Saturday, February 12, 2011
NEW CATALOG SUPPLEMENT TO BE RELEASED TONITE
This one is for "New in Chess" books and my prices beat ALL of Amazon's sale prices and many of the prices being sold from others (who of course add on postage).
I am doing this to clear a lot of inventory, so if you don't get a catalog for whatever reason, just request the NIC catalog.
I knew it years ago, but I persisted thinking other things I did could make a difference, and they do to a small number of people. Some people ONLY buy based on price, further education is beyond their ken. So I am unloading a lot of NiC stuff and my website will have more personal and informational chess product information as time goes on plus be home to the Purdy website and WHOLESALE.
While in Sept. of 2008 Amazon paid off a long term convertible bond of $1.25 billion, they still carry over $400 million in debt and it is mostly on the backs of publishers who put our books up for consignment. As the public doesn't really care about the ethics of selling this way, and looks only at "how cheap is it?" it puts companies such as Borders and little ones like mine, in a precarious position. I can't sit this out forever, so I am acting now.
In order to stay afloat I will introduce products which will not be sold to Amazon or through them. They get as much as 55% off of anything I sell them so they can afford to even low ball my own stuff! Even people I buy wholesale from low ball the resellers they sell to! There was a time when this wouldn't have happened, but that's long gone. So the entrepreneur in me seeks new and possibly more profitable havens such as chess events, chess specialty publications, and things like that. I don't know how some of these chess resellers with employees survive unless it is through credit card debt, putting off to tomorrow because of the fear of looking at their demise today.
Funny thing, I am still selling to overseas retailers!
Amazon.com has some type of algorithm which takes into account inventory, out of print status, what is and is not selling, as well as paying affiliates for sending customers to them. You might notice that in most cases there is little or nothing about the chess books they sell on their site. People can go to my catalogs for that and then order from Amazon. I have run into chess buyers who are REALLY surprised that I know about that! (Oooh, that was so difficult to imagine.)
So here is an opportunity to clean out my NIC inventory. One set of books I have found pretty close to impossible to sell have been the New in Chess Yearbooks which are actually quite good, but I also see my wholesaler practically giving them away! So, in a matter of time, he will lose me as a customer and have to unload more inventory as people struggle to find him. He denies that sales are that significant. If that is true, how does the small amount convert to the RISK of losing loyal wholesale customers? He's an idiot if he thinks this will work.
In the end this may be a blessing. But I do have a lot of "industrial secret" information I have garnered over the years, such as who puts out really crappy books (you can't give them away), who are resellers I wouldn't trust any further than they can be tossed, and worse yet, those who sell stuff and have NO idea what their products contain. There are a lot of them and they use discounts to move their stuff... no marketing skills. NOTHING to help their customer. The average rating of the average customer out there is about 1400 and these people who need the MOST help, get the least, unless they buy from G&L CHESS (me).
Yes, I do have faithful and great customers, I just wish there were more. And they will be treated like Kings and Queens as the year rolls on.
One last note: I have had quite a number of people tell me they wanted to come to the Las Vegas event only AFTER I cancelled it! I announced it, hardly anything happened. In business, I am ALWAYS, always, serious. I'm not out there putting up trial balloons like the politicians do to float an idea. Maybe in 2012. As it is, I have some other ideas, possibly for the summer. I know some will complain, "but hey, I'm thinking of going to the US Open or the World Open." Keep thinking, I have no shares of stock in those. First I will be starting off with a "by invitation only event." This is a good time to sign onto this Blog so I can collate names of interest. Do not dilly dally, time, as they say, waits for no one.