Time for bookstores to turn the page
CITIC bookstore Brick-and-mortar bookstores have developed steadily in recent years with the help of government support, but the situation changed when 2020 was ushered in by the novel coronavirus outbreak. According to a recent survey by Beijing Normal University of 248 brick-and-mortar bookstores in the capital, more than 56 percent have closed without any immediate plans to reopen. Forty-eight percent of the bookstores said their cash reserves can sustain them for one to three months, while 27 percent said they cannot hold on for more than a month. According to a recent survey by the Printing and Distribution Bureau of the national body in charge of publishing, 90.7 percent of brick-and-mortar bookstores in China have suspended their operations.
Discover Related
15,000 stores will close in 2025... but experts reveal why retail is NOT dying
Macy’s to close 66 stores across the country this year. See the full closure list
US retailers have shut 7,300 stores so far this year, up nearly 60% from 2023
Macy's will close 65 stores within weeks - but not before huge clearance sale
An entire section will disappear from all Costco stores across the US within weeks
Beloved retailer is closing all its physical stores - again
Walgreens plans to close 1,200 stores; its stock price sees a double-digit jump
Bookshop.org launches secondhand book buy-back scheme that will rival Amazon
Leonard Riggio, who forged a bookselling empire at Barnes & Noble, dies at 83
Leonard Riggio, who forged a bookselling empire at Barnes & Noble, dead at 83
Big Lots is set to close up to 40 stores as future of retailer is in doubt
Independent booksellers continued to expand in 2023 even amid slow industry sales
Most beautiful bookstores of the year honored
Most beautiful bookstores of the year honored