What's Old Is Retail News

SAN FRANCISCO—Wouldn't it be convenient if someone had clear, intelligent answers to most of your CRE-related questions? Problem solved. Nina J. Gruen, a.k.a. Ms. Real Estate, a.k.a. the principal sociologist overseeing market research and analysis at Gruen Gruen + Associates, is here to answer readers' questions.

Dear Ms. Real Estate,

I am and always have been a hard cover book lover. I live in Las Vegas, where the long time and beloved Dead Poets Book Store closed, and I was devastated. Then The Writer's Block and several other independent bookstores opened two years ago, and all seem to be doing OK. Is this a Las Vegas phenomenon or is the survival of hard cover and paperback books occurring everywhere?

—Dust Jacket Nostalgist

Dear Dust Jacket Nostalgist,

Over the last several years, there has been a rebirth of both new and existing stores specializing in analog products. While downloading an e-book is both cheap and quick, many readers find that they miss the ability provided by physical books for earmarking pages and writing notes in the margins.

From 2009 through 2015, all bookstores increased sales by 2.5%. During that same period, independent bookstore sales increased by 10%. According to the Booksellers Association, the number of independent bookstores grew 35%, from 1,651 stores in 2009 to 2,227 in 2015. As an independent bookstore lover, you know such stores offer far more than books. In addition to expertise, areas to congregate while frequently being able to get a fresh cup of coffee or glass of wine are all part of the experiential package.

The rebirth of the analog goes beyond books. There has also been a strong resurgence of vinyl records. And guess who the primary buyers are? Music Watch reports half of all vinyl record buyers are under 25 years of age and mostly male. In 2014, more than 13 million vinyl long playing records were purchased, and in the first half of 2015, 9 million – the largest sale of long playing vinyl since 1989. Vinyl records are mainly sold at independent record stores, but can also be purchased in some chain stores like Barnes & Noble and Urban Outfitters. Due to the increasing demand, vinyl sales would be even higher if there was greater production capacity. While new production companies are in the process of increasing production, the demand for vinyl has been far higher than had been predicted. And what surprised Ms. Real Estate is that the price for vinyl LP's like Bruce Springsteen's “Born in the USA” approaches $40.00. Much cheaper in her day.

What's going on? I believe there is a growing need on the part of many of us to take some time off from the digital world. The tangibility of holding a book in your hand or putting a vinyl record on a turntable is a rewarding experience. And it's nice to know that at a time when many physical stores are giving way to the internet, there are book and record stores coming on the market that are setting aside our digital age, at least for a little while.

SAN FRANCISCO—Wouldn't it be convenient if someone had clear, intelligent answers to most of your CRE-related questions? Problem solved. Nina J. Gruen, a.k.a. Ms. Real Estate, a.k.a. the principal sociologist overseeing market research and analysis at Gruen Gruen + Associates, is here to answer readers' questions.

Dear Ms. Real Estate,

I am and always have been a hard cover book lover. I live in Las Vegas, where the long time and beloved Dead Poets Book Store closed, and I was devastated. Then The Writer's Block and several other independent bookstores opened two years ago, and all seem to be doing OK. Is this a Las Vegas phenomenon or is the survival of hard cover and paperback books occurring everywhere?

—Dust Jacket Nostalgist

Dear Dust Jacket Nostalgist,

Over the last several years, there has been a rebirth of both new and existing stores specializing in analog products. While downloading an e-book is both cheap and quick, many readers find that they miss the ability provided by physical books for earmarking pages and writing notes in the margins.

From 2009 through 2015, all bookstores increased sales by 2.5%. During that same period, independent bookstore sales increased by 10%. According to the Booksellers Association, the number of independent bookstores grew 35%, from 1,651 stores in 2009 to 2,227 in 2015. As an independent bookstore lover, you know such stores offer far more than books. In addition to expertise, areas to congregate while frequently being able to get a fresh cup of coffee or glass of wine are all part of the experiential package.

The rebirth of the analog goes beyond books. There has also been a strong resurgence of vinyl records. And guess who the primary buyers are? Music Watch reports half of all vinyl record buyers are under 25 years of age and mostly male. In 2014, more than 13 million vinyl long playing records were purchased, and in the first half of 2015, 9 million – the largest sale of long playing vinyl since 1989. Vinyl records are mainly sold at independent record stores, but can also be purchased in some chain stores like Barnes & Noble and Urban Outfitters. Due to the increasing demand, vinyl sales would be even higher if there was greater production capacity. While new production companies are in the process of increasing production, the demand for vinyl has been far higher than had been predicted. And what surprised Ms. Real Estate is that the price for vinyl LP's like Bruce Springsteen's “Born in the USA” approaches $40.00. Much cheaper in her day.

What's going on? I believe there is a growing need on the part of many of us to take some time off from the digital world. The tangibility of holding a book in your hand or putting a vinyl record on a turntable is a rewarding experience. And it's nice to know that at a time when many physical stores are giving way to the internet, there are book and record stores coming on the market that are setting aside our digital age, at least for a little while.