Hachette Book Group (HBG) has announced a new Retail Bookstore Marketing Program (MP) that will make its co-op more accessible and easier to use. Under the new plan, brick-and-mortar bookstores in good standing with HBG that carry a full line of HBG products will be able to earn Marketing Program quarterly credits for direct purchases and annual credits for indirect purchases closer to “real time.”
Said Evan Schnittman, executive vice president and chief marketing and sales officer at Hachette, “I am very excited that our sales team can roll out such a progressive in-store marketing program. By dramatically reducing the onus of paperwork for our retail partners we hope to free them up to do what they do better than anyone else, sell quality books to consumers all across America.”
ABA CEO Oren Teicher said, “We welcome these changes from Hachette that make it easier for booksellers to claim co-op. When it becomes easier for booksellers to promote and sell books, all industry stakeholders — publishers, authors, and bookstores — benefit.”
For direct purchases from HBG, stores will earn a quarterly credit based on the percentage of aggregate net sales amounts during the 2013 Sales Year (4/1/13–3/31/14) as follows:
- Grand Central Publishing and Hachette Nashville imprints: four percent of aggregate net purchases of print books and physical audio for the first million dollars and three percent in excess of one million dollars
- Little, Brown, Little, Brown Books for Young Readers, Orbit (including Yen), and Redhook imprints: four percent of aggregate net purchases of print books and physical audio
Credit for direct purchases in one quarter will be calculated and issued by the end of the next quarter.
For indirect purchases, accounts will earn a credit of three percent of the aggregate net sales amounts during the 2013 calendar year. Indirect purchasing reports for the 2013 calendar year will be due by 2/28/14; credit will be issued by the end of the fiscal quarter April 1 to June 30, 2014.
If accounts choose to claim credit for indirect purchases, both direct and indirect funds will be three percent of aggregate net purchases of print books and physical audio.
To participate in the program, stores are expected to implement marketing for at least one HBG title for each of the six imprints per quarter. Specialty or genre stores can coordinate an alternative plan with their sales rep in order to meet the requirements.
A checklist of promotional options is available, and bookstores are required to complete at least one checklist per quarter and remit within 15 days of the close of the quarter.
The sales year quarters now coincide with HBG publishing seasons (April–June, July–September, October–December, January–March).
Additionally, stores are eligible to receive quarterly newsletter credits of $25 per title featured (with a maximum of $250 per imprint) as well as author event credits of $250 for each event coordinated via HBG.