Borders looks to 'make' hits with independent-style strategy
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Marshall said during the earnings call that Borders' weekly share of the market for "The Middle Place" has been as high as 59 percent (based on BookScan numbers), a statistic Archer calls "definitely possible" and Greco calls "remarkable," noting the bookseller's estimated 10 to 11 percent share overall. (Rival Barnes & Noble is believed to have about 16 percent.)
"That's a real example of what happens when an account gets behind the book the way that Borders did," Archer says. "The independent stores are known for doing this, and people tend to see national stores following behind. But in this case, Borders had a very structured plan in place for it."
"City of Thieves" is well on its way to becoming another paperback success for Penguin Group (USA), which has mastered the art with "Eat, Pray, Love," "The Kite Runner" and several others. BookScan reports that "Thieves" sold just 27,000 copies in hardcover, but 50,000 in paper within two months.
Borders says its weekly market share for "City of Thieves" has been as high as 69 percent. Don Redpath, Penguin's executive director of national account sales for paperbacks, would not confirm that number, but said that Borders has had "an early and intensive impact on sales."
For "The Girls From Ames," published by Penguin imprint Gotham Books, sales have topped 9,000 less than two weeks after release. The book has reached the top 10 on several best-sellers lists, including The New York Times and Publishers Weekly.
Borders says the percentage of sales coming from its stores has been as high as 80 percent. Penguin sales executive John Lawton says that's overstated, but still credits Borders with more than 50 percent.
"They really used all their channels," says Lawton, Penguin's vice president and director for hardcover sales for national accounts. "We even did a huge event, in Ames, Iowa, where Borders brought a lot of people from their headquarters. ... It really emphasizes what Borders can do when they really put their minds to it."
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Kettletop | Nov. 24, 2009 at 11:52 a.m.
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