Since the great Amazon-Hachette feud of 2014 started this summer, many people have asked where we stand. It is no secret that we do business with Amazon—almost every publisher does. At the same time, what I see from Amazon, and where I see the book industry heading as a result, worries me.
To me, Amazon is a different animal. It is unlike any other corporation out there because of the way it treats the bottom line. The problem is, Amazon’s bottom line is growth, not profits. In sacrificing profits they have made a conscious decision to sell books at unsustainable prices, undercutting any and all competitors who are still operating under the profit model, which is everyone.
The consequences of this are twofold. First, it puts other companies out of business, straight and simple. We have seen the continual decrease in the number of independent and even chain bookstores over the last several years as Amazon increases its market share.