With the rapid development of the Internet, an increasing number of E-books and online book-renting websites have developed in recent years. While they offer more choices and convenience to their customers, the online bookstores have also caused physical bookstores to close. Even Taiwan’s well-known bookstore Kingstone Books has been on the verge of collapse. Yet, why does the leader of the industry – Eslite Bookstore — doesn’t seem to be affected? Why does it stand strong in the market?
Someone pointed out that the main reason that sets Eslite Bookstore apart from others is that it highly values cultural activities. By holding lectures and cultural events, Eslite Bookstore has successfully transformed itself from merely a bookstore to a cultural brand. Although many short-sighted operators believed it’s useless to do so as it doesn’t bring extra profit to the company as very few people actually attend such events. However, it’s not true that holding cultural events is a waste of money, the commentator said. Since operating a bookstore is a culture-related business, holding lectures and events is actually a way of marketing the brand.
Some also pointed out that the most impressive thing about Eslite Bookstore is its customer flow management. The ultimate goal of a physical store is to keep the customers coming (for which they do quite a great job) by combining book-related activities with other industries.
Last but not least, the commentator said that it wouldn’t be an exaggeration to call Eslite Bookstore a “national treasure,” especially when it’s one of the few enterprises that has successfully made a business out of culture. Its business strategy was even imitated by many foreign brands. It’s truly amazing that Eslite Bookstore remains highly competitive and well managed even in a place with such high land prices like Taiwan. ●