Sometimes it's hard to outrun your past. For more than 75 years Stacey's Bookstore, in the heart of San Francisco's busy financial district, was known for selling technical/professional books. After some substantial renovations and expansions eight years ago, the bookstore was transformed into a 24,000-sq.-ft. bookstore where approximately 80% of the store's sales now come from general books. But according to general manager Tom Allen, there's still a lingering perception, at least among some publishers, that Stacey's is primarily a store for the professions.
The changing San Francisco economy is a large part of the reason for Stacey's shift from a technical/professional focus to a more general one. "We really benefited from the dot-com boom," said Ingrid Nystrom, the store's marketing and events manager. "Downtown San Francisco was filled with people, and it was very good for business." But when the Internet-fueled bubble burst, demand for technical books fell (so much so that two other Stacey's stores, both in the heart of Silicon Valley, closed; the San Francisco location is the only Stacey's store today). Street traffic also slowed perceptibly. "People are simply not here the way they were," Nystrom told PW. Added Allen, "The last three years, we've been trying to make the best of a tough time in bookselling, driven mostly, I believe, by the local economy but also, of course, by Amazon.com and the rise of the superstores."
"Publishers need to realize we're not just a technical store anymore. We're actually a whole lot of stores under one roof," Nystrom said. "One of our challenges is that we have so many specialties. We carry enough mystery books to fill a small bookstore, for example, and a very extensive science fiction section. The people who manage these sections are serious, knowledgeable specialists."
An Independent Superstore
There's no cafe or sections selling music or DVDs, but the sheer size of the place and its upscale, elegant layout, on three large and roomy levels, makes Stacey's seem, at first glance, like a chain superstore. But there are two important differences: the depth and breadth of its inventory and the experience and service provided by its 30 or so full-time employees.
"Most superstores are actually larger than Stacey's," said Allen, a career bookseller who has been running the store for the past six years. "But I believe we probably have more space devoted to books than most of them." Indeed, the store maintains an on-hand inventory of some 90,000 titles, with particular depth in fiction (14,500 titles in stock), mystery fiction (3,600 titles) and—reflecting the store's roots—approximately 15,000 medical, technical and professional titles.
Founded in 1921 by John W. Stacey, a botanist and bookseller, Stacey's Bookstore supplied medical texts to Western doctors (the seed money for the store came from 47 California physicians; today, the store is owned by library supplier Brodart Co., though buying and managing decisions are entirely in the hands of Allen and his staff). In 1946, Stacey's expanded its inventory to offer a comprehensive line of technical and professional titles. Indeed, in Allen's office/conference room, there's an old wooden sign that reads: "Stacey's: Scientific and Professional Book Center of the West."
"We've got an incredible selection of books about business, computers, medicine and specialized texts—building codes, for example—but that's not what the Stacey's of today is really about," Allen told PW. "We don't want to give up that business, of course, but we are more of a general bookstore with an excellent technical selection than the other way around."
Changing Times
There are two Borders stores within a mile or so of Stacey's, but Allen believes they're not a competitive threat. "What has hurt us more is that there are Borders and Barnes & Noble stores in commuter communities," he said. "A few years ago, office workers would shop here because there wasn't a store like this in the town where they lived." Still, the location in downtown San Francisco attracts lots of browsers, particularly at lunch time and after work. The broad selection coupled with a particularly active events calendar turns browsers into buyers.
The third-floor events space can accommodate about 60 seats with standing room for up to 200. "We typically get 35 to 75 people at each of the two or three events we host each week in the summer and four or five [events per week] in the other seasons," said Nystrom.
Stacey's vast selection, the active events schedule and its prime downtown location are certainly contributing to the store's ability to survive and prosper, but Allen believes that staff experience is what sets this independent superstore apart. "A dozen folks on the staff have more than 10 years of experience selling books," said Allen, "five of whom have 20-plus years, and another dozen employees with more than five years' experience. The collective knowledge of the staff makes for expert help in suggesting and finding the right book, and we always make sure we have enough staff available to provide any help that is wanted."
To encourage repeat business, Stacey's has an active "frequent buyer" program, offering customers a free "Literary License" card that provides a standing 10% discount, a $10 bonus for every $200 in total sales and, twice a year, a 20% discount on anything in the store.
Allen and Nystrom are optimistic about the store, which is to say they're optimistic about the local San Francisco economy and a population that is enthusiastic about books and independent bookstores. "I like being part of a community that values ideas and the written word," said Nystrom. As long as that remains true, there's a place in the competitive world of bookselling for places like Stacey's Bookstore.
