But now a new HarperCollins imprint, wants to change the traditional agreement and Borders has agreed to the new terms. This could be tricky for the booksellers and it will be interesting to see if the new agreement is just the first of many new ones between publishers and the big chains.
According to Minyanville, the new deal works this way:
Borders Group will get a discount of 58% to 63% off the cover price on initial orders from the publisher, a new imprint of News Corp's (NWS) HarperCollins. Typically, the discount is about 48%.As someone being forced to keep a tighter than usual watch on my spending right now, I know that I'll be tempted to buy new books later than usual in hopes of picking up a bargain by waiting. This sounds like a good change for the publisher - and a huge amount of risk being placed entirely on the shoulders of the bookstores.
Under the deal, Borders won't return unsold books to the publisher. This could be a gamble, because an estimated 30% to 40% of adult titles are eventually returned to the publisher.
The new agreement may mean remainder bins filled with steeply discounted books will be sittng next to bestsellers, or at least tucked away in the back of the store.