As much as I hate to say it, Barnes & Noble is a sinking ship. Their execs have been making a series of moves lately that smack of desperation.
1) They over-ordered the Nook Touch for last Christmas. And just like in December, they are currently having a sale--
buy a Nook HD+ and get a Touch for free.
2) They've added more cute, kitchen-y items as well as foods other than sweets and caffeine. Seriously, when DH and I stopped for coffee at our local B&N after my eye doctor appointment on Monday, three of the five tables between the Nook counters and the cafe were filled with themed utensils, jams and bread mixes.
3)
They announced the revolutionary idea of in-app purchases. But they won't be availabel until next month.
4) It used to be that B&N membership meant customers received one 15%-off coupon four times a year. I've received at least five 20-25%-off coupons, not to mention some sweet cafe deals, and it's not even the end of the first quarter yet.
5)
B&N is engaged in a battle with Simon and Schuster over the payment for end caps and front table space. As a result, they are under-ordering or failing to order a huge amount of mid-list books. After preaching how much traditional publishers and bookstores need each other to survive, they've now turned on each other.
What's more significant are the things they've promised and haven't delivered, like streaming movies, TV shows or music.
Please don't get me wrong. I don't want to see Barnes & Noble fail. This month alone, I've sold 100 e-books compared to eighteen at Amazon. This is the rough 5-1 ratio I've been mentioning in the last few status updates. I have a vested interest in wanting them to succeed.
But honestly, I don't see how they can without moving into the 21st century. That means streaming entertainment and more digital downloads than just books. This means two-day in-store delivery of ordered books, not two-weeks. This means an honest and radical revision in how they do business, not stop-gap moves.
I'm afraid Barnes & Noble is sailing in a war zone, despite numerous warnings, just like the doomed
RMS Lusitania. While it may not take eighteen minutes for Barnes & Noble to sink, the enemy torpedo has already hit the ship. It's just a matter of time until the magazine blows.