Indie bookstores are making a shocking, triumphant comeback

"The industry's success was far from inevitable. For a long time, indie bookstores were struggling. In 1995, when Amazon opened as the "Earth's largest bookstore" and started undercutting the prices at brick and mortar stores, readers quickly started shopping online. Small stores, which were already facing competition from chains like Borders, started to close. By 2009, the number of independent bookstores across the country had dropped to an all-time low. Experts predicted that the industry would collapse."

""If you step back and try to understand what really happened from 2010 to today, it is a story of resilience," says Ryan Raffaelli, a professor at Harvard Business School who studies industries that beat the odds and survive in unexpected ways in the wake of technological change. Raffaelli has spent years researching the turnaround of indie bookstores. "It's a story of hope. And it's a story about the power of community.""

"Soon after the rise of Amazon, some bookstores tried to compete directly with the online giant by adding more titles to their stores, Raffaeli says. But others eventually adopted a different strategy, doubling down on what's uniquely possible in a physical space. First, there's the ability to convene people-something that small bookstores have always done with readings and other events, but that they're doing even more now. Some stores have as many as 500 events a year."

Independent bookstores in the U.S. have surged, increasing roughly 70% over five years with 422 new openings in 2025 alone. The rebound followed a severe decline after the 1990s rise of online retail and competition from chains, which drove many stores to close by 2009. The recovery began around 2010 and accelerated after the pandemic. Successful stores focused on community and experiences unique to physical spaces, hosting frequent events—sometimes hundreds per year—and reimagining store roles beyond book retail. Research characterizes the turnaround as a story of resilience, hope, and the power of community.

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