Waterstones eyes physical book resurgence after Kindle sales 'disappeared' at Christmas
Waterstones has reported that sales of the Kindle, the world’s leading e-book reader, have dried up as the physical book industry - touted to be slowly eradicated by the device - showed signs of recovery.
Waterstones looks to boost its high street presence
The bookseller announced that Kindle sales had “disappeared to all intents and purposes” whereas in contrast book sales rose five per cent in December.
On the stumble from the digital book market, James Daunt, chief executive of Waterstones, told the Financial Times, that the 290-store chain was looking to expand with regionally tailored outlets where store managers have more power to drive footfall.
Daunt said: “We used to try and run exactly the same bookshop in Blackpool as in Hampstead. That, my youngest daughter would tell you, is probably not sensible.”
He also added that the firm planned to open at least 12 new stores in 2015, a bold move in the face of online e-book sales' marketshare.
However, the alleged resurgence of demand for physical book stores may not come as a surprise to the firm with Waterstones founder Tim Waterstone claiming in April 2014 that e-book sales are “in decline” and physical books are going nowhere fast.
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