‘Fifty Shades of Grey’ Is Good For Business
Everyone is reading Fifty Shades of Grey… and this is good for more than just a little spicy time in the boudoir, if you know what I mean.
It appears that sales of the book series have given a welcome boost to bookseller Barnes & Noble. The company reported a sales increase for the first quarter, with revenue going up 2.5 percent to $1.45 billion, although the company still reported $41 million in losses. B&N was also aided by the liquidation of one of its competitors, Borders and strong company sales of the Nook device. B&N just recently announced that they were knocking $20 off the price of the e-reader and they’re expanding that business to Britain.
“During the first quarter, we continued to see improvement in both our rapidly growing Nook business, which saw digital content sales increase 46 percent during the quarter, and at our bookstores, which continue to benefit from market consolidation and strong sales of the Fifty Shades series,” company CEO William Lynch said in an earnings statement.
And it’s not just Barnes & Noble that’s getting a boost. The company behind Trojan vibrators attributes healthy sales to the book’s popularity. Shoe brand Stuart Weitzman has named a new boot the “Fifty-Fifty” after the book series. And makeup line Bobbi Brown has a new line of colors inspired by the books. And these are just a few of the things that are coming to stores or will be there in the near future.
As they say, sex sells.