Starbucks, for example, trains baristas to make mocha lattes taste the same way at every location. But Daunt thinks books are a fundamentally different kind of product. Waterstones faced criticism for opening some unbranded stores that could easily be mistaken for indie shop.
Daunt says the stores are categorically different from typical Waterstones outposts. Critics have also come after Waterstones for failing to mimic Daunt Books in one important respect: pay. The UK consensus is that Daunt brought Waterstones back from the brink. Nonetheless, Daunt sees clear parallels between the two chains.
As with Waterstones, he thinks this turnaround should start with giving booksellers autonomy over what they sell and display. Of course, this approach requires a staff to support it, and breathing room to build connections with local schools, clubs, and businesses.
A year later, Daunt had changed his tune; he announced that Waterstones would selling Kindles in its stores. These days, Daunt is philosophical on the subject of Amazon. Bookstores are communal and spiritual spaces.
The past decade seems to have proven Ryan right. The success of chains rests on their ability to credibly convey this kind of symbolism. By providing your email, you agree to the Quartz Privacy Policy. Skip to navigation Skip to content. Personally, I think this is a really smart strategy, yet the question remains: will this turnaround effort be enough to save the bookselling giant in a post-pandemic world? I would suggest that is something shoppers will remember, talk about and that will bring them back.
Yes, a lot of stores have experienced tough times recently, yet indies have been working hard to set themselves apart. The assumption, particularly with the quarantine and lockdowns, was that small independent stores were doomed. And while some stores are indeed no longer in business, others have emerged with strength.
Why is it that these indie bookstores are defying expectations? Perhaps Mr. Daunt has asked himself these same questions. A former client of mine in the automotive industry pursued a similar strategy, where a high degree of local autonomy led to increased client engagement, market share and operating margin.
This created an operational management nightmare—a challenge when trying to delight clients—and allowed competitors to find easy ways to chip away at their market share. Fast forward to the introduction of one national set of processes and the permission for local leaders to do what they thought necessary to appeal to their market, and the results were transformed.
Similarly, I worked with a large bank who was determined to increase their customer satisfaction and loyalty results. We do not have plans to offer franchise opportunities in the future. What discounts do your stores offer? Why are your online prices usually lower? The online marketplace for books is very competitive. As such, we extend greater discounts to our customers in order to remain competitive.
Research has shown that customers that shop at both stores and online are more loyal and are greater spenders. By keeping the sale "in the family," we strengthen our long-term business. Plus, Members receive special offers and discounts throughout the year. To join, just visit our stores or website at BN. Toggle Mobile. Management Team.
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