material. Nonetheless, the company is in a bit of a transition to add all kind of digital content and not necessarily educational content online. This is because of the general decline in book culture across the market with the rise in digital devices.
The company has a significant advertising budget spending about $ 28 million dollars in 2018. This makes sense given the revenues of about $ 3.6 billion in that year. Nonetheless, Barnes & Noble is struggling to mark profits in the current market given the digital landscape. This perhaps explains the drive toward content diversification.
The company’s revenue mostly comes to the retail bookstores. The books are generally hardcover and paperback consumer titles. They range from mystery, romance, science fiction and other fiction, children's books, eBooks and textbooks. There is definitely a lending service for most of these items. Additionally, the stores mostly have a dedicated NOOKS (digital) area, a café. Additionally; there are departments with Toys & Games, DVDs, Music, Music & Vinyl, Gift and magazines.
In recent years, the e-commerce section has become more prominent. This is because of the efficiency of online marketing. There is an eBookstore, and a variety of other services to go along. The services are mostly retail meaning that vendors get direct services. Notably, the NOOKS segment acquires book rights before distributing the EBook content to third parties.
It goes without saying that the bookselling industry is shifting constantly. The rise of Amazon in particular has made profits slim for other retailers. Accordingly, this company is seeking to change from a store-based model to a multi-channel model centered on its retail stores, Internet, and digital commerce. This will be a necessary move to obviously cope with the times. Besides, Barnes and Noble can still capitalize on its brand to focus on books and still make significant sales.
The company launched a shipping service last year and has a membership programme to go along. This has built a membership base of over half a million. Moreover, the company will launch a mobile app to boost community discussions and recommendations.
Barnes & Noble is a great brand and rightfully so. The consistently excellent service has given it a reliable reputation over the years. That said, the company has to adapt to the realities of modern consumption and retail. The measures in place should make for a successful transition and a bright future.