Physical bookstores actively transform and break through

2022-08-02

Japanese bookstores may be able to learn from the booming economy of Chinese bookstores, which is popular on the Internet. Sakamaga magazine in Japan recently published an article on this topic, saying that under the tide of Internet information, many bookstores in Japan are facing survival problems. In 2020 alone, the total number of physical bookstores will be reduced by more than half. On the contrary, the number of newly opened bookstores in China, which is adjacent to Japan, is increasing significantly. The article points out that some Chinese bookstores have successfully realized the transformation and upgrading from a single business model to a cross-border business model by means of social platform drainage, expanding sales channels, and controlling costs. The flexible thinking and exploration of Chinese people are worth learning from. Compared with other countries in the world, China's physical bookstore industry has significant advantages in market scale. According to the book retail market report in 2021, even under the double impact of the Internet and the epidemic, the scale of Chinese book retail market in 2021 will still reach 98.68 billion yuan, up 1.6% year on year; Among them, the scale of physical store channels increased by 4.09% year-on-year, reaching 21.2 billion yuan. The impact of repeated epidemics has also failed to stop the expansion of Chinese physical bookstores. According to the data of China physical bookstores Industry Report 2020-2021, in 2020, the number of new bookstores opened in China was about 2.6 times the number of closed bookstores, and the number of new bookstores was as high as 2488. The number of new bookstores opened in Beijing alone exceeded 600, almost eight times the number of new bookstores opened in the United States in the same year. Similar to the experiences of many physical bookstores in Europe and the United States, Chinese physical bookstores are also facing severe survival difficulties. Before the outbreak of COVID-19, online bookstores constantly squeezed the living space of physical bookstores with low discounts and convenient and fast shopping experience. Relevant data show that in China, the sales of online bookstores have exceeded that of physical bookstores since 2016. By 2021, the sales of online bookstores will be four times as high as that of physical bookstores. The outbreak of the epidemic has further catalysed the long-standing financial contradictions in the operation of physical bookstores. All major bookstores are facing great losses, and the book publishing industry is forced to undergo a difficult transformation. According to the 2020-2021 China physical bookstore industry report, in 2020, there were 208 physical bookstores in China with a year-on-year decrease in sales revenue, accounting for 70%. In recent years, in order to break out of adversity, many Chinese physical bookstores have actively explored new business methods. First of all, physical bookstores attach great importance to the creation of "head books". They not only regularly launch famous best-selling books or well-known works in specific vertical categories, but also try to introduce original best-selling books in foreign languages or operate relevant works of authoritative scholars in minority fields. Secondly, the business mode of "super bookstore + comprehensive business" gradually replaces the traditional book sales mode and is favored by more Bookstore operators. Many physical bookstores have already gone beyond the traditional business scope of book sales. They are also a cultural and creative collection store, a coffee shop, a small exhibition, or even a shared office. Many bookstores also maintain and expand their membership groups and create a "fan economy" of bookstores by implementing the membership system, community operation, inviting famous writers to hold book signing, and holding interviews or salons. The Chinese government has issued various support policies for physical bookstores

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:People's Daily

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