Should B&N change its name to Nook?

[L.J. Sellers]

Fortune magazine says B&N should change its name to Nook to capitalize on its e-reader brand success, in essence going from "bookstore to Nookstore."
I've never really liked the name Nook, but it makes more sense for a bookstore that hosts little reading nooks in all its stores. But Fortune also thinks B&N needs to downsize its stores and get rid of the non-shelf space. What do you think?

http://tech.fortune.cnn.com/2011/04/...-to-nookstore/

L.J.
(removed promotion - moderation)

[tubemonkey]

Based on a Goldman Sachs analyst report, the Nook business is on a hockey-stick growth curve, with sales going from $62 million in 2009 (the year the device launched) to an estimated $1.163 billion for 2012.

[Catlady]

So I guess Amazon should change its name to Kindle?

[soondai]

Originally Posted by L.J. Sellers

But Fortune also thinks B&N needs to downsize its stores and get rid of the non-shelf space. What do you think?

It's gonna be interesting. But it seems like box stores are still gonna kill them on the best-sellers (using heavy discounts) and Amazon tends to sell the other titles discounted. That leaves them hocking ambiance, and it sounds like they might jettison that.

I'm rooting for them, but honestly I have not bought a book at B&N in several years. I always bought physical books through Borders because they always had a coupon for 30% off or more available, or through Amazon (a lot of used books).

As someone who probably spends around 500 bucks a year on books, I'm probably right in the middle of the bell curve they're aiming at. Probably not a good sign they've gotten 0% of my business. And unfortunately, I don't think these changes will alter that.

[tubemonkey]

Originally Posted by Catlady

So I guess Amazon should change its name to Kindle?

Amazon's not in financial trouble.

[jbcohen]

Depends on how the company wants to be defined. Do they want to be defined by their popular electronic book reader and have customers think only of the reader or do they want people to think of books first rather than the reader. It seems that B&N chose the latter option.

[anamardoll]

Originally Posted by tubemonkey

Amazon's not in financial trouble.

Re-branding doesn't automatically solve financial troubles, though, and can in fact make them worse (i.e., smells like desperation).

I think it makes sense to keep the store name different from the device name. (Although "nookstore" would be an adorable name. Makes me think of soft sofas and warm fireplaces...)

I'm actually really starting to warm to the B&N brick stores. I went years without stepping foot in them at all, and then started again when I bought my Nook. I was surprised to see that they have a pretty robust European games section - when did that happen? Coolness.

I do wish they'd bring back the oversized chairs that they used to have in the store. If I'm going to sample a book in the store with my nook, I need a place to sit down and the cafe chairs are a poor substitute.

[Steven Lyle Jordan]

I agree that B&N should downsize to small (heck, comparatively tiny) stores and even Nook-accessed kiosks. It may not make much difference whether or not they change their name, unless B&N becomes embroiled in some kind of brand-damaging fiasco as it evolves/shrinks/collapses. But they can keep both names and simply emphasize one over the other, i.e. The B&N Nook Store, or Nook Store (a B&N company).

[Anthem]

I shop at B & N all the time (although I don't have a Nook) and would still shop there if they started calling the stores Nook or something similar. Doesn't sound as classy, but that didn't stop Radio Shack!

[fjtorres]

Originally Posted by Steven Lyle Jordan

I agree that B&N should downsize to small (heck, comparatively tiny) stores and even Nook-accessed kiosks. It may not make much difference whether or not they change their name, unless B&N becomes embroiled in some kind of brand-damaging fiasco as it evolves/shrinks/collapses. But they can keep both names and simply emphasize one over the other, i.e. The B&N Nook Store, or Nook Store (a B&N company).

Actually, since there actually will always be room for a couple dozen full-sized regional superstores B&N can keep the current name for those and go with B&N Nookstore for the B. Dalton-sized mall stores they need to evolve into.
The key thing is they need to stop expecting customers to come to them and start going to the customers; moving forward, small and ubiquitous is the way to go.

[tubemonkey]

Originally Posted by fjtorres

Actually, since there actually will always be room for a couple dozen full-sized regional superstores B&N can keep the current name for those and go with B&N Nookstore for the B. Dalton-sized mall stores they need to evolve into.

NookStore ...I like that. They could set up highly polished Apple-type mall stores with an emphasis on digital content via Nook Classics and Nook Colors. In fact, a more robust Nook Color could really eat into the tablet market when aimed at the average consumer. Most people aren't techies, nor do they need high-end tablets for business use. A Nook Color with flash and full access to the various Android app stores is all most people need.

[MaggieScratch]

A Nook kiosk, fully stocked with accessories, and magazines and mass market paperbacks and the latest bestsellers--not unlike an airport bookstore. Also, they can set up a touchscreen kiosk where people can order books the store doesn't carry, with the ability to either come back to pick them up (for free) or have them delivered to their home (for a fee). That would work nicely in a mall setting, with the smaller stores.

In the B&Ns near me* the free wifi is very popular--the cafe is always full of kids with laptops. I don't know if they buy anything, though. Maybe drinks.

*I patronize three different ones--one is near me, one is near where I often shop, and my book group meets at the third.

[GA Russell]

This reminds me of when SS Kresge changed its name to K-Mart. But they did it after the K-Mart stores accounted for much of their profits, not before.

[CHunter_Author]

Don't like that idea at all. Barnes and Noble is a strong name. The branding is not the problem. It's the high costs in overhead running and leasing the physical stores. Lesser stores to concentrate the buyers will be key.