Dear Booksellers,

While I don’t know all of the details of the newly announced Macmillan reorganization yet, I think the idea of dismantling the traditional organizational chart to make room for diverse perspectives in the decision-making process, plus the idea of thinking in entirely new ways about how we run our businesses, are absolutely the kind of disruptions our industry needs. It’s hard to do when many bookstores are in survival mode, but these new ways of thinking about your stores are already happening out of necessity, creating opportunities to take that new thinking even further.

Here are some of the things that I’ve been reading as I think about this topic:

• A great interview about “surrogate shopping,” how curbside pickup is here to stay, and the ways that retail has been disrupted by COVID-19.

• An interesting article about the economic impact of COVID. From a business perspective, here’s an important takeaway: Recovery isn’t significantly linked to the timing of various states’ reopenings, but rather to the degree to which higher-income households feel safe enough to go out and shop. How are you making sure your staff and customers are safe and feel safe? The latter may be more challenging than the former, in some ways. As usual, listening, communication, and transparency are key. Helping your booksellers feel safe starts with support and resources.

• This analysis of the impact of COVID-19 on the retail sector examining some of the current trends, such as customers being more likely to switch store and brand loyalty due to “proximity, availability, ease of use, and safety considerations.” As an example of this, stores may see some customers be less understanding about delays and out-of-stock books and be quick to take their business elsewhere. How can bookstores mitigate that risk? When an antiracist book order is delayed because a title is out of stock, is the communication an email to the customer that their book has been delayed? Or is it a marketing campaign that includes a preemptive “thank you for keeping your business with us and waiting for the order,” a “thank you for supporting not only independent bookstores but antiracist education,” an explanation of how cancelling orders hurts your business, and a list of “while you’re waiting” alternative titles that are in stock and links to resources? In general, how are you acknowledging and rewarding loyalty? How are you inspiring it?

• And a great example of thinking about things differently can be seen in South Main Book Company’s response to a boycott.
  

Advocacy

• June 30 Deadline for Paycheck Protection Program (PPP): If you have not yet applied for a PPP loan and are still interested, the last day a PPP loan application can be approved is next Tuesday, June 30. There are still PPP funds available. The Small Business Administration (SBA) announced an online tool dedicated to matching small businesses with smaller asset lenders like Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs). Learn more here.

• Updated PPP Loan Forgiveness Information: ICYMI, ABA updated the PPP loan forgiveness article on June 17 to reflect new changes to the program. Notably, there are now two forgiveness applications, one of which is a “simple” application for certain borrowers and one of which is more involved. Learn more here.

• Economic Injury Disaster Loans (EIDL) Reopen: ICYMI, the SBA reopened the Economic Injury Disaster Loan (EIDL) portal on June 15. If you have not yet applied for EIDL, now is the time. Businesses that apply are also eligible for an up to $10,000 grant ($1,000 per employee up to $10,000). The loan has a maximum term of 30 years and an interest rate of 3.75 percent for small businesses. Apply here if you haven’t already.

Events

• A space for BIPOC members (both owners and booksellers): July 2 at 6:00 p.m. ET. For connection. For support. For community. For resources. For networking. For whatever attendees want this to be. (To ensure that this space belongs to the attendees, this will be a non-hosted event without an ABA facilitator or staff person present.) Booksellers interested in attending should email [email protected] for the Zoom information. 

• Finances During COVID: This coming Tuesday’s regular Coffee Break, on June 30 at 3:00 p.m. ET, has been reprogrammed as “Finances During COVID.” ABA CFO PK Sindwani will hold a Q&A session for members around financials and determining post-COVID benchmarks. Due to antitrust guidelines, finances specific to individual stores should not be disclosed during the session. Store owners who would like to discuss specifics can email [email protected] to schedule a time for an individual call.

• Virtual Children’s Institute: These two days of virtual programming (July 15–16) include a panel on representation in young adult and middle grade sci-fi and fantasy; a panel on using your store voice to drive online sales and reach new customers; a presentation of the Indies Introduce debut titles for young readers; IndieCommerce one-on-one meetings; and publisher rep picks presentations. (The antiracist training is full.) All for $20. Register for Children’s Institute and please help us spread the word about this opportunity for education and support to other booksellers.

• Marketing Meetup: On July 2 at 1:00 p.m. ET, learn about “Marketing Ideas From Small Stores.” In this session, you’ll hear from six guest speakers from small bookstores, who will share what works for their stores in a variety of marketing areas, including social media, newsletters, events, and general marketing. Registration is required.

• Technology Meetup: On July 9 at 1:00 p.m. ET, learn about “Cyber Insurance.” The team from Arrowhead General Insurance Agency will present information on cyber coverage and how this coverage can protect your bookstore. Registration is required.

• Technology Meetup: On July 30 at 1:00 p.m. ET, learn about “Zoom.” Earlier this month, publisher Wiley offered to send copies of Zoom for Dummies to independent booksellers free of charge upon request. Now, Wiley has gone a step further to work with ABA and Zoom for Dummies author Phil Simon to set up this Technology Meetup, during which Phil will provide his expert advice on Zoom, including best practices, tips, and answers to some commonly asked questions. Registration is required.

ABA is here for all of you. Please reach out if there is anything we can help with. 

Best,
Allison