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Home > News > PTI

Booksellers pay for Potter's magic

July 08, 2007 17:08 IST

The booklovers are eagerly waiting for final sequence of the Harry Potter [Images] adventure series to hit bookstores across Mumbai, but sellers are worried about too much discount to be offered in the face of stiff competition.

Given the fierce competition in the publishing industry, most booksellers are offering hefty discounts on Harry Potter
and the Deathly Hallows
to customers, thus leaving them with very little margin for profit.

The Magic of Harry Potter

"We are offering a 30 per cent discount on the Indian price of Rs 975, which leaves us with very little margin for
profit. However, we are counting on high volumes of sales, which should make up for it," says P M Shenvi, manager of
Strand Book Stall, one of the oldest book shops in the city.

Penguin India, which is distributing the book in India, is selling it to retailers at 35 per cent discount, industry
sources said. Even then, the book sellers in Mumbai have been forced to offer it at low prices as there is a heavy rush for pre-booking.

Harry Potter's first kiss

Bigger book store chains like Crossword and Oxford have offered clients discount coupons and have planned week long festivities at their stores across India in prelude to the launch on July 21.

However, it is smaller book shops such as Shree Mahavir Book House, located in Fort area of South Mumbai, which have to bear the brunt of the competition.

"We have ordered around 500 copies of the book, but so far we have received only 50 to 60 pre orders. We are offering the book at Rs 685, which does not leave us with much of a margin, but the competition is so much that it leaves us with no choice," says Manager Jagdish.

Is your kid potty over Harry?

Strand book stall on the other hand has ordered as many as 5,000 copies, out of which almost 3,500 have already been
booked, thus giving them the much needed volume in sales.

"I have never seen such a publishing phenomenon. I have small children standing outside my shop at five in the
morning, waiting for the copy. They come, take their copy and start reading in the car itself. It's amazing," says Shenvi.

The seventh and last instalment in J K Rowling's immensely successful series, which paints a fascinating alternate universe full of magic and intrigue, will be launched on the midnight of July 21.

The book has reached top seller lists even before its release, as fans are anxious to know the outcome of Harry's
battle with the evil Lord Voldemort.

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