I’m a knowledge geek, I can’t stop learning new things. My favourite way of learning is to read, read and then read some more, before seeking out other people I can discuss the topic with. As such my first step is always to buy a number of the best books on a topic.
Normally I start on Amazon, I search for books on the topic, find the ones that: are new; have a good review or are suggested in reviews of other books. Then I start gathering together a list of three to five likely candidates, enough to immerse me in the topic for a week or two. Unusually the on-line reviews weren’t sufficient for me to determine which books I wanted this time so I decided to pop into Waterstone’s and see if I could flick through a copy first.
In Waterstone’s I found one of the books and decided it was worth buying, but unfortunately it was totally devoid of a price, so I stood in line and asked the cashier for the price. She scanned it and told me it was £21.99. I looked visibly shocked. I’d just been looking at the same book on Amazon for £10.99 and while I did expect to pay a premium in a high street store I didn’t expect it to be quite so high!
I mentioned this to the cashier, after all you might as well try to get them to negotiate/price match and sure enough there was a solution. I could buy the same book from the Waterstone’s website for £10.99. Great I said I’ll buy it from you now, but at the price quoted on the website. “Sorry you can’t do that” she replied, “but you can order on-line and have it delivered to the store for collection”. Which strikes me as rather silly, I order online and they send another copy of the book (that’s currently in my hand) to the store, but the other copy is somehow worth £11 less to me that the one I’m currently holding.
Needless to say I walked out and ordered the book (and several others) from Amazon, after all I have an account with Amazon. I have a relationship with them, hell they’ve even sent me Christmas presents I spend so much with them. So why would I go to the hassle of learning to use Waterstone’s website, creating an account and then wondering if I can trust them to deliver the book when I want it, instead of returning to my trusted Amazon?
It seems that Waterstone’s doesn’t get it. It seems to me that they think their on-line store competes with Amazon and their off-line stores doesn’t, otherwise why the disparity in prices? Yes I know, a high street store has higher costs than an on-line retailer. The trouble is I as a customer don’t care about your costs, I care about the value you provide me and the high street store has not added nearly 100% value to the book. Personally I’d be happy to pay more on the high street for the value in having the book now, however as Amazon can normally get me a book within 12 to 24 hours it’s not a very high premium, certainly not 100%.
After this experience I doubt I’ll buy from Waterstone’s again and my love affair with Amazon continues.
This blog is about business opportunities and ideas that I spot, think of or hear about and think are useful and interesting. It is intended to provide ideas and inspriation for you to help you find the right business idea for you to then grow it into a successful business.
Yes! Waterstones just doesn’t get it.
I ordered a book from their website for a great price, but when I turned up at the store, it hadn’t arrived yet. However, they wouldn’t let me have the one which they had on the shelves, which was about £8 more!
The cashier suggested that I buy the one on the shelf, then come back to return it after the one I ordered online had arrived!!!!
Chris,
That’s shocking. In this day and age I just don’t understand how businesses manage to be this bad.
This is a classic example of how employees are not empowered to what they need to do to please their customers and make them loyal… for life.
Thanks, Jason M. Blumer
As far as I know Waterstones is owned by HMV and they have the same policy. The reason why I think they do that is because I think that the online store is licensed to or owned by a different company.
I agree with you, but equally it’s quite funny that I’m willing to pay more in Borders sometimes because of the comfort of having a coffee shop, comfy sofers, air con and so on. Somehow Borders is a “destination” like Amazon is online, while Waterstones is “just a book shop”. However even at Borders I’d reconsider if the price difference was that great - luckily I can check on my Palm Treo to see the cost on Amazin while I’m out
August 10, 2008 Edition…
Welcome to the August 10, 2008 edition of corporate vigilance edition of Corporate Vigilance presenting an array of opinions, instruction, and helpful information as it relates to business and personal finance….
[...] your customers want and how you’re doing in delivering it to them. John Crickett relives a story about a local bookstore that clearly does not live this by [...]