Fred Bass, president of New York’s venerable Strand Bookstore, the used-book emporium founded in 1927, knows the challenges. When the Strand opened, it was among dozens of bookshops along Manhattan’s Fourth Avenue, known as “Book Row.” Now, in its location nearby at 828 Broadway, it’s the only one left.
The Strand has survived by being creative. It has a thriving market in art books and advance editions. It has a strong presence on the Internet. During Borders’ liquidation, the Strand reached out to Borders Rewards customers, honoring their discounts. After years coping with rent hikes and changing demographics, the store bought the building.
Bass still works the floor, a stocky man wearing a protective back brace and bold name tag, ready to answer questions from customers. That personal touch is the key, says his daughter and store manager, Nancy Bass Wyden.
“People want the tactile experience. They want the treasure hunt,” she said.
“You try to keep some of the mystique of the old bookstore, but adapt,” added Bass.
Indeed, bookstores today are dealing with challenges from technology and distribution, much like the music and newspaper businesses. They face competition from e-books, retailers such as Target and Walmart, and a variety of entertainment options unheard-of when the first Borders opened in 1971.