- The US book industry includes about 10,000 stores with combined annual revenue of about $17 billion. The industry is highly concentrated with 50 largest companies accounting for about 75% of sales
Large chains can provide broader selections and lower prices. Smaller and independent book stores compete by offering specialized book selections catering to a particular customer type.
The buying patterns are largely influenced by population demographics and the consumer’s disposable income.
With buying over the Internet and e-book readers gaining popularity an independent book store is faced with the challenge to not only increase revenue from the existing book stores, but to also retain the customer base.
Book Stores carry large inventories ranging anywhere between 20,000 to 100,000 titles. Inventory Management is the key.
Ability to collate, analyze and act on consumer preferences, sales trends and keep track of changes in publishing industry are imperative to succeed in the book store retailing industry. Also a Retail Management Software for Book Store Retailers is a must have.
Some of the key challenges that book store chain faces include:
- Multiple tracking and search options – by title, by publisher, by Author, by ISBN and more importantly by language; imagine searching for a book written in Hebrew in an non-Hebrew speaking country
- Options to return unsold/slow moving books to publisher with ability to manage the credit in different ways.
- Comprehensive promotions
- Comprehensive customer relationship management – customer history, preferences and buying patterns
- Excellent inventory management – ability to analyze fast and slow moving items to optimize shelf space and improve shopping experience
Such a balance requires an integrated business management solution that allows flexibility to cater to the diverse & unique demands of Book Store Retailers. A Retail Management Software that seamlessly integrates all business processes from the POS at store to the planners at the Head Office lowering the overall cost of operations, simplifying expansion and enabling the Book Store Retailer maintain his unique proposition and positioning.
