“Barnes & Noble, Inc. (NYSE: BKS) is the world’s largest bookseller and a leading retailer of content, digital media and educational products. The Company operates 632 Barnes & Noble bookstores in 50 states (as of July 29, 2017), and one of the Web’s premier e-commerce sites, BN.com. Our Nook Digital business offers a lineup of popular NOOK® tablets and eReaders and an expansive collection of digital reading content through the NOOK Store®”.
William Barnes and G. Clifford Noble opened the Barnes & Noble flagship store on Fifth Avenue at 18th Street in New York City. Some time after they passed away, Leonard Riggio obtained that store. Mr. Riggio got into the bookselling business when he attended NYU in the 1960’s. He worked as a clerk in his …show more content…
They also plan on adding services such as a fire pit and a bocce court. They will start off with four stores, and if they do well, they will expand. The objective of this is to drive traffic to the store and keep customers in the store longer. For the past couple of years, Barnes & Noble has not been doing well and was pushed to change its business model. The graph attached shows that the Barnes & Noble stock has really been going down since mid 2015 which verifies that they needed a new business …show more content…
The reason for this is their competition with Amazon. Amazon released the Kindle in 2007 while the Nook was released in 2009. Amazon really sparked the market for e-readers. In 2016, it was reported that the Nook store has less than 4 million e-books available while the Kindle has just under 5 million. I think this area could use a strategy change. Barnes & Noble should needs to make the Nook easier to use. A way to entice customers to leave Kindle for Nook is to have an option where if you buy a hard copy of a book in store or online, you can automatically get the Nook version for free. When people go on vacation, they don’t always want to pack physical books but may want to re-read a book they had bought in a hard copy. This may help raise the price in stocks which means the company is doing
William Barnes and G. Clifford Noble opened the Barnes & Noble flagship store on Fifth Avenue at 18th Street in New York City. Some time after they passed away, Leonard Riggio obtained that store. Mr. Riggio got into the bookselling business when he attended NYU in the 1960’s. He worked as a clerk in his …show more content…
They also plan on adding services such as a fire pit and a bocce court. They will start off with four stores, and if they do well, they will expand. The objective of this is to drive traffic to the store and keep customers in the store longer. For the past couple of years, Barnes & Noble has not been doing well and was pushed to change its business model. The graph attached shows that the Barnes & Noble stock has really been going down since mid 2015 which verifies that they needed a new business …show more content…
The reason for this is their competition with Amazon. Amazon released the Kindle in 2007 while the Nook was released in 2009. Amazon really sparked the market for e-readers. In 2016, it was reported that the Nook store has less than 4 million e-books available while the Kindle has just under 5 million. I think this area could use a strategy change. Barnes & Noble should needs to make the Nook easier to use. A way to entice customers to leave Kindle for Nook is to have an option where if you buy a hard copy of a book in store or online, you can automatically get the Nook version for free. When people go on vacation, they don’t always want to pack physical books but may want to re-read a book they had bought in a hard copy. This may help raise the price in stocks which means the company is doing