Bookstores in a bind amid online competition
Print Edition
It’s been a bad time for books stores in Minhang. The venerable Xinhua bookstore on Xinjian Road had to relocate because of skyrocketing rent, and now the 12-year Yong Wen Book Store has succumbed to rising costs and declining sales.
“Sales in the Yong Wen have been dropping since 2008, with present volume down about one-third from its peak,” said Liu Zhaoteng, the shop owner. “Rising lease costs have gobbled up almost all of gross profit.”
Liu has moved all the remaining stock to his home at Xinzhuang, encouraging loyal old customers to come and see him there. He said he isn’t sure if he will relocate his shop somewhere else, given competition from online booksellers who can undercut the prices of brick-and-mortar stores.
Surviving bookstores are desperately seeking new ways to attract customers. Shang Shu Fang on Longming Road has converted part of his premises to a coffee area and invited lecturers and book clubs to use its facilities.
Many customers come to bookshop every day, but few buy books. Some just order drinks and read while they sit there.
The shop operates on very narrow margins, according to the owner Zhou Yong. The monthly rent of 8000 yuan (US$1,311) is equal to about 30 percent of revenue. Salaries, electricity and book-purchasing take the rest.
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