It’s the same old story. David vs. Goliath. Big vs. little. New school vs. old school. The grass is always greener on the other side of the fence. The New York Times has published this article about internet giant Amazon.com. In this recession, Amazon has not struggled. They are actually fairing better than the competition. Amazon has posted an increase in profit for the most recent quarter.
Some analysts say Amazon has benefited from the downturn, with struggles at the Borders book chain, the bankruptcy of Circuit City and turbulence at a rival, eBay, all driving traffic to Amazon.com. The company said its electronics and general merchandise sales were up 38 percent, while media sales rose 7 percent.
“Brick-and-mortar companies are going bankrupt and going out of business altogether and that is helping Amazon gain market share,” said Imran Khan, an analyst atJPMorgan.
Division St. has the scars that illustrate the effects of this battle. River City Books has closed. Bookfellows will close in May. At Monkey See, Monkey Read, we are hanging on and hoping for greener pastures this summer. I wrote this piece about how well we compete with amazon. I think our prices are fair. We buy back your used books and offer generous trade credit. I offer up what I think is a pretty good selection of books. I feel that we provide a good service to the community.
At the end of the day, like any small business, we need to turn a profit to survive. The empty storefronts in Northfield reflect the difficulties a small town and small businesses face in this crowded marketplace. Capitalism is cut-throat. As retailers, we need to find ways to better serve our customers if we want to succeed. The buying public will decide what businesses survive and which ones go away. I consider myself to be an optimist. I plan to be a survivor. I welcome your comments.
I keep singing your praises whenever I can!!! You are fabulous and our family loves your selection. Keep up the good work, and I’ll keep directing folks your way.
Jerry, it’s not always economic factors that decide whether or not a retail establishment stays in the black. Customer service plays a huge role. Businesses in Northfield would be wise to not underestimate the importance of treating their customers as if they were people, and going above and beyond to ensure customers are satisfied to stay competitive. Furthermore, owners and employees need to ensure that potential customers/browsers remember that there was something memorable about the store they just visited, even if they didn’t buy anything that time.
I guess my point is: it’s not the Economy, Stupid.
The reason I have been going to the Monkey for over two years has nothing to do with economics. Keep up the good work! Hope to see you downtown when you are old, feeble, and senile, and therefore more likely to forget to charge me.
Have a nice day, Jerry, and may all your sales be final.
[...] it’s much easier to ask Jerry of Monkey See Monkey Read on Division Street in Northfield to get it for [...]