Books and Music make life better and make better humans – indulging in these two hobbies makes one an evolved person. For one of the leading companies into Books and Music, Landmark – in books and music lies the future. The books and music business continues to grow on the back of greater literacy levels and rapidly growing middle class and higher middle class population. Also, with a greater number of people turning into English-speaking middle-class population, and a growing interest in music owing to higher exposure to television, the books and music segment is witnessing an impressive growth in India.
The size of the Indian e-retail industry is poised to be US$ 10 to 20 billion by 2017-2020 – the growth is expected to be led by increased consumer-led purchases in durables and electronics, apparels and accessories, besides the ever favourite traditional products such as books and audio-visuals. Customers see a lot of value on buying these products online as they get a huge variety to choose from compared to offline stores.
Books and Music are offered by online as well as offline retailers. The music, movies and books business contributes significantly to the overall online retail industry in India. As e-commerce grows, and offline retailers are unable to match the huge discounts offered by online retailers, traditional booksellers and music stores are either shuttering outlets or wrapping up.
One significant example is PlanetM, a part of Videocon-owned Next Retail, which has been closing stores since 2012. Due to increasing competition from online stores, PlanetM has adopted a kiosk-based model for expansion which saves lease rentals.
Negatively impacted by the deep discounts offered by e-commerce companies, bookstore chains are increasingly betting on online technologies and reworking their strategies on merchandise mix to increase sales and profits.
The core categories of Landmark, which are books and music, face a new emerging threat in the form of online or internet retailing (also known as e-tailing or e-commerce). Landmark has chosen the strategy of delighting its customers with its wide selection of music and books — the largest in India — even as it explores the rapidly growing technology-enabled entertainment space.
Books, music and gift retailing were the earliest segments that witnessed a consolidation of business into organised formats. Organised retailers like Planet M, Music World, and Landmark dominated the music segment, whereas Om Books, Landmark and Crossword dominate the Books segment. Interestingly, leading online stores such as Amazon and FlipKart started their businesses with the books and music segment only. Some of the leading books and online stores in India (both online and offline) include:
A H Wheeler
Most of the online e-commerce stores such as Amazon, Jabong, FlipKart and Snapdeal have a section dedicated to Books and Music, which are in high demand. Snapdeal entered this category some time back as keeping a robust section on books and music requires a strong supply chain backend.