Kinokuniya to compete with online retailers through direct purchases from publishers
Japanese bookstore chain Kinokuniya has revealed plans to increase direct purchases of books from publishers—as opposed to the conventional practice of buying them through wholesale booksellers—in order to better compete with online retailers, reports asiaone.com. In September, Kinokuniya purchased 90% of the print run of Haruki Murakami’s latest essay collection directly from the publisher, effectively limiting the number of copies available through online retailers. The company’s president Masashi Takai said the strategy was likely to be repeated in the future. ‘We’ve received similar offers from other publishers. We’ll go on with similar direct purchases if we think we can make a profit. In addition, at a joint venture firm that we established with Dai Nippon Printing Co. [which owns Maruzen and Junkudo bookstore chains], we’ll try out a pilot project in which more than one chain will jointly purchase books directly from publishers.’ In Japan, booksellers who purchase titles directly through publishers can secure greater profit margins, but are unable to return unsold copies.
Category: International news