By Joe Moore
It was announced on Monday that Borders abandoned its attempt to find a buyer and proceeded to declare bankruptcy. They’ll be closing 399 stores and letting 10,700 employees go. The national bookstore chain was the victim to overwhelming debt, losses and changing consumer tastes.
That last one, changing consumer tastes, to me is the real giant killer.
Changing consumer tastes translates to print sales tanking while ebook sales skyrocketing. Why? Features and benefits. Ebooks and the devices on which they can be read (including smartphones and tablets) contain more features and benefits than printed books. We’ve discuss that dead horse topic so much on this blog that the smell just won’t go away. But it’s true. Things aren’t just changing, they’ve already changed. The way we buy and read books will never revert to the olden days of just a year or two ago.
I liked Borders. I had a big, beautiful store a couple of miles from my house. I had to drive past a big, beautiful Barnes & Noble to get to Borders. My co-writer and I launched 4 novels from that store. The staff loved us and we loved them. They made us feel great. We sold a lot of books for them. As a matter of fact, we always sold out of their stock and had to give them cartons of books to finish the signing events. Saturday afternoon book launches at our local Borders were always fun.
So what happened to our big, beautiful Borders? They recently tore it down and put up a CVS Drugs. You can buy paperbacks inside if you want. They paved paradise and put up a parking lot.