As new technologies have turned the book publishing industry on its head, the U.S.’s largest chain bookstore’s push to embrace digital may lead to its ultimate demise. As Barnes & Noble raced to compete with Apple and Amazon in the eReader and tablet business hoping to own marketshare on eBook sales, the company lost hundreds of millions of dollars.
And let’s face it, a physical bookstore in an era of cheap e-commerce options doesn’t give them a lot of cash to spare. The company is now without a CEO after William Lynch, who spearheaded the Nook business plan, was forced to quit. Barnes & Noble’s biggest mistake seems to be forgetting about people’s love of print books and banking on eBook sales, which so far have steadied out around 20% of book sales. Read more