Marketing Industry The Largest Bookstore Chain - 1043 Words

Industry Description Book retailing is an industry where companies sell books and other reading media, including, audio books, e-books and e-readers. Some bookstores sell other products including DVDs, stationery and gifts. Price Waterhouse Coopers (PWCS) world network reports sales of sixty billion globally, including e-books (Hoovers Inc, 2016). Most Book retailers operate from storefronts, although some bookstores also operate online. Barnes Noble US, Fnac France, Page One China, Thalia Germany, and WH Smith UK are prominent companies in this industry. (Hoovers Inc, 2016). According to Yee, (n.d.). Dymocks is the largest bookstore chain in Australia; others include Collins Booksellers, Books and Gifts and department stores such as Meyer however, the book retailing industry is largely composed of small single storefront operators the largest chains making up only 40% of the market share (IBISWorld, 2016). Some retailers operate entirely online, prominent online retailers include Amazon and Booktopia ( Keshen, 2016). Some retailers sell a range of books, others specialise in a particular area of interest including, the Co-op Bookshop that retails textbooks or Book cafà © which sells children s books (Finding a bookstore, 2016). Significant Issues Facing Entrepreneurs in This Industry There are a number of significant issues for entrepreneurs examining this industry. The book retailing industry has faced a number of strong challenges recently. According to ibisworld,Show MoreRelatedMarketing Industry : The Largest Bookstore Chain1043 Words   |  5 Pagesâ€Æ' Industry Description Book retailing is an industry where companies sell books and other reading media, including, audio books, e-books and e-readers. Some bookstores sell other products including DVDs, stationery and gifts. Price Waterhouse Coopers (PWCS) world network reports sales of sixty billion globally, including e-books (Hoovers Inc, 2016). Most Book retailers operate from storefronts, although some bookstores also operate online. Barnes Noble US, Fnac France, Page One China, Thalia GermanyRead MoreBarnes Noble - Business Analysis1191 Words   |  5 PagesIt provides access to books, magazines, newspapers, and other content through its multi-channel distribution platform. The company sells its products directly to customers through its bookstores and on barnesandnoble.com. Barnes Noble conducts its online business through Barnes Noble.com, one of the Web’s largest e-commerce sites, which also features more than  3 million titles in its eBookstore.   Through Barnes Noble’s N OOK eReading product offering, customers can buy and read eBooks on theRead MoreIndustry Description Of The Retailing Industry1043 Words   |  5 PagesIndustry Description Book retailing is an industry where companies sell books and other reading media, including, audio books, e-books and e-readers. Some bookstores sell other products including DVDs, stationery and gifts. Price Waterhouse Coopers (PWCS) world network reports sales of sixty billion globally, including e-books (Hoovers Inc, 2016). Most Book retailers operate from storefronts, although some bookstores also operate online. Barnes Noble US, Fnac France, Page One China, Thalia GermanyRead MoreStarbucks : The Leading Coffee House1111 Words   |  5 Pagesdevelop into the international brand that it is today. 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At the firm’s web site, customers can search for a specific book, topic and etc. Customers canRead MoreMarketing Myopia1265 Words   |  6 PagesMarketing Myopia What is Marketing Myopia? Marketing Myopia is the short-sighted approach of management of focusing on a particular product and not identifying the correct industry the organization is in. (Levitt, 1975) In essence it implies that organizations should not define their business based on their products and should attempt to identify the business based on customer centric evidence. Organizations need to focus on customer wants and use customer centric evidence forming strategicRead MoreBarnes and Noble Strategic Audit6762 Words   |  28 PagesAnalysis: Barnes Noble Executive Summary Barnes Noble is a key player in the Book Retail Industry. This mature industry has been experiencing slow growth over the last several years, much slower than overall retail sales. Barriers to entry into this industry are quite high, and suppliers have modest influence over booksellers. The introduction of the Internet has brought about many changes to this industry. It has increased rivalry, buyer power, and substitutes. Spending time surfing the netRead MoreOverview Of The Publishing Industry Essay1533 Words   |  7 PagesPublishing Industry The publishing industry is not just for books. It involves production and marketing of information. Other than books, the publishing industry can be found in newspapers, magazines, cards of various types, music, and directorial software. Publishers of the content hold the copyright to the work which they or another artist produces. The different kinds of media can be found in hard copies, digitally online, through audio, or with a compact disk. The publishing industry in generalRead MoreBusiness Analysis : Brick And Mortar Stores794 Words   |  4 Pagesand its luxurious coffee products have tapped in to the increasing coffee consumption. It’s sleek and easy-to-use website has made ordering efficient and simple. BQ BQ is Europe’s second largest DIY-store and the chain falls on the fourth place in global comparison. But DIY is definitely among the industries that have had to reinvent itself and focus on online sales. Just last year, the company announced the closure of around 60 stores in the UK. BQ’s sales and profits have dropped, yet it’sRead MoreThe Amazon. Com1408 Words   |  6 PagesAmazon.com accepted payment from publishers to have books placed on recommended lists, widespread protests led the company to include disclaimers on the site and to broaden its merchandise return policy. Not only does Amazon.com lack a physical bookstore; it almost lacks books. Only a fraction of the titles available on its Web site are actually on shelves in one of its two warehouses. Most of the time, Amazon.com doesnt order a particular book from a distributor until after a consumer has ordered Marketing Industry The Largest Bookstore Chain - 1043 Words Industry Description Book retailing is an industry where companies sell books and other reading media, including, audio books, e-books and e-readers. Some bookstores sell other products including DVDs, stationery and gifts. Price Waterhouse Coopers (PWCS) world network reports sales of sixty billion globally, including e-books (Hoovers Inc, 2016). Most Book retailers operate from storefronts, although some bookstores also operate online. Barnes Noble US, Fnac France, Page One China, Thalia Germany, and WH Smith UK are prominent companies in this industry. (Hoovers Inc, 2016). According to Yee, (n.d.). Dymocks is the largest bookstore chain in Australia; others include Collins Booksellers, Books and Gifts and department stores such as†¦show more content†¦Over the five year period until 2015-6, there was an annual decline in revenue of 10.6% (ibisworld, 2016). Numerous challenges have beset the industry, such as, lower book prices, strong competition from online retailers and a change in popular ity from printed books to e-books (ibisworld, 2016). Other issues that have a significant effect on bookstores are parallel import restrictions (IBISWorld, 2016), and online retailers being advantaged by low freight charges and often no requirement to pay (GST) Goods and Services Tax (ABC, 2016). Encouraging Signs However, there are encouraging signs according to Williams, (2015) who points to the icon of bookstores Dymocks, which claims to have had its best ever sales year. Sydney book retailer Jon Page noted an upward surge in sales in the final quarter leading up to Christmas, a period that accounts for around 70% of annual sales (Han, 2015). According to the Nielsen book scan data, there were 55.4 million in sales of printed books in Australia last year, a 2.2% increase over the previous year, the first sales increase since 2009. (Han, 2015). Some of the downturns in printed book sales may be as a result of economic conditions which have affected all retailers. According to Page, (n.d.) the global financial crisis has dramatically changed retailing regardless of your product (Han, 2015).The chief executive of the Australian Booksellers Association, Joel Becker commented,