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Retailers, consumers and prices

Check Out Line: Borders launches e-bookstore … finally

July 7, 2010

bgp1Check out Borders Group finally launching itsĀ e-bookstore.

The No. 2 U.S. bookstore chain’s electronic bookstore comes nine months after rival Barnes & Noble debuted its Nook e-reader and three months after Apple introduced its popular iPad tablet computer, allowing both companies, and Amazon.com, which sells the Kindle e-reader, to get a head start.

No worries, says Borders, which saw sales at its namesake superstores open at least a year and on its website fall 11.4 percent in the first quarter.

“We’ll take market share just by turning it on,” said Mike Edwards, president of Borders Inc, the company’s main operating business.

Edwards said Borders had data and email addresses for the 38 million customers in its loyalty program and about 700 stores at which to promote its virtual bookstore, which will help it catch up. The company’s goal is to secure a 17 percent share of the e-book market by July 2011.

“A lot of people have said, ‘You’re kind of late to the game,’ and I’m saying, ‘the game actually just started,’” Edwards said.

However, larger rival Barnes & Noble recently said it has already won 20 percent of the U.S. e-books market since launching Nook, exceeding its share of the physical book market.

Also in the basket:

Family Dollar posts higher Q3 profit

Amazon launches UK grocery web site

More shareholders vote yes on climate goals

Kraft to sell Cadbury’s Romanian confectionary business

(Reuters photo)

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