Many news articles suggest the problems Borders has faced are directly related to their not embracing electronic books quickly enough. Companies that refuse to incorporate new technologies often find themselves unable to compete, as the new technologies come to dominate their industry. Electronic books are becoming increasingly popular and the hard copy book industry will need to continue finding ways to move forward, or we will see more bankruptcy and store closings for book purveyors.
One of the best applications for electronic books is their incorporation into the textbook market. When textbook publishers begin to make electronic versions of their products, they will be furthering their market, despite any initial resistance.
As it stands now, the people who make the most money off college textbooks are bookstores. This is almost entirely due to the used textbook market. When you buy a used textbook, the money from that sale is split between the bookstore and their source of used books. None of that money goes to the publisher or the authors. The used textbook practices are the reason why textbooks are so expensive in the first place. Electronic book sales are a way to reduce the cost of textbooks and make sure that the publishing houses and authors are the people who get paid.
The overhead publishing of electronic books has to be cheaper. There are no printing costs. Electronic textbooks are just plain cheaper to make and easier to manage. They can be updated from edition to edition without having to reprint another book. Publishers also will not feel it necessary to print new editions without new information, because they will see a proper portion of the profits from the books sales.
The real issue with creating an electronic textbook market is the number of people who do not have the devices to read them on. The solution to this problem is in the creation of a new electronic market. Much of the savings from creating a better textbook selling system gets passed on to the consumer. If textbooks were less expensive electronically, students could take the savings and buy the devices needed to read their new electronic textbooks.
The real losers in this proposal are the used bookstores. These bookstores would have an issue keeping their doors open. While their misfortune is tragic, it would not justify keeping them around if they refuse to integrate technology into their business, an idea that would ultimately save students money.
The practices of these bookstores are to blame for the rise in textbook prices that has gone far past keeping up with general inflation. Very soon, alternatives will be made available, and these stores will do better if they have a plan to be a part of the solution and no longer a part of the problem. Otherwise many of them are going to find themselves joining the staff of Borders in the unemployment line.
