BTW News Briefs

ASTRA Finds “Neighborhood Toy Store Day” Increases Sales and Foot Traffic

The American Specialty Toy Retailing Association (ASTRA) said that nearly two-thirds of its retailer members that participated in last weekend’s celebration of the first annual national Neighborhood Toy Store Day reported increased foot traffic and sales in their stores over the same day last year.

ASTRA also reported that:

• 84 percent of participating retailers reported that they reached out to the media in their local markets using materials provided by ASTRA
• 71 percent featured an announcement of the year’s Best Toys for Kids winners – a signature ASTRA program
• 24 percent made a local charity the beneficiary of some aspect of the day’s events.

“We consider this first Neighborhood Toy Store Day to be a huge success,” said ASTRA President Kathleen McHugh. “The event is about growing the specialty toy industry for everyone who is dependent on moms and dads and grandparents and others buying toys for kids. We thank all the retailers, manufacturers, sales reps and others who participated, and we look forward to making it even better next year.”

Joseph-Beth Group Files for Chapter 11

On November 11, the Joseph-Beth Group, the parent company of Joseph-Beth Booksellers and Davis-Kidd Booksellers, filed for Chapter 11. The company announced the closing of the Joseph-Beth Booksellers in Cleveland and the Davis-Kidd Booksellers in Nashville, Tennessee. The announcement followed the previous week’s announcement of the closing of its Charlotte, North Carolina, and Pittsburgh, Pennsylvania, locations.

The company said that “continuing challenges for the book industry, a weak economy and resulting sales decline, along with economic forecasts for the first half of 2011 represent significant challenges to Joseph-Beth and the entire retail industry.”

The Joseph-Beth Group also said that during the reorganization “there should be little, if any, impact on day-to-day operations.” The company has secured DIP (Debtor-in-Possession) financing. Upon Court approval, the DIP financing combined with the company’s cash from operations will provide sufficient liquidity to pay expenses moving forward, including trade and employee obligations.

Since the announcement, a “Keep Davis-Kidd Nashville Open” Facebook campaign has been launched, and at press time had gained 2,000 fans within 46 hours.

BISG Says E-Book Buyers Are Buying More, Spending Less

This week, the Book Industry Study Group released some key findings from the first installment of its 2010 − 2011 cycle of Consumer Attitudes Toward E-Book Reading survey set.

“Earlier this year we reported that e-book readers cite ‘affordability’ as a key priority in choosing an e-book over its print counterpart. Now, we’re seeing how that might translate to bottom line revenue,” said Scott Lubeck, BISG’s executive director.

Among the findings released by BISG this week:

• E-book buyers are buying fewer print books: more than 40 percent of survey respondents say they have reduced the number and dollars spent on hardcover and paperback books.
• Publishers are declining as a source of information about upcoming e-books, being replaced by retailers.
• General fiction and mystery fiction are the fastest growing genres for e-books.
• Third parties play an important role in device acquisition: survey respondents say they more often received their device as a gift. Thus, the upcoming holiday season could have a profound impact on e-book reading.
• When purchasing for themselves, survey respondents say they are most often motivated by a suggestion from a friend.

The complete survey findings are available for sale both as a PDF summary report and as a complete data compendium, accessible online. Ordering information is available on the BISG website.

BEA Introduces Redesigned Website, Organizes Webinar

This week, BookExpo America launched a completely redesigned website and a video tour that explains all of the site’s new features. Information on BookExpo America 2011 can also be found on Twitter, LinkedIn, and Facebook.

BEA also announced this week that is also offering a marketing tutorial focusing on social media applications on Tuesday, December 7, from noon to 1:00 p.m. EST. “Facebook: Driving Traffic With Tips, Tactics and & Applications for Publishers and Authors” will be presented in partnership with the Book Industry Study Group and is sponsored by Combined Book Exhibit. Details are available at prolibraries.com/bea.