Why everybody can win
Michael Edwards, the CEO of Borders
How the e-book and the bookstore can co-exist.
by Michael Edwards, CEO, Borders in Fortune. June 21, 2010.
"It's important to understand what's driving the rise of e-books in the first place: the strong-as-ever desire of consumers to read books, in one form or another. After all, what's a device without content? As e-books, readers, e-bookstores, and specialized apps make it easier for consumers to enjoy books, they'll buy more titles, and read them more quickly. This expandable consumption drives growth across the category while increasing reading in general--a true win-win for booksellers of all kinds as well as our customers.
"Ultimately, there's no reason traditional bookstores and digital booksellers can't co-exist; for all their common ground, each offers a substantially different value proposition. Of course, the onus is on booksellers to prove their continued relevance in the digital age. If they continue to innovate in the services and experiences they offer and the ways they engage the community, consumers will continue to make bookstores a vital part of their lives. If they fail to adapt to changing market conditions and consumer needs, they'll deserve the empty aisles--and cash registers--that result. The next chapter is up to them."
Read the full piece at Fortune magazine.
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