Outside a rebranded Indigo store
Inside a rebranded Indigo store
For a business to continue to thrive it must be able to adapt to changing consumer preferences. For Indigo, a large Canadian book supplier, this is especially true. Bookstores are closing throughout North America due to the rise of alternatives such as e-books. However, Indigo has taken an unique approach as they have chosen to become a “cultural apartment store” This has lead to a resurge in profits, and as noted in a recent article, the potential opening of new stores. Comparably, the two biggest American bookstore companies “Borders” and “Barnes & Noble” have become either bankrupt or in distress. On the other hand, Indigo has been able to attract customers with other products such as toys, art, and creative household items; while still priding themselves as a bookstore. It is a creative way to maintain business and demonstrates great fortitude for a struggling business. Yet, I do not think this strategy would work for all bookstores, as the market would become saturated. For example, it would be difficult to envision multiple “cultural apartment stores” within the same area. While this may be true, it is still comforting for passionate bookstore lovers across Canada that it will still be possible to get lost in the search for the perfect book.
Articles Used: http://metronews.ca/news/canada/1028145/are-we-witnessing-the-death-of-the-canadian-bookstore/
http://www.theglobeandmail.com/report-on-business/indigo-actively-looking-to-open-more-stores/article21455710/