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« on: September 07, 2007, 07:14:39 PM »
Just to give a contrast between B&N and Waldens, here's what happened at my store:
I ordered whatever the flip I wanted, and in the quantity I wanted. I sold everything I ordered. I made my location the #1 ranked Waldens out of 700 stores.
Here is the mindset difference - Waldens believed (note the past tense) that its sellers knew what was best to have in inventory, and let them order in what they wanted. They still got initial shipments in, but a good store manager knew what to request more of. Many stores wouldnt request certain genres because they said they didnt sell that type at their store...garbage.
Any store can sell any genre if the people there know how to sell it.
Now, as far as selling strategies go, many of you already know my opinion - but i really dont ever grow tired of saying what I think...so there.
B&N doesnt stock very many hard backs (HBs) unless you are a person who has a history of being a #1 NYT Bestseller. The thinking in most cases is that HBs are harder to sell due to their ever-inflating price-tags. B&N returns most of thier hardbacks after a certain amount of time. Then, they load up on mass-market (MM) paperbacks (PBs). They are easier to sell, and the cost of your inventory on-hand per unit is far less. This strategy, in my opinion, is flawed, because you dont place any faith in a stores ability to sell - and you are losing out on a huge potential profit.
Waldens on the other hand lets thier managers order in whatever, with the rule that if you order it, you better sell it. Many Walden's focus on HBs nearly exclusively. They get in very few PBs in comparision to other book chains. I also feel this too is flawed, because if your sales staff isnt in top shape, you stand to lose a lot of money.
I feel that the way to go is somewhere in between the 2 ideals. Book businesses are doing aweful. Rather than provide service and gather great sales people to attract new and loyal customers, they fall into the price wars trap. I am beginning to think that none of these people understand basic marketing principals. Price wars only generate one winner - the buyer...and thats only in the short term. All sellers lose here because they eventually sell their books at a loss to attract more customers (Harry Potter anyone?...I bought mine for 50%off...thats a 4% loss in the best situation). That strategy only works if you have good sales people to drive up the units per trnsaction...of course, these same stores dont have good sales people generally since they are relying on crazy discounts.
Stores have to be more flexible. Brandon isnt the first author to suffer from bad business strategy, and he wont be the last. Stores need to realize the profit benefit from have people who can sell HB efficiently, while pairing them with PBs in mass quantity (the only way to make money on PBs). Regardless of what all stores and people in Corporate think, people will buy HBs regrdless of price and economic circumstances. I've seen it in work in different situations and economies, but the comnpanies wont pony up the wages to hire good people, and they insist on going back to aweful strategies.
Before I used to pimp Waldens as being awesome, but guess what? They have fallen into crappiness. Instead of seing how nearly all Waldens were making profits and looking at why, they have decided to close nearly all the Waldens over the next year to make more Borders...too bad Borders stores on a whole dont profit at all.
Sorry to rant, but some serious changes need to be made, other wise all current authors (and future ones) will suffer.