When Amazon.com burst onto the nascent online retail scene in 1995, the future seemed bleak for brick-and-mortar independent bookstores—which already faced competition from superstores like Barnes & Noble and Borders. Indeed, between 1995 and 2000, the number of independent bookstores in the United States plummeted 43%, according to the American Booksellers Association (ABA), a nonprofit trade association dedicated to the promotion of independent bookstores.
But then a funny thing happened. While pressure from Amazon forced Borders out of business in 2011, indie bookstores staged an unexpected comeback. Between 2009 and 2015, the ABA reported a 35% growth in the number of independent booksellers, from 1,651 stores to 2,227.
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Five years ago, [Ryan Raffaelli, an assistant professor in the Organizational Behavior unit at Harvard Business School] set out to discover how independent bookstores managed to survive and even thrive in spite of Amazon and other online retailers.
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Here are some of Raffaelli’s key findings so far, based on what he has found to be the “3 C’s” of independent bookselling’s resurgence: community, curation, and convening.
- Community: Independent booksellers were some of the first to champion the idea of localism; bookstore owners across the nation promoted the idea of consumers supporting their local communities by shopping at neighborhood businesses. Indie bookstores won customers back from Amazon, Borders, and other big players by stressing a strong connection to local community values.
- Curation: Independent booksellers began to focus on curating inventory that allowed them to provide a more personal and specialized customer experience. Rather than only recommending bestsellers, they developed personal relationships with customers by helping them discover up-and-coming authors and unexpected titles.
- Convening: Independent booksellers also started to promote their stores as intellectual centers for convening customers with likeminded interests—offering lectures, book signings, game nights, children’s story times, young adult reading groups, even birthday parties. “In fact, some bookstores now host over 500 events a year that bring people together,” Raffaelli says.
Link to the rest at Quartz and thanks to Dave for the tip
PG is in favor of people being free to start and run businesses which they believe will provide useful products/services that customers will enjoy and pay for. According to the OP, that appears to be what the owners of Porter Square Books are trying to do.
Porter Square Books is located in Cambridge, Massachusetts.
For those unfamiliar with Cambridge, it is full of people who are those associated in one way or another with extremely expensive private universities – Harvard (estimated annual undergraduate cost of $63,025 for tuition, room, board, and fees) and the Massachusetts Institute of Technology (estimated annual undergraduate cost of $ $65,478 for tuition, room, board, and fees).
Harvard pays its full professors an average salary of $198,400 per year. The median price of a single-family home in Cambridge hit $1,675,000 during the first four months of 2016.
PG is not denigrating Cambridge or its institutions in any way. He has always enjoyed his many visits there. It’s a stimulating and active community environment and right across the river from downtown Boston which offers an even wider range of attractions and amenities for those who are able to afford them.
PG’s point is that the business environment in which Porter Square books operates is probably optimum for a physical bookstore in 2017 and also atypical of most US cities and suburbs.
The population of Cambridge is currently estimated at 105,162. Fargo, North Dakota, Charleston, South Carolina, and Green Bay, Wisconsin, have populations about the same size.
Green Bay has a median household income of $43,063. The median home price is $129,600.
PG wonders how Porter Square Books would do if it were operating in Green Bay.
A quick internet search found something PG had not expected, Readers Loft Bookstore in Bellevue, a suburb of Green Bay, which appears to be doing well as an indie. PG will leave his earlier remarks in place so you can see a failed snark setup in action.
This is a C-span video and PG apologizes for not being able to get it to embed.