Is the value of a good book immeasurable? Think again! Walmart and Amazon have a feeling that it hovers somewhere under 10 bucks. The two online giants have begun a deep-discount war that is more reminiscent of neighboring delis or much like the fight between the Ambani's of India. It all started with Walmart's promotion offering of their top 10 pre-ordered books (including Sarah Palin’s memoir and new books from Stephen King, James Patterson, John Grisham, and Michael Crichton) for only a sawbuck — including free shipping. Amazon responded by matching their price, but as of this morning, both deals had slipped down another notch to a staggering $9 per popular new hardcover.
Due to the costs of producing; warehousing; shipping; selling; and marketing books, hardcovers cost way more than $9 to get onto the store shelves. Paperbacks are cheaper to produce, but a lot of costs were absorbed in hardcover publication. Besides, American reviewers still don’t take paperback originals seriously, and review attention is a major part of publicity for a book (as radio is for music). The economics behind book publishing is very tight, and margins for all involved (aside from a few big name authors) are very slim.
Although it might spell better deals for the common man, it’s hardly an auspicious sign for the vitality of the industry. It’s even worse news for independent booksellers who aren’t able to compete at anything near the level of Sam Walton’s little corner store.
Due to the costs of producing; warehousing; shipping; selling; and marketing books, hardcovers cost way more than $9 to get onto the store shelves. Paperbacks are cheaper to produce, but a lot of costs were absorbed in hardcover publication. Besides, American reviewers still don’t take paperback originals seriously, and review attention is a major part of publicity for a book (as radio is for music). The economics behind book publishing is very tight, and margins for all involved (aside from a few big name authors) are very slim.
Although it might spell better deals for the common man, it’s hardly an auspicious sign for the vitality of the industry. It’s even worse news for independent booksellers who aren’t able to compete at anything near the level of Sam Walton’s little corner store.
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