WATERSTONE'S DEFENDED BY LEADING PUBLISHER

Watershed in high-street bookselling
The Guardian, Saturday 14 November 2009

Stuart Jeffries laments the passing of the "old" Waterstone's without acknowledging many good things the "new" Waterstone's has to offer (Sold out, G2, 10 November). There are 300 branches of Waterstone's on high streets around the UK, staffed by people with a passion for their trade and carrying a vast number of books for all tastes. Of these only a carefully selected number are price-promoted at any one time. The details of a particular promotion might be confusing, but the outcome is wonderful for the consumer.

Jeffries cites Hilary Mantel's Booker prize-winning Wolf Hall: 800 pages of great literature for £8.99, £10 off its RRP. If, instead of criticising, the buyer referred to in the article had taken up the offer, she could have had another book completely free. Why is this anything other than a wonderful opportunity?
When Waterstone's first opened in 1992, a customer might place an order for a book and wait up to 28 days to receive it. Now that can take as little as 24 hours. Stores stay open later and longer and more people than ever go to festivals and events – many organised by Waterstone's – to meet authors and discuss their work.

Our buying habits have completely changed. We expect to be able to buy everything we need from anywhere at the best price and stores that do not adapt, including many of the biggest high street names in 1992, do not survive.
It is in all our interests: publishers, readers, authors and other retailers – that Waterstone's flourishes. Without them we will have 300 more high streets without a stock-holding bookshop where you can browse, order books, listen to authors and be advised by knowledgeable and dedicated staff.

Tim Hely Hutchinson
CEO, Hachette UK