WaterstonesSaving the Largest British High Street Bookstore

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

• Decline in the High Street

• Downfall of Marks and Spencer

• Social Media Promotions

• Rise in E-Books (50 Shades Effect)

• Return to Tradition/Heritage

Key Summer Trends

• Marks and Spencer

• Clinton Cards

• La Senza

• Waterstones

• Jigsaw

Brands in Trouble

Fig 1.

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Fig 2.

Waterstones

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

• Books

• Reports

• Online Sources

• Databases e.g. Mintel, GMID

• Blogs

Secondary

• Seasonal Bias

• Sample Sizes in Relation to Market

Limitations

• Questionnaire – Sampling 200 Consumers of 5 Generational Segments

• Interviews – Sampling 20 Consumers of 5 Generational Segments

• Retail Diary – Conducted over 2 Months

• Store Layout Analysis – Sampling 20 Consumers of 5 Generational Segments

Primary

Fig 3.

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Books & E-Books Market

Fig 4.

WaterstonesFig 5.

Introduction Methodology Market Trends Consumers Waterstones Competitors Summary

Waterstones

“Relationship marketing is too much about the

relationship that the producer wants and very little about the relationship that the consumer requires”

(Szmigin, I, 2003, P14)

Introduction Methodology Market Trends Consumers Waterstones Competitors Summary

WaterstonesFig 6.

Introduction Methodology Market Trends Consumers Waterstones Competitors Summary

WaterstonesFig 7.

Introduction Methodology Market Trends Consumers Waterstones Competitors Summary

WaterstonesFig 8.

Introduction Methodology Market Trends Consumers Waterstones Competitors Summary

Waterstones

“A warm atmosphere makes people feel

secure enough to talk to one another, consumers feel that other visitors will be there to browse similar titles and are reasonably literate,

therefore making them feel safe in that environment”

Faith Popcorn on ‘Clanning’ Bookstores(Popcorn, F, 1996, P67 )

Introduction Methodology Market Trends Consumers Waterstones Competitors Summary

WaterstonesFig 9.

Introduction Methodology Market Trends Consumers Waterstones Competitors Summary

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Fig 10.

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Fig 11.

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Fig 12.

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

What do you dislike most about shopping in-store?

What do you look for in a retailer?

Customer ServiceCompetetive PricesStylish WebsiteEasy to Use WebsiteInteractive Social MediaProduct ChoiceStand Out Retail Space

Lack of ChoiceQueuingBad Customer ServiceJust Easier OnlineOther

Fig 13.

Fig 14.

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Fig 15.

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Fig 16.

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Brand Values

• Objectives: Become the lead retailer in the book industry both on the high street and online (Waterstones, No Date, Online); Provide a consistently high level of customer service; Drive more traffic to Waterstones.com (I Spy, No Date, Online); • Mission: To be the leading bookseller on the high street and online providing customers the widest choice, great value and expert advice from a team passionate about bookselling. Waterstones aims to interest and excite its customers and continually inspire people to read and engage in books. (Waterstones, No Date, Online)• Essence: A reliable and trusted bookstore who provide a wide range of products, for a wide range of consumers and have become a staple on the British high street.• Tone of Voice: Trustworthy, Reliable, Passionate, Successful• Emotional Vales: Education, Passion, Intelligent, Local• Functional Values: Service, Responsible, Affordable

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Consumer Segmentation

The Collector The Avid The Academic

The Magazine The Commuter The Holiday

Fig 17. Fig 18. Fig 19.

Fig 20. Fig 21. Fig 22.

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

“Amazon has very granual information about each individual shopper but is

yet to combine these individuals into communities”

“Engages with each consumer to promote

relevant, sharply defined products, pulling in insight

about the behaviour of other shoppers as sales

collateral” (Parkin, G, 2009, P61 )

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Fig 23.

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Strengths

• Customer Service• 300 Stores Nationwide• 63% Prefer to Shop In-Store• “Old School, the Best”• Respected Brand

Weaknesses

• Not Seen as Competitive Online• Amazon has Huge Portion of Market• Seen as Expensive• Wide Range of Consumers

Opportunities

• E-Books• Store Experience• Online Platforms• Personalisation of Service• Community

Challenges

• Decline of High Street Stores• E-Books• John Lewis chosen to stock Nook• WHSmith’s aim to become the best bookseller

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

Fig 1. Decline of the High Street Cartoon. Source: PinterestFig 2. Summer Newspaper Research. Source: Own ImageFig 3. Light Bulb Chair. Source: PinterestFig 4. Books & E-Books Market 2012. Source: MintelFig 5. Social Media Pinboard. Source: Own PinterestFig 6. Interactive Stores Pinboard. Source: Own PinterestFig 7. Decline of the High Street Pinboard. Source: Own PinterestFig 8. Community Pinboard. Source: Own PinterestFig 9. Escapism Pinboard. Source: Own PinterestFig 10. Citizen Brands Pinboard. Source: Own PinterestFig 11. Social Consumer Infographic. Source: PinterestFig 12. Consumers Pinboard. Source: Own PinterestFig 13. What do You Look for in a Retailer? Source: Own GraphFig 14. What do You Dislike Most About Shopping In-Store? Source: Own GraphFig 15. Waterstones Pinboard. Source: Own PinterestFig 16. Waterstones Pinboard. Source: Own PinterestFig 17. The Collector. Source: PinterestFig 18. The Avid Reader. Source: PinterestFig 19. The Academic. Source: PinterestFig 20. The Magazine Reader. Source: PinterestFig 21. The Commuter. Source: PinterestFig 22. The Holiday Reader. Source: PinterestFig 23. Competitors Pinboard. Source: Own Pinterest

List of Images

WaterstonesIntroduction Methodology Market Trends Consumers Waterstones Competitors Summary

• Szmigin, I, 2003. Understanding the Consumer. 1st ed. Sage Publications Ltd: London

• Popcorn, F, 1996. Clicking: 16 Trends to Future Fit Your Life, Your Work and Your Business. 1st ed. Thorsons: London

• Waterstones, No Date. About Waterstones [online] Waterstones. Available at: http://www.waterstones.com/waterstonesweb/pages/about-waterstones/100000002/ [Accessed: 05/11/12]

• I Spy, No Date. Waterstones’ Success Story [online] I Spy. Available at: http://www.ispymarketing.com/casestudy_waterstone.asp [Accessed: 16/12/12]

• Waterstones, No Date. About Waterstones [online] Waterstones. Available at: http://www.waterstones.com/waterstonesweb/pages/about-waterstones/100000002/ [Accessed: 05/11/12]

• Parkin, G, 2009. Digimarketing: Strategies for Online Success. 1st ed. New Holland Publishers: London

References