Borders Nearing Bankruptcy Filing: The end of brick-and-mortar book stores has been predicted for years, but I feel like this is the biggest (saddest?) milestone yet. Borders is putting a positive spin on it, but experts are saying they’ll have to liquidate like Circuit City.
Online shopping, and the advent of e-readers, with their promise of any book, any time, anywhere, and cheaper pricing, have shoppers abandoning Borders and Barnes & Nobles bookstores as they did music stores a decade ago.
“I think that there will be a 50% reduction in bricks-and-mortar shelf space for books within five years, and 90% within 10 years,” says Mike Shatzkin, chief executive of Idea Logical Co., a New York consulting firm. “Book stores are going away.”
Ninety percent reduction in shelf space 10 years? It’s over. Amazon and Internet in general have won.
I will genuinely miss book stores. Though the Internet has a million advantages, I will still miss them. Will used book stores be the only ones left? Can they even survive?