13-DIGIT ISBN APPROVED
 
The big news in the book biz this week is that the ISBN may be getting a little longer.
 
Members of the Book Industry Study Group (BISG) unanimously approved a policy statement Sept. 18 that endorses a 13-digit ISBN as proposed by the International Organization for Standardization, with an implementation date of January 2007. The statement also called for the Bookland EAN barcode to replace the price-point UPC where it is currently used on books and book-related products effective Jan. 1, 2005.
 
The policy also recommends that companies in the publishing industry become compliant with the Global Trade Identification Number (GTIN), which would allow trading partners to specify packaging information when placing electronic orders.
 
“BISG is excited to fulfill its mandate of providing a forum and process for the creation of industry consensus on key issues,” said BISG executive director Jeff Abraham. “We will continue to work with all industry sectors to educate the various parties and assist with the implementation of the policy.”
 
The 13-digit standard will make it easier for book publishers to communicate electronically with trading partners in other industries around the world, which are already using EAN bar codes for many products. Bookseller giant Barnes and Noble is one of the big supporters of the change.
 
As with other voluntary standards, the timing and specific details of implementing the new policy will be determined between and among trading partners. The complete policy statement is available online at hppt://www.bisg.org/docs/BISG_policy_001.pdf.
 
Sources: Bookselling This Week, Sept. 25, 2003, and Publishers Weekly Daily.
 
TIME WARNER DROPS ‘AOL’ FROM COMPANY NAME
 
The board of AOL Time Warner voted Sept. 18 to drop the letters “AOL” from the company’s name. The move marks a realization of the failure of the largest merger in U.S. history. The company will revert back to being known as Time Warner Inc. as it was before the January 2000 merger.
 
“We believe that our new name better reflects the portfolio of our valuable businesses and ends any confusion between our corporate name and the America Online brand name for our investors, partners and the public,” chief executive Richard Parsons said in a statement.
 
The name change, which will be phased in over the coming weeks, will also affect the name on the company’s new headquarters building in Manhattan.
 
Source: Yahoo! News, Associated Press, Business Wire, Sept. 18, 2003.
 
STUDY: ONLINE PRICING AFFECTS SALES
 
An economic study regarding online price elasticity released last spring suggests the old adage that the higher the price, in this case of online sales, the fewer the sales. The April 2003 study “Measuring Prices and Price Competition Online: Amazon and Barnes and Noble,” Judith Chevalier of the Yale School of Management studies Amazon and BarnesandNoble.com at three points in 2001 in an effort to discover how price impacted sales.
 
“We show that there is significant price sensitivity for online book purchases at both sites,” the study said. Data was collected during three separate weeks in 2001 on about 18,000 different books at both sites. The study showed major price changes by both sellers during this time. Both sites flirted with discounts, free shipping for various items, and other price changes.
 
Though price structures proved important, the study noted that demand at Barnes and Noble’s site is far more price sensitive than at Amazon. For example, when Barnes and Noble raises its price by one percent, sales decrease by four percent; at Amazon, the same increase only results in a half percent sales decrease.
 
Chevalier conducted the study with Austan Goolsbee of the University of Chicago Graduate School of Business.
 
In an unrelated report, Barnes and Noble made a profit in 2002, compared with Amazon’s loss, and its revenue is 25% higher than Amazon’s, however this study is including B&N’s chain stores profit. Amazon’s earnings per share for the first half of 2003 were 17 cents narrower than the previous year.
 
Source: Bookselling This Week, Sept. 24, 2003 and Forbes.com, Sept. 8, 2003.
 
FREIGHT RECESSION MAY BE OVER
 
The three-year freight recession that has dogged trucking companies since 2000 may finally be over. Carriers are seeing strong monthly demand in consecutive months for the first time in three years. Shippers, finally flush with freight from the long-dormant manufacturing economic sector, are bombarding some trucking fleets with business.
 
The upsurge is good news for truckers, who finally can fill trailers with good paying freight. It’s not so good news for shippers, who may face increasingly aggressive rate hikes from carriers, who gave gone through three years in recession.
 
Source: ‘We Have a Recovery,’ Southern Motor Freight Carrier News.
 
JULY BOOKSTORE SALES DOWN
 
Bookstore sales were down in July, coming in just under the total for the corresponding month last year. The drop comes off a slight gain in sales the previous month. July sales of $1,130 million were 0.9 percent lower than last July’s $1,140 millon. Overall retail sales of $325 billion for July were 5.5 percent ahead of the $308 billion in July of last year.
 
Several book categories, including adult trade, children’s/YA hardcover, audio and religious books posted significant gains in July according to the Association of American Publishers. Adult trade hardcover sales posted an increase of 40.2 percent, with sales of $71.4 million for the month. Children’s/YA hardcover sales are up 73.9 percent in July ($49.8 million), although the youth paperback category dropped 25.5 percent.
 
Sales of audio books rose dramatically in July, up 91.3 percent ($13.7 million). Religious books rose 32.9 percent, with sales of $20.5 million.
 
Source: Bookselling This Week, Sept. 16, 2003 and ‘Book Sales Strong in July,’ Amy Gwiazdowski.  Association of American Publishers Online, Sept. 16, 2003.
 
TECH BOOK SALES SLUMP
 
While consumer spending on technology is finally on the rise following the economic slump, overall sales in the computer/technology book category continue to slump or remain flat for U.S. booksellers.
 
At Stacy’s, a general-interest bookstore in San Francisco, the computer/tech category has been hit the hardest by the prolonged economic downturn, according to buyer Lauretta Cuadra. During the late 1990s, computer books accounted for 30 percent of the store’s book sales. Today, tech titles represent less than 20 percent of store sales.
 
Macintosh titles and graphics-related books (such as those on Adobe Photoshop) are selling well. E-bay related titles are also selling well.
 
Source: ‘Booksellers Fight Tech Slump,’ James A. Martin, Publishers Weekly, Sept. 15, 2003.
 
 HOLIDAY RETAIL SALES LOOK GOOD
 
Total holiday retail sales are projected to grow by 5.7 percent over last season, bringing holiday spending to $217.4 billion according to the National Retail Federation. Holiday sales last year increased 2.2 percent to $205.6 billion, making up 22.7 percent in total yearly retail sales.
 
The NRF defines “holiday retail sales” as sales in November and December for retail stores in the GAFS category: general merchandise stores, clothing and clothing accessories stores, furniture and home furnishing stores, electronics and appliance stores, and sporting goods, hobby, book and music stores.
 
Source: Strang Communications
 
BIBLICAL SCHOLAR DEREK PRINCE DEAD
 
Author and biblical scholar Derek Prince died in his sleep Sept. 24 at his home in Jerusalem. His death was attributed to heart failure following a prolonged period of declining health. Prince wrote more than 45 books, including “Shaping History Through Prayer and Fasting” (Whitaker House) and “The Spirit-Filled Believer’s Handbook” (Charisma House), which have been translated and distributed worldwide in more than 60 languages.
 
Prince is survived by 11 children and an extended family of more than 150 people.
 
Source: Strang Communications.
 
HAGIN, FATHER OF MODERN FAITH MOVEMENT, DIES
 
The Rev. Kenneth E. Hagin, founder of Kenneth Hagin Ministires, died in Tulsa, Okla. Sept. 19. Hagin, 86, collapsed at his family’s breakfast table and later died. Known as the “father of the modern faith movement,” Hagin’s ministry reach was worldwide. Kenneth Hagin Ministries’s weekly television program, “Rhema Praise” and a radio program, “Faith Seminar of the Air” were seen or heard by thousands each week. On the publishing side, his Faith Library Publications has more than 65 million books in print, and “The Word of Faith” magazine has nearly 250,000 subscribers. 
 
Source: Strang Communications
 
 BUSH TELLS ‘GQ’ HE READS THE ‘ONE YEAR BIBLE’
 
A feature article in the September issue of GQ magazine says that President George W. Bush regularly reads the “One Year Bible,” from Tyndale House Publishers. The report said that Bush was given the Bible by secretary of commerce Don Evans several years ago when the developed a friendship in Midland, Texas. Evans has encouraged the then governor of Texas to read his Bible regularly.
 
The “One Year Bible” features daily readings of verses from both the Old and News Testaments.
 
Source: Strang Communications
 
BIBLE FACTORY OUTLET RELOCATES SMITHFIELD, NC STORE
 
Bible Factory Outlet announced Sept. 16 that its store in Carolina Premium Outlets (Smithfield, NC) recently moved to a permanent location within the center. The store has moved to Space #30, two stores down from Liz Claiborne.
 
Carolina Premium Outlets is located at the intersection of I-95 and Exit 95 on Industrial Park Drive in Smithfield. Store hours are Monday through Saturday, 10 a.m. to 9 p.m. and Sundays 12-6 p.m. Phone number is (919) 938-2226.
 
Bible Factory Outlet, headquartered in Albertville, Ala., is the dominant outlet based retailer of bibles, religious and inspirational books, music and gifts in the United States.
 
Source: Tony Smith, VP of Marketing, Bible Factory Outlet
 
HASTINGS ENTERTAINMENT TO EXPAND
 
Hastings Entertainment, the multimedia retailer with nearly 150 stores in the West and South, is on schedule to open five new stores and expand or relocate 17 existing stores by the end of January. Stores opened since last October in Montrose, Colo., Dumas, Tex., Mount Pleasant, Tex., McMinnville, Tenn., Artesia, N.M., and Lubbock, Tex. In the same period, Hastings also expanded or relocated nine stores and closed three stores it called “underperforming.”
 
Source: Publishers Weekly Daily, Sept. 22, 2003.
 
A NEW WAY TO FLIRT
 
According to a new survey, flirting with colleagues, scheming against the boss and gossiping about co-workers are among the most common uses of Instant Messaging (IM) around the office. So-called IM-ing, the act of sending quick message exchanges to other Internet users, has become a popular workplace habit.
 
As with e-mail before it, IM has been embraced by corporations as it enables co-workers in large organizations to converse quickly and cheaply. But because it cannot be monitored, workers feel free to fire off messages ranging from jokes about someone’s hair to sensitive information about major corporate projects.
 
The preponderance of personal chatter leaves companies open to sensitive corporate leaks and even lawsuits.
 
And, gee, we thought it was all in good fun.
 
Source: Yahoo! News, Reuters, Technology, Bernhard Warner, “Forget Work, IM is for Scheming, Flirting, Gossip.” Sept. 15, 2003.