Bookworms would definitely know the three big names when it comes to selling books – Barnes and Noble, Borders Group and Amazon. These three companies have been constantly competing to become the best bookseller currently in the market. There are certain things to consider in finding out the difference among the three companies and which actually takes the biggest lead. Some of the key points of comparison would be the price, quality of products and services and stability.
Revenues
Barnes and Noble and Borders Group maintain physical bookstore locations – 800 and 1,000 stores respectively. Amazon does business solely on the Internet. A recent report indicated that on the average, Barnes and Noble’s sales reached about $4.7 billion, Borders Group $3.8 billion, while Amazon have reached an annual sale of $15 billion. There is no doubt that Amazon has taken a very big lead in this aspect. With no physical stores and local employees to maintain, anyone can easily go online and buy and sell books at the comfort of their own home. This is the key ingredient to Amazon’s success.
Business Strategies
Barnes and Noble was one of the companies that were hit by the recent recession, and was only able to recover after some capital infusion. The recession also had a negative impact to Borders Group. Amazon, on the other hand, was able to conduct business as usual. Avid readers and book lovers continue to buy and sell books online, and Amazon went through the recession with ease and confidence. After all, why would people bother to visit a local branch of Barnes and Noble or Borders Group when they can easily find what they are looking for online and have the book conveniently delivered at their doorstep in no time?
Future Prospects
A lot of companies are now shifting to the online marketplace. Amazon, being one of the firsts in creating a secure and reliable online store, has definitely made and left its mark. Barnes and Noble and Borders Group may have also set up their online stores, but Amazon have already gained the trust of their customers by continuously offering reliable service which involves buying and selling new and used books. In 2009, Borders Group got the Best Books Awards despite the fact that during that time, Barnes and Noble was in better shape. However, it is too early to say whether Amazon can maintain its being on top in terms of sales revenue in the coming years.
Barnes and Noble, Borders Group, and Amazon may have different business strategies and different results for the past few years, but these three companies are still the best choices when it comes to purchasing new and used books of the highest quality. Although at this point Amazon is way ahead in terms of revenue and online marketplace system, it is very early to conclude that it will continue to lead the pack in the future. The race is still on and any of these three companies could still emerge as the best bookstore there is.
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