Guest Column: Book Pricing: Rein in the Aggression
We infer from the relatively high "better selection" response rate that book buyers want greater depth or a better curated selection on the specialty shelves or in the specialized departments of the traditional bookstores. Obviously, a bricks-and-mortar bookstore can never match an online bookstore one-to-one in the area of "selection." But there is a big, if subtle, difference between "better selection" and having nearly every book ever published.
So what is a book worth?
Obviously we can't apply our conclusions to a genre or individual title. But our overarching message for the book business is that book buyers still seek out convenience, service and fun. You don't need to bribe them with aggressively low prices. BB
Andre Weber is a partner at Simon-Kucher & Partners and is based in the firm's New York office. He has over a decade of experience in pricing for media and entertainment. Kyle Poyar is a consultant in the firm's Boston office and supports the firm's media and entertainment practice. The full results of Simon-Kucher & Partners 2012 study of consumer shopping behavior will be available shortly as an e-book.