Money Matters, Simplified.
Amazon’s Kindle to be sold in Target stores
by Jamie Anderson - April 22, 2010 - comments
Fifteen years after trying to persuade consumers not to shop in brick-and-mortar stores, Amazon will look forward to its association with one such physical establishment, Target Corporation, to boost the sales of Kindle.
Come April 25 and Amazon.com’s (NASDAQ: AMZN) radical wireless reading device, Kindle, would be available, for the first time ever, at a brick-and-mortar set up.
The largest online retailer’s best selling product would be up for grabs at the Minneapolis store and 102 South Florida stores of retail chain, Target Corporation (NYSE: TGT).
Target is perfect fit for Kindle
Steve Kessel, senior vice president of Amazon Kindle, expressed happiness on the deal with Target and said that the latter’s reputation for excellence and value would make it a perfect fit for Kindle.
"We're excited to be working with Amazon to help even more readers discover Kindle, in-store only at Target," senior vice president of Target, Mark Schindele, said of the tie up.
"We strive to enhance our product offerings to include surprising products and services at great values so we're proud to be the first brick-and-mortar retailer to sell Kindle, allowing our guests to feel how lightweight and easy on the eyes Kindle is," noted Schindele
By roping in the U.S. discount retailer in its distribution network, Amazon intends to take competitors like Apple Inc., and Sony Corp head on.
If the data available with Credit Suisse Group AG is anything to go by, Amazon.com enjoys a whopping 90 percent share in the e-book industry.
Hitherto available exclusively at Amazon.com, Kindle will retail for $259 at Target stores now. The potential buyers will get to see and touch the e-reader before they dole out the money for it.
Competition to intensify
E-readers from Sony are already obtainable at some 10,000 U.S. retail stores, including Target. Staples Inc. and Costco Wholesale Corp. are the other prominent retailer, which sell these readers.
Apple’s launch of iPad, which lets users browse the Web, watch videos and read digital books, is likely to heat the competition even further.
If the data available with Credit Suisse Group AG is anything to go by, Amazon.com enjoys a whopping 90 percent share in the e-book industry.
New and innovative device launche from the likes of Apple is likely to deplete this share to about 72 percent this year itself.
About Kindle
A device that comfortably fits into one hand for hours, Kindle, the purpose-built reading device from Amazon, downloads books, magazines, newspapers, blogs, et al. The documents are downloaded to a high resolution electronic paper display that is akin to a real paper.
Kindle comes with two weeks of battery life, and 3G wireless with no monthly fees.
Target has 1,740 stores in 49 states nationwide; however a little over 100 stores would house Kindle in the beginning.