preview

Barnes And Noble Mission Statement

Decent Essays

The company/firm that I decided to write about is Barnes and Noble. Barnes and Noble’s are the largest retail bookseller in the United States. They first opened their doors in 1883 in New York City. In the past century, they have grown and expanded all over the United States. Currently the company is not doing as well as it did in the past due to the invention of eBooks offered in tablets as well as Barnes and Noble’s ebook product known as the NOOK. Barnes and Noble have deemed the NOOK the number one cause of their declining sales. Though the company is losing money they are remaining confident to the public. Their mission statement states “To operate the best Omni-channel specialty retail business in America, helping both our customers and booksellers reach their …show more content…

Barnes and Noble can make themselves very unique by offering a reoccurring a competitive subscription to their customers rather than making their current customers have to go online or walk into the store to buy a specific book. This technique has been very successful for Amazon when the Kindle was introduced. “One thing a forward-thinking retailer will likely have to do to survive going forward is really reinvent the business model. Here’s an idea for a bookstore: How about borrowing from the now-accepted SAAS (Software As a Service) approach and aim for recurring subscription revenue instead of transactional revenue. Set up an e-library which, for a modest fee, gives you books when you want them for as long as you want them, and thus makes it worthwhile to step up from free public libraries that have wait lists and lending-time limits” Gerstein, M. (2016, June 1). This will put them ahead of the curve in regards to other bookstores who are also suffering and trying to stay

Get Access