Notes: Local First T-Shirts; Rewarding Borders?
Cool idea of the day: for $7.50 each, the Great Lakes Booksellers Association is selling "Buy Local First" T-shirts that have the slogan "Local booksellers are members of your community. They care and they contribute." As GLBA puts it, the T-shirts are "great for staff uniforms at sidewalk sales or other store events."
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Today's Wall Street Journal cheerfully explores how three "risqué" videos promoting The Average American Male by Chad Kultgen run on YouTube and spread elsewhere on the Web have helped the Harper Perennial novel go back to press three times and reach 30,000 copies in print. The reason for the nontraditional marketing approach? The "salacious tale of how men daydream about women turned out to be too steamy for most newspaper and magazine editors to touch."
But there's a special problem involving the audience for Average American Male: "Only a fraction of the million views has so far turned into sales, likely because the people watching the videos aren't frequent book buyers."
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Another Barnes & Noble College store is
moving to a location that will serve the local community as well as the campus. The B&N
bookstore at Pacific University, Forest Grove, Ore., will open in a
4,000-sq.-ft. site downtown on July 1 and will "continue to sell
student textbooks while expanding its selection of trade materials for
the public," the Hillsboro Argus reported.
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Effective April 12, Borders will begin shelling
out "Borders Bucks" as part of its Borders Rewards loyalty program.
Members will earn "Borders Bucks" in increments of $5 for each $150
they spend on qualifying purchases in a calendar year at Borders and
Waldenbooks stores in the U.S. When customers reach the $150 level,
they will receive a $5 certificate via e-mail at the beginning of a
month that must be spent by the end of that month.
The company is also adding what it calls Bonus Rewards Events, under which members get special deals periodically.
Borders Rewards members will continue to receive weekly coupons and
savings opportunities through the Borders "Shortlist," an e-mail
newsletter that highlights the hottest titles each week. However,
Borders's old holiday savings rewards and personal shopping days are
ending.
In a story titled, "Borders Slashes Buyer Rewards, Cuts Discounts," today's Wall Street Journal argues that the old
plan could be much more advantageous to consumers. "Members were given
Personal Shopping Days, which enabled those who had spent $50 in a
month to apply a 10% discount on all purchases made on a specific day
in the following month. Gift cards were the exception. Customers also
received a credit equal to 5% of their store purchases made through
Nov. 14 in a special Holiday Savings account. That credit could then be
used on purchases made from Nov. 15 through Jan. 31. The only caveat
was that customers had to have at least $10 in their account--which
meant they had to have spent a minimum of $200 to qualify."
Under the old program, Borders "had to absorb all of the Holiday
Savings account spending during its fourth quarter, a period when
shoppers would have been in the stores anyway buying gifts. Under the
new program, the impact on the company will be more regulated by
enabling customers to claim their Borders Bucks year-round."
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Today's Wall Street Journal also surveyed analyst reaction to Borders's new strategic plan, announced last week, and bookselling in general.
Some analysts applauded the new plan and said they believed that "a more profitable core" will "yield
substantial free cash flow." In addition, continued speculation about a
takeover or merger has perked Wall Street interest in the company.
But some noted that, as the Journal put it, "The climate for
booksellers continues to get more challenging, and that hurts the
likelihood of a successful turnaround." Problems include "sluggish
reading trends, inroads made by used booksellers, and increased
competition. The retail book business hasn't shown any growth in recent
years, as other leisure activities besides reading increasingly eat up
people's free time."
One analyst wrote bleakly: "Longer term, we see an ultra-competitive landscape offering razor-thin margins on books and music."