Barnes & Noble Inc. suffered a 10.9% revenue loss in consumer stores over the 9-week holiday season. Decreased sales of Nook tablets and e-readers contributed to most of that decline. The Nook segment as a whole lost 12.6%, or $311 million in revenue, compared to the same holiday season a year ago.
Despite the push that started during the Black Friday period, sales of Nook devices, accessories and digital content all fell short as the weeks ticked down. Barnes & Noble had been taking on Amazon’s tablet lineup but this year Apple’s iPad Mini and Google’s Nexus 7 also joined the fray. The hype, marketing and demand for the iPad Mini certainly took some of the spotlight away from the Nook.
Digital content sales, including apps, magazines, e-books, and newspapers are expected to climb in 2013. The tablet competition is only getting more fierce, so Barnes & Noble needs to quickly figure out how to capture more consumers in this ever crucial market.