All sales are final. As of tomorrow, Borders Bookstore is officially a bust. The once-popular chain will begin closing its remaining 400 stores nationwide, not only emptying shelves, but eliminating 11,000 jobs as well.
This comes after months of bankruptcy and failed attempts to sell and resurrect itself. So where did Borders go wrong?
1. The obvious reason; we are entering the digital world of paperless-ness. In fact, we are already in it. As online [book] shopping, e-readers, and tablets become more popular, the desire to buy a physical book is null and void.
2. As this WSJ article explains, other products in the store were beginning to hide the books altogether. As we all know, bookstores aren’t really just bookstores anymore. They’re fully equipped entertainment outlets, selling CDs, DVDs, and magazines. But once you start shielding the core of the store behind other products, the focus becomes unclear, as Matthew Dolan explains in his article:
Customers began to notice what made Borders distinctive was also disappearing. In Store No. 1, there are still books galore. But to reach them, customers must navigate through aisles of toys, stuffed animals, greeting cards, gift bags, compact discs and DVDs.
3. Barnes and Noble is better. I’ve always been a B&N girl myself. It may be the Starbucks cafe in each store. It might be the layout and look of the store. There’s also a good chance it’s the growth the company has seen after taking on the Nook, which is far more popular than Borders’ Kobo. Either way, it’s the number one bookstore nationwide, and Borders just couldn’t top it.
Whatever the reason, it’s sad to see such a staple leave the industry and say goodbye to thousands of employees, as well. What I’m wondering is, is there something Borders could have done to improve and save itself? What do you think?
***Here is another WSJ article that explains more about the financial struggle of Borders.