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- All Subjects: Marketing
- Creators: Mokwa, Michael
- Member of: Barrett, The Honors College Thesis/Creative Project Collection
- Status: Published
To gain insight into the state of the industry and current position of independent bookstores, I will first examine the past fifty years of the brick-and-mortar bookstore, followed by a Porter’s Five Forces analysis of the industry threats and a SWOT analysis to compare the strengths and weaknesses of independent bookstores. Next, the patrons of independent bookstores will be discussed with a focus on the two largest consumer groups of Millennials and Baby Boomers, their characteristics, and the opportunities they provide to bookstores. After this there will be an exploration of the competitors to brick-and-mortar bookstores, focusing on Amazon and then touching on some of the other rivals to bookstores’ consumer base. The next section will be an in-depth analysis of a variety of bookstores across the United States, with attention to their successful practices, goals, concerns, and failures. First, there will be a comparison of industry success and failure through case studies of Borders and Powell’s bookstores. Next, there will be a comparison of five beloved independent bookstores across the country to share their varied competitive advantages that are the secret to their success. Finally, there are primary source interviews with the employees of three major Phoenix bookstores, which provide insight into the goals, current projects, attitudes, and inner strengths of these businesses. Finally, the thesis will conclude with a section offering solutions and suggestions for independent bookstores to pursue based on the primary and secondary research discussed above. These recommendations are focused on five key areas:
• Community
• Consumers
• Store Design
• Technology
• Diversification
Ultimately, the information provided by this research and these interviews indicates that while vital business changes are being pursued by independent and chain bookstores across the United States, the independent bookstore shows no signs of disappearing in favor of online vendors or e-readers.
The retail department store industry has been in decline for years. Online shopping has become increasingly popular, and this was happening even before the pandemic. Department stores made the mistake years ago of focusing on expansion instead of improving their presence online. In this paper, I make recommendations to help retail department stores make more sales online, as well as get more shoppers back in their brick-and-mortar locations. There needs to be a new target customer that is much younger than the previous. Department stores need put money and time into building their social media platforms. These stores should be looking for several e-commerce brands to incorporate into their stores online, but more importantly in their brick-and-mortar locations. To grow bigger faster, department stores should start to consider using trusted third-party sellers like their biggest competitor Amazon does. Many younger people choose to shop from sustainable and socially responsible brands. Department stores should put in their best efforts to make sure they are caring about these things, not only to help make a change but to also increase their popularity among consumers. It is critical that large retail department stores use several influencers to promote their store and products among all forms of social media. This has become one of the most inexpensive and effective ways to increase sales. Finally, department stores should consider trying livestream shopping as a way to connect with their customers and sell more product. I have covered several ways that department stores can start to expand their business and begin to grow again. I believe these recommendations can transform the retail department store into possible something even more successful than it was before.
Especially during the current COVID-19 pandemic and age of social unrest in the United States, there has been an increasing need for comfort, yet the idea of comfort is quite vague and rarely elaborated upon. To simplify the idea of comfort and communicate the ideas around it effectively, I am defining comfort as a subset of escapism in which a person escapes to reduce or alleviate feelings of grief or distress. As companies rush to comfort their customers in this current state of uncertainty, marketers are pressed to identify people’s insecurities and comfort them without coming off as insensitive or trite. Current comfort marketing focuses on inspiring nostalgia in its customers, having them recall previous positive experiences or feelings to comfort them. Nostalgic marketing techniques may ease mild grief in some cases, but using them to alleviate severe distress probably will not be as effective, and has contributed to several seemingly out-of-touch “COVID-19 era” commercials.<br/>When addressing comfort, marketers should understand the type and hierarchy of comfort that they are catering to. Not all comforts are equal, in that some comforts make us feel better than others and some do not comfort us at all. A better understanding of how and why comforts change among different individuals, and possibly being able to predict the comfort preference based on a product or service, will help marketers market their goods and services more effectively. By diversifying and specializing comfort marketing using this hierarchical method, marketers will be able to more significantly reach their customers during “uncertain times.”