Goodbye Borders -
I always liked you. But like I said:
Pitch by: abitare
7/24/08 2:26 PM
Reply | Report this post
“It doesn’t matter how good or bad the product is; the fact is that people don’t read anymore,” he said. “Forty percent of the people in the U.S. read one book or less last year.”
Borders like many retailers is an eventual Bankruptcy Icon. Built during the boom of a "borrow and spend" US economy, it will collapse under a the credit contraction as consumers retrench.
Lets review why Borders is done:
1. Ebooks will do to you, what ITunes did to Tower Records.
2. People sitting around drinking coffee in a +++20000SQ FT retail space is not going to pay the rent
3. Public library is still free and just as close to home
4. 60-80% of all books purchased are not read
5. Saturation of retail book space
6. Recession will hurt ALL retailers
7. Consumer cutting back from discretionary spending
8. Internet and cable is improving, consumers prefer FREE entertainment vs books
9. Amazon, Amazon, Amazon, Amazon
10. Bricks and mortar vs internet and ebooks down load
11. "operates...music and movie superstores"? With Netflicks, and the iTunes how tight are your margins?
Be honest, you have not read 80% of the books you bought in the last couple of years? Seriously, you haven't right? Don't lie!