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Friday, February 17, 2006

B&N on online sales

Barnes and Noble CFO, Joseph Lombardi, recently spoke regarding online sales for the company. During the speech he reported that sales were just below the industry's projected growth of 10% per year. The fact that B&N is falling short of PROJECTED growth numbers is unbelievable. First of all, the statement is misleading because while 10% was projected, the industry undoubtedly grew at a faster pace. Second, for a company like B&N not to be above the rate for the entire industry is a business failure given its name recognition and respect among consumers.

I've posted twice before encouraging B&N to change their strategy toward used books as a method for increasing overall online sales (Big Surprise: BN Holiday Sales Stagnate and An Alibris Without Amazon). Studies repeatedly show how Amazon's used book strategy has not cannibalized, but actually boosted new book sales. It is time for B&N to consider increasing the visibility of its new book offerings (including the price!).
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