Amazon announced that it has a new Kindle textbook rental program for college students. This is another reason why consumers should not walk into another brick-and-mortar bookstore to buy books. The announcement came out the same day Borders bookstores said that it has filed for bankruptcy. The bookstore chain blamed the changing book industry as well as the economy.
A poll made last October showed that 63 percent believed that ebook readers have decreased the profits of print books while 22 percent of book sellers believed that ebook readers decreased their sales. 70 percent of those surveyed said that ebook readers would affect the sale of new books than used books.
Amazon’s new textbook rental program lets the students save all the notes and highlighted contents from a rented book and access them in the future. Online book sellers view textbook rental companies as their fierce competitors.
Barnes & Noble said that it is struggling to survive as consumers buy three digital books for every physical book. This is the reason why the company is trying to reinvent itself into a vendor of book downloads, reading apps and devices. Every retailer is faced with the same problem and they have to adjust to the changing technology in order to survive.
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