Myers plans to 'rejuvenate' Waterstone's after 'stifling homogeneity'
29.03.10 | Graeme Neill
Waterstone's is looking at a "rejuvenation" of its brand to reflect the changes made to its range under the retailer's new management team. City analysts got a sneak peek of what the chain's branding could look like on Friday morning (26th March).
During the HMV Group presentation, Waterstone's m.d. Dominic Myers showed a slide of a Waterstone's window display, with a new lower-case logo and the tagline "feel every word". Speaking to The Bookseller after the event, he stressed that both the design and slogan were at very early stages and had not been finalised.
Myers said: "It's important that we re-engage with our customers in a much more impactful way. We would like our new approach to do that by rolling out a new brand through all of our stores in terms of promotional activity and improved branding and messaging."
However, he added stores would not be completely refitted but said some needed "pragmatic issues" changed like improved lighting or bays.
He said: "This is about the core of the bookshops themselves and making the brand reflect the variety of our stores through the books we are choosing to show customers." He added that the bestseller charts seen in stores would now reflect the bestselling titles in those individual stores.
At the presentation Myers told analysts that its stores had suffered from "stifling homogeneity", and that customers had voted with their feet. He also said the chain had been impacted by its "hub inflicted lack of availability", which had undermined its reputation as a range bookseller. But he added that the hub was now delivering, with stock in stores since January at pre-hub levels.
Ben Drury, chief executive of the digital business 7Digital, which HMV purchased in late 2009, said it was developing a new ebook store for Waterstone's that would allow publishers to deliver content straight to its e-commerce site. He added that the group was also "doing a lot of work" on delivery direct to devices.
Comments on this article
By Customer
Well they could have started by spelling "homogeneity' correctly.26 Mar 10 21:57
By SupaChunk
Is this why their 'New Voices 2010' promotion has vanished without trace in the media? Has it got lost in the rush to 'rejuvenate'? A shame, because there are some fantastic debuts on the list. Surely The Bookseller should've covered it - or is there still bad blood between you and Waterstone's over the hub debacle, and the fact Gerry blocked his staff from viewing this site? All very strange.27 Mar 10 13:49
By Someother Bookseller
only one thing of note from me, apart from the fact I'm happy this is happening - I hope they don't change the logo, because I like it as it is. I feel any attempt at 'modernisation' could sell out some the brand's value... but it'd be nice if they let staff in on the design if they insist on changing it.27 Mar 10 23:34
By Logos
This is a re-brandng of a firm that fears that people don't read anymore. They are changing the logo to lowercase to show that they are cool and not stuffy like your old man, i used to like walking around with a waterstones plastic bag, i felt better then other people with smiths bags. it will end in tears,28 Mar 10 14:02
By Logos
This is a re-brandng of a firm that fears that people don't read anymore. They are changing the logo to lowercase to show that they are cool and not stuffy like your old man, i used to like walking around with a waterstones plastic bag, i felt better then other people with smiths bags. it will end in tears,28 Mar 10 14:04
By Mark
I don't want to be "impactfully" engaged! I want a bookshop with a decent selection of books, not just the latest offering by Jordan or Jeremy Clarkson. I want them to be laid out in a logical way with displays that entice me to consider reading something I might normally pass over. A new logo or font won't change anything.28 Mar 10 19:25
By Better Times
There's always going to be a bit of marketing/PR speak at these occasions. What I can say is that from my experience working at the big W, this feels like the most positive time I can remember. Both Dominic Myers and Tim Watson are book people and it seems like the longed for recalibration between central and the stores is heading in the right direction. Early days, of course, but range is increasing already. A lot to do to recover from the days of Mr DIY at the top.28 Mar 10 19:48
By Moomin
Did they get the lower case idea from The Bookseller? It's been a small 'w' on here for ages.28 Mar 10 20:33
By Bookmark
To the naysayers of the redesign of the logo, all I will say is that this is but one small part of the rethinking and repositioning of Waterstones, a brand that has been floundering for many years now. It was a fantastic brand once and could be again with a little hard commercial thinking, tender loving care and positivity. The stores have some of the BEST booksellers in the industry - the staff at Gower Street deserve special commendation if no-one else - although every store I have ever gone into the people there have given their very best to accommodate my queries. The change of a logo signals many things for a brand: it isn't just "change for change's sake" or an attempt to be trendy but rather a clear indication from the management to both employees, competitors, critics, the City and consumers that things ARE changing at the company. A new approach is being thought through and implemented. But one of the dangers that any brand faces is the usual cynics who are have to criticise no matter what positive things are happening, even if 95% of the time it is great, those individuals will naturally enthuse about the bad 5%. I, for one, do not want to see Waterstones disappear from the high street; it has been in my life for far too long so I welcome the changes being made with open arms and an open mind. I think, given how hard the staff have suffered under the past management, it's about time that we all ease ff criticising and "holding grudges" and instead give the management the benefit of the doubt. Good luck to all at Waterstones: you will continue to have my support for as long as you try as hard as I have seen you do over the past few years.29 Mar 10 10:12
By Naysay
Not sure you are right, Bookmark. There are problems in the announced strategy. In competition with Amazon it can't be right to increasing space for non book product. No does it ring true for the md to talk about engaging with Waterstone's customers in a 'more impactful way'.. From a shareholder point of view it might be better for the long term to split Waterstone's from HMV and sort out the problems in private ownership away from the market for a while. The potential of the name is still fantastic and some of its management are very good, but I don't see the best aspirations being fulfilled in this statement. If it were owned by someone who understood and loved it, the whole story might be quite different. HMV don't fill that role, and they have huge strategic issues of their own which are not resolved. The ownership of HMV loves and understands HMV, not Waterstone's. Better to face this, than lose the company in a year or two.29 Mar 10 12:15
By Bookmark
@Naysay - I think you have misunderstood the point of my comment. I realise that there are still fundamental problems at Waterstones, but frankly show me a company where there isn't some degree of lack of consumer understanding and I'll show you the Holy Grail of consumerism. Then again, I won't because there is no such thing; even Apple, that bastion of finger-on-the-pulse-of-consumer-expectation get it wrong sometimes (does anyone remember the Power Macintosh G4 Cube? No, and I think Apple would like to keep it that way since it didn't have any true consumer impact). What I was trying to say was that at some point we - and I include myself in this - need to stop criticising and actually support Waterstones. I can't speak for you but I'm no industry expert although I do run a business (and yes, it is a branding agency) so I can only wonder at how all the hard working Waterstone employees must feel when they read their company being continually put down no matter what the management or anyone tries to do for the better. Two reactions spring to mind from the employees but only one is publishable: "Give us a break!"29 Mar 10 14:05
By johnny irgun
Is it just me or is all this, encouraging as it is,merely a return to the situation in stores re book buying and independant charts and display ideas that I recall from around 5 or 6 years ago?.All before waves of arrogant and shockingly bad business managers took control of Waterstones.I was made redundant last year after 10 years there and took with me my all my considerable book knowledge which although I was happy to use for the companies benefit it was not wanted.Instead of being 2nd best in Internet sales and Top seller heavily discounted low brow books with no profit margin just concentrate on getting good range in and managing stock flows locally efficiently.29 Mar 10 14:33
By Stuart
Bookmark is right. Just remember all that will be left nationally without Waterstones is W H Smith. Not a happy thought.29 Mar 10 14:35
By roy cropper
The reason I don't shop at Waterstone's anymore is nothing to do with their logo, tidiness, or how good their customer service is. All customers care about is PRICE and to a lesser extend availability.30 Mar 10 09:35
By Danny McBride
Roy is the reason there won't be any bookshops on high streets for much longer....30 Mar 10 09:43
By Buff Orpington
Nice to see that they're giving power back to the branches, and to show how serious they are about it: “We are introducing training plans for staff to have the skills needed or to add to those they already have.” The first wave of dehomogenisation KPIs will be isued in May.30 Mar 10 13:01
By Not the blonde witch
They'll need to do a hell of a lot of training, after all they've forced out or go rid of millions of year's worth of Bookseller knowledge and talent over the last 2-3 years. Nothing can replace that, in my humble opinion... Dehomogenisation KPIs?? Haha, thanks for reminding me why I defected to the Indies, Buff!30 Mar 10 14:06
By ex bookseller
yes ex employee is right it is very Books etc. I joined Books etc in 2001. It was a local bookshop very much reflecting the local area and very popular. Then we became Borders, the rest is history, Waterstones take note or........31 Mar 10 11:41
By rubadubrub
Does anyone actually care about Waterstone's anymore? The management don't seem to have given a toss for a while and lets face it the stores are about as inspiring as an armpit. Changing the logo isn't going to save the brand but addressing the ethos and philosophy of the company might go someway to repairing it. Support your local independent instead and let Waterstone's RIP.31 Mar 10 15:37
By Captain Oveur
"Get Dehomogenizing!" Well it certainly works for me....31 Mar 10 23:09
By David J.
I'm not sure that 'feel every word' is better than 'read every word', but the proof will be in how the rebranding is applied and what goes with it. In Oxford at least, I pine for Borders, which used to be open for the after-cinema crowd, with books, mags, DVDs, music and coffee. Then again I also pine for Woolworth - another chain that was both relaxing to visit and with a vast range of stuff, akin to a decent Smarties jar.16 Apr 10 07:28
By Spine-breaking marketeer
Hmmm... Anyone remember the old HMV logo? Amazing what removing a serif can do. Look how well HMV is(n't) performing. I'm imagining that WS worked with the exact same team who did the HMV re-brand, it is virtually identical after all and a completely bog standard attempt. It's not bold, exciting, youthful or innovative. However, it is completely rational that the brand updates itself but let's be realistic about how much that will achieve. It's like a Z list celebrity who people used to quite like getting a facelift, it'll give them a quick injection of youth and maybe 5 minutes in the spotlight but it fades VERY fast if what's under the skin is old, stuffy and tired. Waterstones is an extremely tired brand with tired stores and a slow-moving product but they have to try something and genuinely good luck to them because I'd miss shopping in a library if they were to disappear. This is a classic example of a new person coming in, wanting to stamp their feet and make their mark but probably making little difference. I'd love to know the average age of a Waterstones customer - will they will eventually become extinct?22 Apr 10 00:29
By Voice of the Beehive
Yet another rebrand, yet another endline... these things don't really work when there's a new one every two years or so. One minute Waterstone's (sorry, "waterstone's" - why not drop the apostrophe as well?) are 'The Last Word In Books', then they ask 'What's Your Story?' then it's time to 'Discover Something New' and now we must all 'feel every word'. This is all within the space of six years. Seriously, how does these rebrands actually get through to Waterstone's customers? And how are booksellers supposed to engage with these new identities knowing that there'll be another one along in 18-24 months? Good news about fixing the lights though.24 Apr 10 18:32
By Ash
It would be nice if they spent the money on the stuff rather than cutting hours to pay for it.08 May 10 08:11
