Showing posts with label Amazon. Show all posts
Showing posts with label Amazon. Show all posts

3/1/12

Opining on the Written Word


A recent post by TED regarding the Kindle sparked my brain to think about the future of literature  I had also discussed Amazon's forthcoming retail outlet, which had prompted me to also consider this.  I have written about books many times on this site, as they are a personal passion of mine.  I love both the literature as well as the actual experience of reading the book.  I am interested in a iPad or Kindle in the future, but this would only be for mobile reading and the ability to carry multiple books at once.  I have tried e-books in the past and always felt something was missing.

I feel my opinion is important and valuable to this discussion, because of my age.  I am 24 years old, and many of my peers do not read for pleasure at all.  Thanks to the fantastic technology that provides us 24 hour news coverage, a variety of television programming, movies, music and social media, literature lacks the exclusivity to a captive audience that it once had.  Books are a time-consuming process especially compared to other forms of media.  A movie is long if it takes 3 hours to watch, and a television show is crammed into 19 minutes (Yes Entourage, I am looking at you!).  In comparison, a book can easily take a week to digest and oftentimes is full of above average vocabulary and a lack of visuals which makes it more of a mental chore.

For all of these reasons, I believe that literature will have to adapt, and may in the short term struggle.  It is going to become a specialized market, not dissimilar to theatre, which was a major draw back in the day, opera, and a number of other leisure activities that have fallen behind the times.   The TV networks have supplanted our need for a book series with well made shows like Mad Men, Breaking Bad, and Luck.  All of these shows are intricate and sometimes command multiple viewings.  The episodes are long enough that they can be digested for a period of time and discussed on the internet and at the office.  Everything about books takes too long.  It takes too long to read the book, you can watch an episode of Breaking Bad in an hour, and a season within a month, if you are trying.  Thanks to streaming video this is possible anywhere on the globe!  It takes too long for the next book in a series to get to market and requires a lot more physical production in the printing of the book, while an episode could essentially be released to the web and available instantaneously.

My generation simply does not like to read in the universal sense that our forefathers did.  We are a now nation, with 140 character limits on Twitter, and status updates on Facebook.  Epic books can be well over 500 pages in length!  This is not to say a phenomenon like Hunger Games, Harry Potter or The Da Vinci Code can't become mainstream, but how many of your friends and family will never read the book and "just watch the movies"?

2/20/12

Amazon to Open Retail Location




I am a huge fan of Amazon.com.  As an avid reader, Amazon is the go to spot for any and all titles, at a reasonable rate.  They have also expanded into other product lines and they allow other retailers to use their platform, for a small fee.  Their used book market is also the premier internet book resale market, with students searching for textbooks and adults looking for novels and everything in between offered at a great rate.  Once again, Amazon provides the software and will handle various issues, for a commission on all sales.  They must have the model priced correctly, as there are many books that sell for $00.01 + 3.99 shipping.  I am intrigued by the Kindle, and may consider it when I decide to purchase a tablet, but for now I am going to stick with my MacBookPro until it becomes obsolete.

The exciting news that is being speculated is that Amazon may be expanding and opening a physical retail location.  This is surprising due to the recent struggles of book stores, precisely as a result of Amazon, see Borders Bankruptcy, and the rapid closing of independent book stores as the general public is less inclined to read.  I think that just looking at those factors would mean that investing in retail locations would be a mistake.  However, the angle that Amazon can use to be profitable, is to sell high margin books, Kindles, Kindle accessories, and offer some kind of a cafe.  Unfortunately, fellow Seattle based - Starbucks is in contract with Barnes and Noble, the dominant physical book retailer, and fierce competitor of Amazon, because that would be a match made in heaven.  I think that Amazon could work with another company to create a great cafe experience, with free wifi, a custom, rotating, selection books, the possibility of ordering books from the site to be picked up at the store and comfy lounge chairs, could be a great way to gain market share.

According to the sources I have seen, this is basically the model they are considering.  The rumor is that they will open a location in their hometown, Seattle, known for its willingness to try new things in technology and a love for cafes!  They are not looking to create a Barnes and Noble superstore, more like a boutique, and I think it can be a successful new line of business to drive profits for the e-commerce giant.


Source: Ritholtz