With the increasing number of book selling entrants, maintaining a customer base is the ultimate goal for most booksellers. Currently, the book selling industry is changing rapidly making it difficult for most companies to adapt. The advent of e-reading has forced most bookselling companies to change strategies to e-book sales through their websites as most readers would prefer a convenient platform for the selection process. Mostly, in the book selling industry, political, economic, social and technological factors significantly contribute to the success and failure within the market.
Political
The popular goal for most bookselling companies is the expansion to several outlets; however, the political situation in various countries frequently affect such efforts. Political factors include the stability of the region and the general rules and regulations related to business operations. For instance, most countries have no regu
...lations for protecting internet users in cases of financial loss during an over-the-internet purchase. In such a situation, most people would refrain from buying products over the web. For companies such as Amazon and Barnes and Noble where online sales are the dominant strategy, expanding out to such countries becomes a challenge until policies for the protection of internet users are developed.
Economic
Besides, the economic power of various regions is a factor to consider for most companies. As much as readers may be many, Amazon and other book selling companies ought to define the current economic situation for a particular country. For instance, due to economic uncertainty most customers could be reluctant in purchasing different products. Unfortunately, economic downturn within the bookselling industry affects both the online and offline sales. In countries such as China, India, and Pakistan where the economic condition
is favorable forms a reliable platform for companies to expand to.
Technological
With the current technological advancements, book selling companies are expected to catch up with new technologies and ensure that online readers receive services efficiently. For instance, the majority of people in the United States have smartphones, compelling companies such as Amazon to develop mobile applications to facilitate such customers. Both Amazon and Barnes & Noble have developed technologically through a constant upgrade on their online platforms such as websites which have provided customers with easier search codes on a variety of products.
Social
It is important to note that various social factors within the book selling industry affect growth and expansion. Social factors are related to the daily lifestyle and culture. As much as the internet usage may be spreading rapidly, purchasing items via the web may not be a culture for most people. This is likely to affect sales in internet based companies. While most book selling companies are upgrading to online selling, some readers would prefer holding a book in their hands. With users preferring soft and hard copies of reading materials, book selling companies ought to work through the challenging factors for the purpose of creating and maintain a loyal customer platform.
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