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Book Retailers take a beating
Posted On: 18-09-2009 00:00:00 09

Crosswords has recorded a 10% fall in sales compared to the previous year. Future Group has stalled the expansion plans of its book store format, The Depot. Spencers has shut 4 of its 9 ‘Books and Beyond’ stores. Odyssey, has seen a sales fall of 15% in their standalone stores and 30- 40% in stores located in malls. The company is banking more on its non- books segment as it plans to open more eyewear stores and an independent pen store later this financial year. Non- books account for over 60% of the revenue. According to industry estimates, the organized book retail market is worth around Rs 1,200 crore. Retailers had expected the segment to grow in a range of 20– 25%. However, the actual growth was a disappointing 10%.

 
 
 

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