Everyone says the bookstore is dead. It should go the way of Kodak.
At most they will struggle to stay relevant and bleed to death slowly.
But If you have a smart management team, you can redefine a blue ocean.
I wouldn’t say I am a book lover but I really like my time going to Kinokuniya to read and browse books.
The American Conservative ran a list of how a major book chain like Barnes and Noble can reinvent themselves:
- Just be a bookstore
- Cultivate your ‘Secret Sauce”: The serendipitous experience of discovery
- Hire happy, friendly nerds
- Create more ‘destination activities’
- Transform bookstore into subscription showrooms
- Become a mini mall
- Downside your image
- Give customer better discounts
- Become more hipster, like Starbucks
- Smell like chocolate. Or Lavender
Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
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Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend.
You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.
His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.
You can read more about Kyith here.