More than ten years after leaving its historic Washington DC location, Barnes & Noble has reopened its flagship branch in Georgetown, according to Yahoo finance. The move, which is a component of CEO James Daunt’s ambitious growth plan, shows the company’s recovery after years of stagnation.
At the reopening, Daunt declared, “This is a dramatic example of the ongoing revival of brick-and-mortar bookstores.” Reversing a years-long trend of closures, the company’s return to Georgetown after 11 years comes as it embarks on an ambitious plan to open 54 new stores.
After experiencing declining sales caused by online competition, Barnes & Noble has embraced a community-focused business model, according to business analysis. After taking over in 2018, Daunt changed the retailer’s strategy from a centralized, promotion-driven structure to one that prioritized carefully chosen books and other products for regional markets. So Kansas City would have stock different from a location in Seattle or Phoenix. These days, store managers choose the merchandise and displays, matching local tastes at each site.
“The problem with Barnes & Noble when I took it over was that the bookstores themselves weren’t very good,” Daunt explained to CNN. “I think a proper bookstore has to be curated, and that is the essence of one of the core skills of what it is to be a bookseller. You are trying to have the titles that you think will most interest your customers and display them.”
This tactic has been successful, as has growing consumer interest in printed books. The location analytics company Placer.ai reports that since 2019, foot traffic to Barnes & Noble has grown by 7 percent.
The retailer’s comeback has also been greatly aided by the influence social media. Users’ sharing of book reviews and recommendations to friends and strangers has increased in-store interaction and influenced inventory choices. By making specialized displays and holding events like midnight release celebrations, stores have taken advantage of its appeal.
BookTok has revitalized the culture of reading, according to Shannon DeVito, the company’s head of books. The company hasn’t seen this level of excitement around book releases in years, DeVito contends.
Barnes & Noble’s renewed faith in the brick-and-mortar retail industry is demonstrated by their return to Georgetown. Barnes & Noble’s comeback indicates that there is still a need for in-person bookstore experiences, even after main rival Amazon closed its Amazon Books shops in 2022.
“There is always something that happens that is supposed to be the harbinger of the death of books, but what we’ve seen the last four years is completely the opposite,” DeVito stated.
–Dwight Widaman | Metro Voice
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