You’ve probably seen the news that Borders, which employs about 10,700 people, will be closing all of their stores for good. As consumers turn more and more to online book sellers and e-books, I suppose this doesn’t come as a huge surprise. But, could a brand renovation strategy have saved this brand? Major shifts in technology can leave brands in the dust…see Polaroid. Yet other brands seem to be able to anticipate these major changes and adapt their brands in credible ways to meet changing consumer behavior.

Barnes & Noble, while probably still at risk with brick and mortar locations, has at least been aggressive in their e-commerce offerings and the marketing of their branded e-reader, the Nook. They are in a better position to survive given this ongoing sense of brand renovation.

It certainly can’t be an easy thing, but sometimes major, ginourmous brand renovation is required. Technology obviously changes quickly, but major innovations and consumer adaptation is very real and fairly long-lasting. Similar to Borders, Blockbuster got caught with an outdated, bricks and mortar concept.

Keep an eye on the horizon and fully understand changing trends, and be prepared to renovate – sometimes in a small way and sometimes in a big way. Now, let’s hope at least the small, independent neighborhood bookstores will survive. As much as I love the Kindle, I plan to honor the hardcover by stopping by a local bookstore and picking up a good summer read.



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