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An innovative new book buying company has been launched – and is set to rival Amazon.
Bookloop by Bookshop.org will allow readers to exchange books for credit, which can then be used to purchase other titles from their website. Authors and indie bookshops will then receive royalties from the exchange.
Consumers will submit their titles for valuation through the website’s online system. This will then provide them with a number of credits in return. The books are then left at a DPD drop-off point or collected from the reader’s home.
The service is powered in partnership with Zeercle, which already operates the buy-back scheme with collaborations in France, Germany and on the UK high street through WH Smith. However, unlike the WH Smith scheme, the new initiative will not resell the books through Amazon-owned retailers.
“Our entire approach to bookselling revolves around providing readers with an ethical alternative to Amazon,” Nicole Vanderbilt, Managing Director of Bookshop.org UK told The Independent.
“Bookshop.org’s mission is to support indie bookshops in an age of ecommerce so that customers can buy books online in the knowledge that they are supporting small businesses in their communities. “
Led by an ethics of sustainability, the initiative is an example of an increasingly popular circular economy format. The circular economy allows resources to be reused with minimal waste. The scheme is intended to present an ethical alternative to Amazon, who currently dominate the book resale market, but have been criticised for impacting indie bookshops.
Last year, Bookshop.org reached its target of raising £3m for independent booksellers through its website.
Readers must donate at least £5 worth of books in order to accumulate credit. Examples of valuation include Prince Harry’s memoir, Spare, in hardback valued at £3.24.
Vanderbilt added, “We are very excited to launch Bookloop by Bookshop.org, powered by our new partnership with Zeercle. While as a platform we carry exclusively new books, we are keen to offer the opportunity to our customers to exchange their pre-owned books for credit to use on our website.
“This will still bring a benefit to independent booksellers, boosting sales that will help them gain extra commissions, as well as authors via the arrangement with ALCS and the Society of Authors, while ensuring the second-hand books don’t end up on Amazon.”
Meanwhile, Anna Ganley, Chief Executive of the Society of Authors, said: “We’re thrilled to support the launch of Bookloop by Bookshop.org in the UK, and it’s great to see the thoughtful way Zeercle and Bookshop.org have brought their win-win approach to the second hand book market.
“At a time when authors, like independent bookshops, are under so much pressure through technology and changes in the way books are bought and sold, we’re excited to see how authors will benefit, and hope it will strengthen the connection between authors and bookshops.”
