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I think that the slack from retail bookstores could be re-picked-up by local used bookstores.
I'm sure if the local big box book retailers went out of business, local bookstores would surely at least pick up some stock of the biggest bestsellers for sale.
I like my local used bookstore a lot. It's still where a majority of my money goes to (I hate DRM'd ebooks and used product is much cheaper).
Just like Gamestop - most of its revenue is from used sales - but they still sell new product.
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