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GeoMetrx Common Ground News: Volume 2: Issue 7 – Reinventing the Modern Book Store: A New Chapter Begins

See the newsletter with all graphics at COMMON GROUND VOLUME 2 : ISSUE 7 NEWSLETTER ARCHIVE LINK.  Text only version provided below, links only work in the full archived version via the link above.

Volume 2 : Issue 7

July 2013

Welcome to Common Ground News

In this Issue:

* Feature Article – Reinventing the Modern Book Store: A New Chapter Begins

* Tips & Techniques – helping you get the most out of our online mapping
application at [1]GeoMetrx “Built-In Business Rules”

* Thematic Map – Maps, Like Books, Tell Stories: Reading Books Across America

* Trivia Challenge​​ – Bestsellers of all time

This and all our newsletters are available through our Knowledge Center resource
listed on our website. We encourage you to share our Common Ground News with
your friends and colleagues and we welcome your feedback. Visit our website and
make a comment on the [2]contact us page or send us an email
at [3]info@geo-e.com.

—-Kent Hargesheimer,

Managing Partner

Geo-Legend

Phone: 1.888.848.4436

Web: [4]www.geo-e.com

[5]www.geometrx.com

[6]www.geoprinter.com

[7]www.gis4less.com

Email:

[8] [9]info@geo-e.com

Follow Us:

[10][11] [12][gif] [13]

Blog: [14]Common Ground Blog

Newsletter Archives
• [15]June 2013
• [16]May 2013
• [17]April 2013
• [18]March 2013
• [19]February 2013
• [20]Previous Issues

Reinventing the Modern Book Store:

A New Chapter Begins

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The digital age has brought about a vast amount of change in how we live our
everyday lives and it has had a major impact on the business world as well. One
of the most tangible changes has been in the media industry. The increasing
interest and reliance on electronic publications and less reliance on
traditional paper and ink has taken a toll. Many small, local newspapers have
shuttered their windows across the country, while larger, major metropolitan
newspapers have become hybrid publishers offering both electronic and hard-copy
products. Magazines and book publishers have become hybrids as well. Meanwhile,
the book store industry has had to begin an entirely new chapter.

Speculation that physical books will one day disappear, thanks to e-books, is a
frequent topic among avid readers, many fearing the worst. Fueling the fire,
industry giant Borders filed for bankruptcy in February 2011, and reported it
would be turning to sales of e-readers and e-books to save the company. E-books
have advantages over real books such as the ability to carry thousands of titles
in the palm of one’s hand, but they have disadvantages as well and will never be
seen as an ideal replacement for those who prefer ‘real’ books.

Book fans tend to echo one another when defining, nay defending, their passion
for ‘real’ books…

“…the touch, the feel, the smell, the
texture; the joy of browsing the shelves,
viewing covers and brightly colored spines;
the wonder of opening to a random page;
and most importantly the ability to ‘curl

up’ with a really good book…”

E-books are here to stay, there is little doubt of that, but printed books are
here to stay as well. E-books, while the fastest growing segment of the
publishing industry, account for just 20% of all sales reported by publishers.
Growth of the segment was 43% in 2012; very respectable indeed, but down from
the triple digit growth seen in the years 2008 through 2011, when they burst
into the mainstream. Michael Pietsch, CEO of the Hachette Book Group, cites a
survey from 2012 that found half of all readers had no interest in buying
e-books and, further, the vast majority of people who buy e-books continue to
buy print books as well.

According to [21]IBIS Research, book stores are collectively an $18 billion
industry which includes companies selling, “a broad range of book and newspaper
merchandise including trade books, textbooks, magazines, paperbacks and
religious books,” and excludes “retailers that operate primarily as used
merchandise stores or electronic shopping and mail-order houses.”

In recent years, the traditional book store industry has suffered as a result of
the weak economic climate during the recession, increased competition from
e-commerce and mass merchandisers, as well as changing consumer behavior.
Industry consolidation and an overall printed book sales decline is expected to
continue.

What does all this mean for retail book stores? Will they simply cease to
exist and become a quaint throwback, nostalgically remembered as part of the
‘old days?’ Hardly! The industry is certainly undergoing change, but the experts
don’t anticipate that happening any time soon. Rather, book stores across
America, from small towns to large cities, are writing a new chapter, and
reinventing themselves along the way.

Successful book store owners are finding new ways to become an integral part of
their communities, providing more than just shelves to browse. They are
becoming a community resource, offering space and services for many activities,
including:
* poetry readings
* game nights
* book club meetings
* events (weddings, parties, etc.)
* young reader activities
* local author book signings
* local artist and musician exhibitions
* writer’s work shops
* book publishing services
* printing services*

*”The patented [22]Espresso Book Machine® (EBM) makes a paperback book in
minutes, at point of need. Through its EspressNet® digital catalog of content,
over seven million in-copyright and public-domain titles are available on the
network. The technology is also ideal for self and custom publishing.”

Book stores are expanding their product offerings as well. In addition to the
growing trend of on-site coffees shops and cafes, book stores are now providing
a wide array of book related merchandise, self-branded items, and even vintage
used books right alongside new books of the same genre. ​In some communities,
book stores are partnering with and opening shops inside local libraries!

Book stores provide an experience that digital technology cannot replace. They
connect readers to the topics, people and places they love and enjoy the most.
People, by and large, believe in book stores, but they need a compelling reason
not to order from a faceless online entity just to save a few dollars. As the
Huffington Post so eloquently stated in its [23]HuffPost Books blog, “Bookstores
will only survive if they make the most of the very attributes that make them
not Amazon.”

For any current or prospective business owners interested in the book store
industry, [24]GeoMetrx can provide an in-depth site location analysis including
demographic, income and traffic data as well as a view of the competitive
landscape. Call us at 1.888.848.4436 or visit us on the web to [25]request a
demo today.

Tips & Techniques – ​Built-In Business Rules

Built-in Business Rules within [26]GeoMetrx are a default set of mapping and
reporting criteria designed for a specific industry. When you are creating
Strategy Maps or Power Reports, you can select a default set of trade area
definitions to apply to your sites. For example, if your sites are Auto
Dealerships, you can apply trade area rules for Auto Dealers that create three
radial trade areas around each site, one 7 mile, one 15 mile, and one 20 mile
radial trade area.

More than a dozen industries are included in the Built-In Business Rules. You
can also create and save your custom settings as a Personal Business Rule. Click
on the link below to access the complete guide.

[27]”Built-In Business Rules”

[28][Built-In-Business-Rules.png]

Maps, Like Books, Tell Stories

Reading Books Across America

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“After nourishment, shelter and companionship, stories are the thing we need
most in the world.” – Phillip Pullman; British Author

Do you remember as a young child, that moment of clarity and tremendous
excitement when the strange lines and shapes on the page of a book suddenly
shivered into meaning and a whole new world was before you? Once you have
unlocked the mystery of words and become a reader, the magic is irrevocable. The
reader can go anywhere, be anyone, do anything with only the slightest effort
required for turning the pages.

Books are powerful, whether filled with fiction or packed with reality. Despite
the growing popularity of e-readers and e-books, the majority of books sold are
still the real McCoy; a tangible product made of paper and ink. Americans are
avid readers. The heat map below reveals just how much of the population spends
some leisure time reading. Books can be borrowed from a library, swapped among
friends, picked up at second-hand shops, or be carefully selected brand new off
the shelf.

According to the Small Business Development Center Network ([29]SBDCNet) the
national average for household spending at bookstores was $55.23 in 2012.
Certain segments of the population spend above the national average, as shown in
this table:

While e-books are popular, they only account for 20% of the book publishing
industry. The vast majority of readers who purchase e-books also purchase
printed books. While there are certainly challenges facing book store owners,
there is room for new entrants. The modern book store owner who provides an
entity that is more than just shelves lined with books, and engages the
community can be highly successful. The opportunities are as limitless as those
found between the covers of a really great book!

If you are interested in starting your own new chapter by opening a book store,
or expanding your current business enterprise, [30]GeoMetrx has the tools you
need to assess the opportunities, locate the ideal site location, and evaluate
the competition.

Click here to see a [31]larger version of this map.

For more information on how to obtain access to [32]GeoMetrx tools and datasets,
contact us today at 1.888.848.4436.

July 2013 – Trivia Challenge

1) The Bible is the biggest bestseller in history, but do you know which book is
the second highest bestseller?

2) How many copies of the book have been sold worldwide?

[33]Click Here for the Answers

References

1. http://geometrx.com/
2. http://geometrx.com/contact-us/
3. mailto:info@geo-e.com?subject=October%202012%20Newsletter%20Feedback
4. http://www.geo-e.com/
5. http://geometrx.com/
6. http://www.geoprinter.com/
7. http://www.gis4less.com/
8. mailto:info@geo-e.com
9. mailto:info@geo-e.com
10. http://www.facebook.com/GeoMetrx
11. https://twitter.com/#!/geometrx_
12. http://www.linkedin.com/company/691866
13. http://geometrx.com/feed/
14. http://geometrx.com/blog/
15. http://geometrx.com/2013/06/geometrx-common-ground-news-volume-2-issue-6/
16. http://geometrx.com/2013/05/geometrx-common-ground-news-volume-2-issue-5/
17. http://geometrx.com/2013/04/geometrx-common-ground-news-volume-2-issue-4/
18. http://geometrx.com/2013/03/geometrx-common-ground-news-volume-2-issue-3/
19. http://geometrx.com/2013/02/geometrx-common-ground-news-volume-2-issue-2/
20. http://geometrx.com/category/newsletters/
21. http://www.ibisworld.com/industry/default.aspx?indid=1084
22. http://ondemandbooks.com/
23. http://www.huffingtonpost.com/books/
24. http://geometrx.com/
25. http://geometrx.com/geometrx-demonstration-request-form/
26. http://geometrx.com/
27. http://geometrx.com/wp-content/uploads/2013/07/Built-In-Business-Rules.pdf
28. http://geometrx.com/wp-content/uploads/2013/07/Built-In-Business-Rules.pdf
29. http://www.sbdcnet.org/small-business-research-reports/bookstore-2012
30. http://geometrx.com/
31. http://geometrx.com/common-ground-news-trivia-maps/
32. http://geometrx.com/
33. http://geometrx.com/newsletter-trivia-answers/