Wednesday, October 17, 2007

what he said*

Dollar parity is especially problematic in the book trade, because the prices on imported books with Canadian representation are right on the jacket. $24.95 US vs $30.95 CDN or whatever.
The next question from anyone is obvious.
A trying few months aside, this is a good news story for those who love to read. Prices are starting to come down on U.S titles, in some cases dramatically. However, to read the Globe and Mail lately, you'd think every Canadian retailer wades trough wads of cash in their offices and gargles with Macallan Scotch in the morning.
To put it mildly, that's not true in the book trade.
To those who quite legitimately balk at paying the CDN prices on U.S titles, I say you're right to be annoyed. Perhaps we can show you something in a Canadian title, also priced to move. The worry about a $40 hardcover novel is a thankfully distant memory.
The same is true of non-fiction works. A comparison of best seller fare in 2003 and today reveals a healthy drop in price. In addition we've recently started discounting all Globe and Mail best sellers, both fiction and non-fiction; our staff picks are always twenty per cent off; (We've done most of the reading, we know from quality) and for what it's worth, publishers that have been caught flat footed will likely end up paying for storage on a lot of unsold inventory or selling it off at a steep loss.
. They know this and are being frog marched into the new world, by events in the wider world, and with the sustained pressure of booksellers ringing in their ears.
There are specifics around Canadian representation and economics of scale that are much better explained here.*

Posted by Dave

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