BARNES & NOBLE ??

"More than just books..."

Question of the Day: If Barnes & Noble was a publicly traded company in 2021, would it have been taken on the same stock market rollercoaster ride like GameStop and AMC?

Similar to GameStop and AMC, Barnes & Noble is often viewed through the rose-colored glasses of nostalgia. When those ambitious investors wanted to squeeze the hedge funds last year, they didn't blindly select two random companies off of a short-sold list. They made sure to pick brands that had sentimental value. When they were younger, they made wonderful memories walking into GameStop to meet with friends and pick up a copy of the new Assassin's Creed game. They also looked back fondly on the balmy summer nights they spent at AMC, sipping on a blue Icee, devouring popcorn, and watching Tobey Maguire swing around New York City as Spiderman.

Barnes & Noble is one in the same. In one of my favorite articles, Alexandra Lange discusses the cultural impact of book stores like Barnes & Noble in the early 2000's.

"When the final Harry Potter installment was published on July 21, 2007, bookstores across the U.S. celebrated with midnight release parties — some with booze, befitting a series whose earliest readers were now in their 20s. These parties took place at thousands of bookstores at a time that was, in retrospect, Peak Bookstore."

"Peak" is the right word. Since that time, Amazon has become a bull in the china shop. Conveniently shipping paperbacks to front doors, loading up their Kindle product with thousands of titles, and producing high-level audiobooks through Audible. It decimated traditional bookstores and effectively pushed the once-popular Borders, into bankruptcy.

Yet, Barnes & Noble is still standing, and standing tall at that. In the last two years, paperback book sales in the United States have experienced a resurgence. In 2021, sales were up 12% industry-wide. Book publishing consultant, Jane Friedman, is reported as saying, "Everyone is wondering whether this is a permanent shift or how long it will stick, but right now almost every category is up." Barnes & Noble in particular has been able to capitalize on this demand. "It [B&N] was?going through a prolonged period of decline in both revenues and profits... Two years in, the team has halted the decline and now has a base from which to grow revenues and profit."

So, the question becomes, how does Barnes & Noble plan to capitalize on the trend and build off this base?

Their first ideas have been really interesting:

• Improve the Atmosphere: Swap long rectangular tables for smaller round ones that encourage browsing. Ditch the dark green carpet and create a brighter store
• Consider the community: For example, if the store is located in a bilingual area, display the Spanish-language books closer to the front doors
• Launch a podcast: Poured Over by B&N is their flagship show that interviews authors
• Lean into "BookTok": Display books that are trending on TikTok

When I was making the decision to publish my book through Amazon or Barnes & Noble, I went with the latter for a simple reason. I wanted to be associated with a book store, not the everything store. Moreover, there was the influence of nostalgia in my decision. I grew up reading Percy Jackson and The Hunger Games series in Barnes & Noble; I have loved it just the same as the investors have loved GameStop and AMC.

As a Barnes & Noble fan and an enthusiast of ideas, I have been putting together a list of initiatives that I think they should try out:

• Barnes & Noble Book Fair: I grew up on the Scholastic book fair. Why not have a B&N version? After all, the young adult category is booming thanks to TikTok
• Stand for Something: Improving literacy is an important cause in America. Be a vocal leader in helping to improve literacy rates for the demographics that are most disadvantaged
• More Podcasts: Poured Over focuses on the author. Introduce shows that are more about the book. How about Classics & Cocktails? A show with two people that sip on classic cocktails as they discuss classic literature. Episode 1: The Great Gatsby with a Gimlet

What do you think? Is there anything else I should add to my list?

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The views expressed here are my own and do not necessarily reflect the views of my employer

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