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Category: Money

Barnes & Noble Bounces Back, Thanks Nook for Sales Shoot-up

Written on August 25, 2010 by Rudfer Tyron

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Hard times have befallen hardcovers, their sales and, most importantly, their sellers. Barnes & Noble knew it would not be spared--it was not--so the head office shelved out its biggest minds for a solution. The Nook.

The huge book retailer released its own e-reading device, , while on the verge of losing its sales to e-Books and to Kindle and the like. concentrated their efforts to increase online traffic affecting . The company did not get disappointed. They are experiencing sales shoot-up as the device itself reduced cost, from $259 to $199 or $149 for its Wi-Fi only version.

Apps for Android and Apple also came in tow after they have increased their profit on the line. When the e-reader got handy for consumers, started accelerating by the week. owners have increased their spending with Barnes & Noble by 17%. Those owners who have never shopped for a digital book on the bookseller’s website roughly composed 25%.

CEO William Lynch took note, “The company made significant strides executing its digital strategy during the first quarter, and all our key metrics on the digital business are well ahead of plan.”

Barnes & Noble claimed that they share 20% of the digital market, even exceeding their share of the retail book market. Competition is not far behind, though, as new rivals like Borders and the forthcoming Copia are coming out to play.

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