“The Incredible Shrinking Barnes & Noble.” This was the LA Times‘ blog post yesterday. I like it and I have stolen it. It speaks volumes to the future of the mall. Entertainment centers for browsing shoppers are shutting down.
Barnes & Noble sees 30% fewer stores in the next decade. The bookseller had 726 stores in 2008, 689 stores in 2012 and in 10 years this will drop to 450? Perhaps this is optimistic? The certainty is that there will be much shuttering.
Barnes & Noble’s projected closings and Target’s new price-matching policy are all signs of retail in distress. The trend toward mobile shopping is likely to have a lasting impact on the retail landscape.
The physical bookstore could become a thing of the past.
With the mobile consumer in mind, a yoga studio could sell books about spirituality and enable customers to tap their phones to order a physical or digital book in a context-rich environment. The same is true for a doctor’s office, a movie theatre and other locations.
Barnes & Noble executives are undoubtedly aware – as Borders executives before them – that the 2010s are eerily reminiscent of the music industry in the 2000s. Books, reading, and commerce behaviour has changed.
The relationship between shopper and store has changed.
Does this mean good riddance to bookstores, publishers, agents? Perhaps there is a new, more efficient order in town? Perhaps a new, streamlined business model would be both good for consumers and good for the industry long term?
Unquestionably the market and mall is primed for new disruptive models. Amazon coming in with Apple-like book genius bars? New purchase, delivery and consumption models that live between the store and the Amazon cloud?