Book lovers' haven opens new store
April 30, 2011, Saturday
|
Print Edition
Print Edition
JIFENG Bookstore, the city's biggest privately owned bookseller, has opened a new branch at the Minhang campus of the East China Normal University after shutting down three downtown stores because of high rent, low margins and the emergence of online book-sellers.
The new 600-square-meter store sells mainly social science and other humanities books. It retains the atmosphere that has long distinguished Jifeng - an intellectual ambience where book lovers can browse through the shelves or sit and read over a cup of coffee.
Jifeng still has five downtown stores, located in the middle of urban bustle, so the decision to open a shop in a more remote, sedate environment came as a surprise to many people. The new store is almost an hour's drive from Jifeng's flagship shop on Shaanxi Road S.
Jifeng decided to open the new branch because of support from the university, a nominal rent and the proximity to students and faculty interested in books on the humanities, said Yan Bofei, general manager of the bookseller.
Yan declined to reveal how much the company invested in the new store. He said universities and suburban areas offer the only growth potential left for his business.
"It doesn't mean Jifeng is planning to give up the downtown market," he said.
The new branch, which boasts a stock of about 40,000 kinds of books, is planning a series of events to publicize its opening, including inviting authors show up in person and interact with readers.
Despite the fanfare, bricks-and-mortar booksellers are finding little to celebrate nowadays as rents rise and the popularity of lower-cost online sites erodes their customer base.
"It will be difficult for Jifeng to survive," Yan admitted. "But I want to keep the stores going as long as I can."
The branch at the Shaanxi Road S. Metro station that launched by Jifeng has been in the red since 2008, when its rental agreement of 2 yuan (29 US cents) per square meter a day expired. The rent immediately doubled.
Jifeng also has to contend with online booksellers offering discounts of up to 80 percent.
This all comes at a time when household disposable income (that means discretionary income after fixed costs) is shrinking in an inflationary climate, Yan said.
Jifeng has shuttered three of its stores within a year. One was located in Xujiahui, and two were in the Jing'an District.
High rent was blamed for the closure. "We can no longer bear the rents, which surged to 20 yuan per square meter a day last year," Yan said, citing one store in Jing'an as an example.
Jifeng has a profit margin (margin is the difference between Jifeng's purchasing and operating costs per book compared with the price it sells the book for) of about 4.4 percent, Yan said.
He said he is hoping the government might rescue private booksellers by extending them preferential treatment, but he didn't sound optimistic.
Jifeng has become a cultural landmark in Shanghai, similar to Eslite Bookstore, one of the largest bookselling chains in Taiwan.
Xu Jilin, a history professor of the East China Normal University, said the city needs Jifeng.
"I think Shanghai faces a shortage of book stores that have their own distinct character," he said.
"Book stores should not be only commercial sites for buying books," he explained.
"They should be places where people who love and appreciate books can stroll around amid the aroma of coffee and soothing music.
"It's part of a lifestyle thing for me. Sadly, they are disappearing."
His view was echoed by Yao Xinbao, director of the journalism and communications at Shanghai Jiao Tong University.
"We expect the arrival of Eslite Bookstore in Shanghai soon, but we should do more to help Jifeng survive," he said. "It's sort of a cultural name card of the city."
The new 600-square-meter store sells mainly social science and other humanities books. It retains the atmosphere that has long distinguished Jifeng - an intellectual ambience where book lovers can browse through the shelves or sit and read over a cup of coffee.
Jifeng still has five downtown stores, located in the middle of urban bustle, so the decision to open a shop in a more remote, sedate environment came as a surprise to many people. The new store is almost an hour's drive from Jifeng's flagship shop on Shaanxi Road S.
Jifeng decided to open the new branch because of support from the university, a nominal rent and the proximity to students and faculty interested in books on the humanities, said Yan Bofei, general manager of the bookseller.
Yan declined to reveal how much the company invested in the new store. He said universities and suburban areas offer the only growth potential left for his business.
"It doesn't mean Jifeng is planning to give up the downtown market," he said.
The new branch, which boasts a stock of about 40,000 kinds of books, is planning a series of events to publicize its opening, including inviting authors show up in person and interact with readers.
Despite the fanfare, bricks-and-mortar booksellers are finding little to celebrate nowadays as rents rise and the popularity of lower-cost online sites erodes their customer base.
"It will be difficult for Jifeng to survive," Yan admitted. "But I want to keep the stores going as long as I can."
The branch at the Shaanxi Road S. Metro station that launched by Jifeng has been in the red since 2008, when its rental agreement of 2 yuan (29 US cents) per square meter a day expired. The rent immediately doubled.
Jifeng also has to contend with online booksellers offering discounts of up to 80 percent.
This all comes at a time when household disposable income (that means discretionary income after fixed costs) is shrinking in an inflationary climate, Yan said.
Jifeng has shuttered three of its stores within a year. One was located in Xujiahui, and two were in the Jing'an District.
High rent was blamed for the closure. "We can no longer bear the rents, which surged to 20 yuan per square meter a day last year," Yan said, citing one store in Jing'an as an example.
Jifeng has a profit margin (margin is the difference between Jifeng's purchasing and operating costs per book compared with the price it sells the book for) of about 4.4 percent, Yan said.
He said he is hoping the government might rescue private booksellers by extending them preferential treatment, but he didn't sound optimistic.
Jifeng has become a cultural landmark in Shanghai, similar to Eslite Bookstore, one of the largest bookselling chains in Taiwan.
Xu Jilin, a history professor of the East China Normal University, said the city needs Jifeng.
"I think Shanghai faces a shortage of book stores that have their own distinct character," he said.
"Book stores should not be only commercial sites for buying books," he explained.
"They should be places where people who love and appreciate books can stroll around amid the aroma of coffee and soothing music.
"It's part of a lifestyle thing for me. Sadly, they are disappearing."
His view was echoed by Yao Xinbao, director of the journalism and communications at Shanghai Jiao Tong University.
"We expect the arrival of Eslite Bookstore in Shanghai soon, but we should do more to help Jifeng survive," he said. "It's sort of a cultural name card of the city."
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
