Dymocks will also ramp up its social and digital marketing, Newman said, adding that Booktopia’s announcement had already driven more traffic to its website. “It’s just about making sure we are still visible, present, and we’re there to serve any of those customers who choose to shop with us.”
The average retail price of a book is just over $18, which hasn’t changed in about two decades.
“It is a tough environment … It’s always sad when any business in your industry doesn’t work out. We’re obviously sorry to see what’s happened there,” Newman said.
E-commerce giant Amazon, which began as an online bookseller, but has less market share than Booktopia in Australia in terms of book sales, has been contacted for comment.
The company’s shares will remain suspended during the administration process. Booktopia said questions should be directed to administrators, who have been contacted for comment.
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Robbie Egan, the CEO of Australian booksellers association BookPeople, said the collapse of Booktopia would be difficult for the industry, particularly Australian authors and smaller publishers that relied on Booktopia for sales.
“I feel for people who are impacted. This is a real value destruction exercise…