Barnes & Noble has undergone a transformation in recent years – with new leadership and a strategic shift towards smaller, more localized book stores.
But how have these changes impacted the chain’s performance? We dove into the data to find out.
Title Page: A Solid Visit Performance
Since November 2023, Barnes & Noble has experienced consistent YoY visit growth. Only in January did foot traffic dip into the red – likely a result of the unusual cold snap that weighed on retailers nationwide.
Like many booksellers, Barnes & Noble does a significant share of its yearly business during the holiday shopping season, when people flock to bookstores to buy gifts for loved ones. So the chain’s impressive YoY performance in November and December 2023 offers an especially promising sign of its positioning going forward.
Foreword: Turning A New Page In Denver and Chicago
Barnes & Noble boasts more than 600 stores across the country, and after several years during which it shuttered locations, the chain has begun to expand once again. The company recently acquired Tattered Cover – a Denver-based independent bookseller, which Barnes & Noble will continue to operate under its existing name. And the Chicago area is getting five new Barnes & Noble locations this year.
Examining the visitation patterns and characteristics of Barnes & Noble’s existing visitor base in these CBSAs highlights the bookseller’s growth potential in these regions. In both CBSAs, the chain experienced positive YoY foot traffic growth in early 2024. Barnes & Noble locations in both CBSAs also drew customers from areas with higher median household incomes (HHIs) and greater shares of families with children than the chain’s nationwide baseline – two groups that may be particularly likely to frequent bookstores.
Chapter One: Nationwide Presence, Local Flavor
One key factor that has powered Barnes & Noble’s growth trajectory is its emphasis on curating local, independent bookstore feel in its stores. This approach allows individual store managers autonomy in decision-making, and emphasizes stocking local authors and hosting community events.
And diving into the psychographic characteristics of Barnes & Noble’s visitor base in these two expansion markets reveals that, while visitors share some similarities across different geographical regions, they also have unique characteristics.
For example, the Experian: Mosaic dataset identified higher shares of “Singles and Starters” and “Promising Families” in the trade areas that feed visitors to Denver-Aurora-Lakewood Barnes & Noble locations. Meanwhile, stores in the Chicago-Naperville-Elgin tended to attract visitors coming from trade areas with higher shares of “Power Elite” residents.
Local stores can harness these insights to effectively curate a retail experience that resonates with their customer bases: Denver-area Barnes & Noble locations can actively court young families with children or singles who are starting out in their careers. On the flip side, Chicago-area stores can curate offerings to resonate with their more affluent customer base.
Epilogue: Bookstores Are Still Thriving
Barnes & Noble is demonstrating how to maintain relevance in a world dominated by Amazon. By creating an experience that satisfies book lovers' craving for an independent bookstore atmosphere, the company is thriving.
Will Barnes & Noble sustain strong visitor numbers while maintaining its local charm?
Visit Placer.ai to keep up with the latest data-driven retail insights.
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