Last year I wanted to buy Thinking in Bets (great book, btw). I was feeling impatient, so I looked it up on Barnes and Noble's website, and saw that a store where I was had it in stock. I went in to purchase it, and the price in store was a couple bucks higher than the listed price online. I asked the clerk about it, and he kind of shrugged and said he couldn't do anything about it. I walked out without the book and…
Barnes & Noble Set To Be Sold To Elliott Management For About $683M
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Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M
#72And while they sometimes have some fantastic initiatives, they really struggle with execution, such as the launch of their self-serve ad platform in February (http://leanmedia.org/bn-botches-ad-platform-rollout-can-it-r...). The print-on-demand launch (http://www.barnesandnobleinc.com/press-release/6_28_16_nook_...) was also a miss, which I think relates to its siloed and bureaucratic nature.
Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M
#73Earlier quoted context omitted.
Absolutely does. The experience of going to a bookstore, browsing through the shelves, perhaps reading a few pages while sitting on a comfortable couches, perhaps talking to a knowledgeable salesperson about books (or life or anything), definitely has value. And I believe that value is greater than the convenience of ordering books online and then having to wait a 1-14 days for the book to deliver.
> perhaps talking to a knowledgeable salesperson about books You aren’t likely to talk to a knowledgeable salesperson at a chain bookseller, as generally they are not big book fans. They just needed a job, and these chains will hire just about anyone who can competently work their POS systems. I can understand certain independent bookshops having great additional value to customers because their proprietors and the o…
As somebody who spends a ridiculous amount of time at my local Barnes & Noble store (I work from their cafe a lot, but also come here to buy books a lot), and who has gotten to know most of the staff here pretty well, I would say that this does not jibe with my (n=1) experience. It doesn't prove anything, but the people who work here (the New Hope Commons store, in Durham, NC) are quite often bibliophiles, and/or are very knowledgeable about books and/or quite a few other things. One of the baristas is a masters student in Data Science and always points out to me if some new techie book has shown up on the shelves that he thinks I might be interested in. Several of the employees are also authors in their own right, and I just finished one of their books which was, if not exactly great, definitely at least worth reading. Another lady ran one of the first ISP's somewhere in the midwest back in the day, and knows all sorts of interesting stuff. Amazingly she didn't know about the show Halt & Catch Fire until I mentioned it to her the other day.
Anyway, I digress... the point is just that at this one store, at least, there is a staff of people who are quite knowledgeable/interesting and make it worth coming in, in order to interact with them.
Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M
#74Earlier quoted context omitted.
What's confusing? Shipping a book from a warehouse is cheaper and maintaining a website is cheaper than setting up and selling from a physical store. If I order a book online, I don't want to subsidize the walk in customers.
the value of the book doesn't change depending on its distribution channel
Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M
#75Last year I wanted to buy Thinking in Bets (great book, btw). I was feeling impatient, so I looked it up on Barnes and Noble's website, and saw that a store where I was had it in stock. I went in to purchase it, and the price in store was a couple bucks higher than the listed price online. I asked the clerk about it, and he kind of shrugged and said he couldn't do anything about it. I walked out without the book and…
I can’t fathom the decision-making that led to spending the time to go down to the store for some instant gratification and then leaving over a $2 difference.
Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M
#76Earlier quoted context omitted.
I can’t think of any other retailer that does this. Best Buy, Walmart, Famous Footwear, Bed Bath and Beyond, etc. all honor the same prices in person as they do online.
No, not all of them. Over the past few years, products at my local Best Buy are regularly 20-40% more than on their site. (Unless you order through the site for local pickup... then you can get the online price.) Walgreens is the same. Might be $12 online but $18 in my local store. Barnes and Noble is pretty par for the course in this.
Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M
#77Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M
#78Earlier quoted context omitted.
What's confusing? Shipping a book from a warehouse is cheaper and maintaining a website is cheaper than setting up and selling from a physical store. If I order a book online, I don't want to subsidize the walk in customers.
What makes it confusing is that you can check local store inventory online, order online at the online price and pickup in an hour from the store. However if you grab the book yourself from the physical store and save them a step, they absolutely won’t honor the online price. You have to order online and wait an hour while they take the book off the shelf for you. Or you get exasperated with the ridiculousness of the…
Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M
#79Earlier quoted context omitted.
Not sure if you are aware, but matching competitor prices is actually anti-consumer. It's counterintuitive but it means that your competitors won't lower the price on the first place. Kinda like implicit price fixing.
It's actually not - if a competitor thinks it can sell more widgets at a lower price and make it up in the increase volume, they will lower the price. If that's the price which maximizes revenue for them, they'll leave it. It's straight forward supply and demand.
Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M
#80Earlier quoted context omitted.
the value of the book doesn't change depending on its distribution channel
Of course the value of a book changes based on the distribution channel. Immediacy has value, so if you need something _now_ you will be willing to pay for that. Also, you have to pay in time and money to go to the store, so you _may_ be willing to pay more to have the book delivered. In both situations, the way the book gets to you changes the price you're willing to pay.