The Maturing Book Buyer

Growing Market Opportunity for Independent Booksellers

By Michael F. Hoynes, ABA Marketing Officer

Much has been written about the aging of America. A major part of the story is the approximately 72 million baby boomers who are now moving into their fifties. Every shift in demographic patterns creates a new business opportunity for some business sector, and there is a great deal of evidence that the growing number of older book buyers opens a major marketing opportunity for independent booksellers.

Five years ago, the typical customers of independent bookstores were 40 years old or older, and they accounted for 40 percent of all book buyers. Today, consumer research on book purchases indicates this same group of consumers is now the dominant segment for book purchases. Based on the latest Consumer Purchasing Study of Ipsos BookTrends, 63 percent of all adult book purchases are made by consumers over 45, with 51 percent purchased by people over 50. Adults over 45 purchase 33 percent of all teen books and 40 percent of all children's books. A closer look at sales of children's books shows that 28 percent of all purchases are made by adults over 50, up from 20 percent five years ago. Adults over 50 are also the major consumer segment purchasing bookstore gift certificates, which are given for many different occasions and frequently sent long distances to relatives and friends.

These maturing adults are more likely to have had pleasant shopping experiences in an independent bookstore and, often, would prefer an independent to a chain bookstore. However, we also know that many have become frequent customers of chain bookstores, the Internet, and mass merchandisers, and they may have forgotten the special values of independent bookstores. Yet, the study found that this is now the consumer segment composed of customers most interested in being treated as individuals rather than mass consumers.

Many adults over 50 are now grandparents, and this opens many new opportunities for them to purchase a wide variety of books. Many adults over 50 may not be frequent book readers but they do become frequent book buyers, and independent booksellers can seize the opportunity by delivering the personal shopping experience these maturing consumers seek.

The marketing data clearly show the maturing book buyer market is here. The major corporate bookstore chains review the same market data and see the same change. Independent booksellers should seize the initiative so they can attract new consumers to their bookstores.

Independent booksellers should consider establishing a Grandparent Marketing Program to reach out to current customers, as well as former customers and prospects. Such a marketing program can attract adult consumers who seldom visit a bookstore or are attracted by impulse-purchase displays at the mass merchandisers or warehouse clubs.

Here are some marketing concepts that independent booksellers can implement at very little cost:

• Grandparent Book Club: Create separate loyalty/frequent purchase clubs that may even include a newsletter with ideas for book purchases as well as special events.
  

• Grandparent Shopping Day: Many retailers have senior shopping days mid week. Why not a grandparent shopping event once a week or month?
  

• Grandparent/Grandchild Special Store Event: Have a special store event at which the price of entry for the grandparent is bringing a grandchild. It is a guaranteed sale! It also creates a "quality-time" opportunity for grandparents/grandchildren and can attract many adults who normally do not visit bookstores.
  

  This event creates a whole new rationale to visit a bookstore. If properly promoted, just think of all the parents who will spread the word and encourage more grandparents to visit with their grandchildren -- more new people visiting an independent bookstore and more new opportunities to generate new sales!
  

• Grandparent "Book-Tips" Event: Consider a mid-week store event at which a staff member can offer book-buying advice to a "new" grandparent or a grandparent of a teenager. New grandparents may not be familiar with the latest in children's books as it may be many years since their own children were youngsters. Grandparents of teenagers have less confidence about what books to purchase for teens, and many decide to switch to other products like clothes as gifts. Bookstore staff advice to grandparents on the latest in teen or young adult books could attract new consumers to the bookstore and might even lead to new book sales.
  

• A California bookseller has suggested cross-marketing the grandparent concept among teenagers. Bookstores could promote a Teen/Grandparent Event, which becomes a "quality-time" opportunity for the teen and a grandparent to spend time together ... with a major chance for the grandparent to pay for something the teen wants from the bookstore. It's another way to attract new consumers to the bookstore and make a sale.
  

A marketing strategy aimed at grandparents can also work very effectively for a new bookstore that is seeking to find a niche in the market and to provide consumers with compelling reasons to visit the bookstore. Marketing to grandparents is a concept that is ideal for word-of-mouth advertising and is a promotion that helps establish customer awareness of a store. It will also often generate local media coverage. This marketing concept does not require substantial marketing dollars, rather, perhaps, only a reallocation of current resources.

Independent booksellers need new sources for sales and growth. Viewing part of their local market through the eyes of grandparents with more discretionary purchasing power is a clear opportunity.