Time for bookstores to turn the page

Future imperfect

The epidemic has been a sharp reminder to bookstore owners and operators that they should improve their risk-management.

Chen Peng, general manager of the PageOne bookstores in Beijing, said his company took tight control over costs and risk management, which had reduced pressure on its finances.

He anticipated PageOne will not have a cash problem if the epidemic ends in the second half of this month.

"Even though the book business is a low-profit industry, it has enjoyed policy preferences that other industries haven't," he told China Entrepreneurs.

The landlords of the three PageOne stores in Beijing have cut rent, which has eased the financial burden on their operations, Chen said.

Similar to other bookstores, PageOne hasn't had many in-store customers over the past two months, but it has followed its existing plan to increase its online businesses on several platforms.

Hu, the owner of Booyee, said online book selling is inevitable, and a natural result of technology and the way people now shop.

However, he said brick-and-mortar bookstores should develop into "cultural communications spaces" rather than just places where books are sold.

"People who go to bookstores don't just go to read books, they want more experiences and are willing to pay for them," he added.