Is Harry Potter good for Booksellers? – By Melinda Carroll
As fans line up outside bookstores all over the world on the eve of what is to be the biggest book release in history and bookstore employees prepare for their Harry Potter and the Deathly Hallows release festivities, I wonder just how good Harry Potter is for booksellers.
The Harry Potter series is a literary phenomenon. No other books have had people lining up outside bookstores and flocking to buy their copy! Let’s face it, most authors today are lucky to have sales of 10 at their book signing, so to have millions and millions of people pre-ordering and lining up to buy the Harry Potter book on the day its released is truly an amazing feat. It’s a real testimony to the beloved magical world and characters J.K. Rowling created.
And if all goes as predicted, Harry Potter and the Deathly Hallows will be the biggest selling book ever! In fact the LA Times reports:
“The numbers are staggering: More than 12 million copies of the final Harry Potter book have been printed and are ready for shipment. Booksellers expect 7 million copies to be sold in the first 24 hours. Even more copies are being rushed into print, even though the hotly awaited title will not be released until midnight Friday.”
(Read the full LA Times article)
But does Harry Potter bode well for booksellers?
According to Booksquare:
“Booksellers are not dancing in the street. Make no mistake: booksellers fully anticipate roaring crowds and record sales. It doesn’t matter if you’re a so-called big box retailer or an independent bookseller. Customers will come through the front door (virtual or physical) in droves. They will buy.
The problem is that market pressures have required steep, steep discounts for the new title. There’s a word for it…hold on…yes, competition. The free market system. All that stuff you learned in econ that you were sure would not be useful in the future is now coming into play. Probably even supply and demand. Who knew that supply and demand would be important?
Oh right, anyone who has tried to purchase gasoline over the past six months. As with unleaded gas, the price crunches are borne by the retailers”.
(Read the full blog)
The price war forced upon booksellers for the Harry Potter books make it relatively impossible for Independent bookstores to compete with the big retail chains like Barnes and Noble and Borders. If they discount the books 40% to 50% like the bigger chains they will be selling the books for little more than they paid the publisher. Harry Potter is a spell for vanishing profits for the Independent’s. As the LA Times article states:
“These independent stores, in fact, may be the biggest losers of all, because they operate on smaller economic margins and cannot afford to offer such deep discounts. In Southern California and across the nation, many are offering the book at or close to its full $34.99 price, hoping that the elaborate Harry Potter parties they throw on the night the book is released will attract large crowds of loyal customers.”
Along with Independent and big retail chain booksellers across the nation, Bakersfield’s own local bookstore, Russo’s Books , is also planning an elaborate Harry Potter party tonight hoping to capture as much of the Harry Potter crazed populace as possible. Most likely it will be their biggest selling night ever. In an article on turnto23.com Mike Russo stated:
“We’re very efficient, we can sell hundreds of books in just 20 minutes.”
(Read the full article)
But at what price? Will Russo’s be offering a big discount on the book in order to compete with Barnes and Noble and Borders? Or will they depend on their loyal customers to pay near to full price for the book? I guess we will all have to go to Russo’s Harry Potter party tonight to find out.
Festivities at Russo’s: at the Marketplace and at East Hills take place from 10 p.m. to midnight. Events include a costume contest, live magicians and actors (Marketplace only), lots of games including Pin the Pigtail on Dudley, a “Bet on Snape” contest, Sandy Candy Potions Class, and even a sorting hat.
The big question is why is the publishing world forcing a price war where profits for booksellers are near to none? Are they afraid that people won't come out in droves to buy the book if it isn't discounted?
Perhaps the publishing industry should learn from Hollywood. When audiences of record-breaking size line up to see the latest Harry Potter movie, Star Wars, or Pirates of the Caribbean (all movies with a cult following who wait in line and dress up in costume to attend premiers) the theater’s don’t discount the ticket prices in order to attract more movie viewers.
People will buy Harry Potter and the Deathly Hallows even if they have to pay full price. They have to know what happens to Harry Potter in the end.
Booksquare states the plight of the Independent bookstores best:
“It makes no sense at all that one side of the business makes enormous profits while the other struggles to stay afloat. Just as we hear stories about gas stations that are going under because pricing pressures from consumers require that profitability be sacrificed — while oil companies post record high numbers — we will see the same thing happening to booksellers.”
Are you buying a copy of Harry Potter and the Deathly Hallows tonight? Attending a Harry Potter release party at a bookstore tonight? If you are, support your local Independent bookstores. They still need your help on the biggest night in publishing history.
And soon enough, we’ll all know if Harry Potter dies or not.
The Harry Potter series is a literary phenomenon. No other books have had people lining up outside bookstores and flocking to buy their copy! Let’s face it, most authors today are lucky to have sales of 10 at their book signing, so to have millions and millions of people pre-ordering and lining up to buy the Harry Potter book on the day its released is truly an amazing feat. It’s a real testimony to the beloved magical world and characters J.K. Rowling created.
And if all goes as predicted, Harry Potter and the Deathly Hallows will be the biggest selling book ever! In fact the LA Times reports:
“The numbers are staggering: More than 12 million copies of the final Harry Potter book have been printed and are ready for shipment. Booksellers expect 7 million copies to be sold in the first 24 hours. Even more copies are being rushed into print, even though the hotly awaited title will not be released until midnight Friday.”
(Read the full LA Times article)
But does Harry Potter bode well for booksellers?
According to Booksquare:
“Booksellers are not dancing in the street. Make no mistake: booksellers fully anticipate roaring crowds and record sales. It doesn’t matter if you’re a so-called big box retailer or an independent bookseller. Customers will come through the front door (virtual or physical) in droves. They will buy.
The problem is that market pressures have required steep, steep discounts for the new title. There’s a word for it…hold on…yes, competition. The free market system. All that stuff you learned in econ that you were sure would not be useful in the future is now coming into play. Probably even supply and demand. Who knew that supply and demand would be important?
Oh right, anyone who has tried to purchase gasoline over the past six months. As with unleaded gas, the price crunches are borne by the retailers”.
(Read the full blog)
The price war forced upon booksellers for the Harry Potter books make it relatively impossible for Independent bookstores to compete with the big retail chains like Barnes and Noble and Borders. If they discount the books 40% to 50% like the bigger chains they will be selling the books for little more than they paid the publisher. Harry Potter is a spell for vanishing profits for the Independent’s. As the LA Times article states:
“These independent stores, in fact, may be the biggest losers of all, because they operate on smaller economic margins and cannot afford to offer such deep discounts. In Southern California and across the nation, many are offering the book at or close to its full $34.99 price, hoping that the elaborate Harry Potter parties they throw on the night the book is released will attract large crowds of loyal customers.”
Along with Independent and big retail chain booksellers across the nation, Bakersfield’s own local bookstore, Russo’s Books , is also planning an elaborate Harry Potter party tonight hoping to capture as much of the Harry Potter crazed populace as possible. Most likely it will be their biggest selling night ever. In an article on turnto23.com Mike Russo stated:
“We’re very efficient, we can sell hundreds of books in just 20 minutes.”
(Read the full article)
But at what price? Will Russo’s be offering a big discount on the book in order to compete with Barnes and Noble and Borders? Or will they depend on their loyal customers to pay near to full price for the book? I guess we will all have to go to Russo’s Harry Potter party tonight to find out.
Festivities at Russo’s: at the Marketplace and at East Hills take place from 10 p.m. to midnight. Events include a costume contest, live magicians and actors (Marketplace only), lots of games including Pin the Pigtail on Dudley, a “Bet on Snape” contest, Sandy Candy Potions Class, and even a sorting hat.
The big question is why is the publishing world forcing a price war where profits for booksellers are near to none? Are they afraid that people won't come out in droves to buy the book if it isn't discounted?
Perhaps the publishing industry should learn from Hollywood. When audiences of record-breaking size line up to see the latest Harry Potter movie, Star Wars, or Pirates of the Caribbean (all movies with a cult following who wait in line and dress up in costume to attend premiers) the theater’s don’t discount the ticket prices in order to attract more movie viewers.
People will buy Harry Potter and the Deathly Hallows even if they have to pay full price. They have to know what happens to Harry Potter in the end.
Booksquare states the plight of the Independent bookstores best:
“It makes no sense at all that one side of the business makes enormous profits while the other struggles to stay afloat. Just as we hear stories about gas stations that are going under because pricing pressures from consumers require that profitability be sacrificed — while oil companies post record high numbers — we will see the same thing happening to booksellers.”
Are you buying a copy of Harry Potter and the Deathly Hallows tonight? Attending a Harry Potter release party at a bookstore tonight? If you are, support your local Independent bookstores. They still need your help on the biggest night in publishing history.
And soon enough, we’ll all know if Harry Potter dies or not.
Labels: alternative Bakersfield, booksellers, Booksquare, Harry Potter, Harry Potter and the Deathly Harrows, Independent Bookstores, J.K. Rowling, LA Times, Russo's Books, turnto23.com
This entry was posted by Matildakay, on
Friday, July 20, 2007.
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What's Harry Potter?
And that's exactly why I only promoted Russo's and the Fox Theater in my ABC 23 article. I didn't feel the need to support giant retailers on a night when the only Independent Book Store in all of giant Kern County needs the help. Support local!
Here's a bunch of comments from MySpace:
good point. learn from the movie producers. don't discount. but i don't trust the influence of harry potter on the literary scene still.
- Zayn
I'm sick and tired of Harry Potter! But the author is an amazing woman I met her here in Toronto. I'm sure the booksellers are happy to sell any Harry Potter books great royalties.
- Brianna
f-no!
loss leader.
we indies can't, nor want to compete with this crap. at least the kids are reading, though.
- Amy
I am going to say yes just because overall the industry had slowly begun to change and lose readers . However, now it is hitting a revival so to speak and hopefully the success of HP will open up new avenues for unknown but skilled authors.
- Randy
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