Bookstores doing badly? Huh?

Lots of articles about how badly bookstores are doing, which is crazy because I think all of the local, Central Oregon, bookstores are doing incredibly well. At least, that's how it appears to me.

Sales on books are up tremendously at my store. Part of this is the two years I've spent building the book part of the store, but at least part of it is a newfound appreciation for local bookstores. My feeling is, Barnes & Noble is no longer a "new" phenomenon compared to dusty old Indies: in fact, these days most Indies have much more life and flair to them than fuddy-duddy B & N. Again, that is only anecdotal and a guess, but that's the way it seems.

But I don't doubt that many bookstores aren't doing so hot. 

1.) For some reason, bookstores seem more severe in their Covid precautions than most businesses. I have no idea why this is, but closing the doors and doing only curbside and/or online for months on end isn't a winning strategy. 

Pegasus Books has been open every day that we've been legally allowed. (All but 54 days.) We have firm mask-wearing protocols, and that seems to have worked: Sabrina and I are both vaccinated and boosted and we haven't gotten sick and on most days we have a nice crowd of people coming into the store.

2.) Lots of bookstores have built a business model based on special events: signings, readings, panel discussion, book clubs, etc. etc. I've never been fond of these promotional efforts. This sort of proves the point: these bookstores were dependent on bread and circuses to survive, instead of everyday sales. If you can't survive on everyday sales, then it will catch up to you at some point.

3.) Begging for money. Well, I'm not a fan of this. I would do it if my store was in dire straights, but then again, without changing the business model, this is only throwing good money after bad. We've been doing so well, I can't see myself doing it. I have too much pride for that.

4.) Used bookstores seem to be doing terrible. (Again, anecdotally.) I'm really not sure why this is. It seems counter-intuitive. All I know is, with a new bookstore, I can carry exactly what I want, and if I'm any good at figuring out what others want, that works.

5.) Lack of backlist books. Most Indies depend on the latest bestsellers to make their money. Just to throw out some random numbers, I'm guessing the it's at least 60/40 new versus backlist for most stores. (My own guestimate is more like 75/25.) We're the exact opposite. I depend on the backlist for the majority of my sales. The sad thing is, Indies could really do a better job of carrying backlist--and at the same time, in my opinion, still make the same amount on new bestsellers. All it takes is a bit of attention. 

I realize that Bend is a unique place. We're growing, attracting well-heeled folks, and we have a growing and thriving tourism inflow. Especially downtown Bend. So we may be weathering the storm better than most bookstores, but...

I do think that a lot of bookstores are a "dream" and not run especially well. At least, from my observations on my travels. It's not an easy business, by any means, but I have to say: for the twenty or so years I hesitated in doing new books all I heard was how hard it was. But once I got into it, I found it ten times easier to order for than, say, comics. It's actually not a terribly difficult business--get books in stock that people want. Pretty simple. 

I've spent most of my 40 year career learning the hard way that the assumptions that people make about small business are mostly wrong. Unfortunately, may people still operate their businesses on those assumptions.

PS: Notice I don't mention Amazon. Hey, it's a fact of life and just has to be factored in. It doesn't preclude you from doing a good job on your own.