Following previous reports in the Chinese press, Bertelsmann officially announced the termination of its book club business in China on July 3. That decision came two weeks after the announced closure of all of the company’s 36 franchised retail bookstore chains in 18 cities in China. A Chinese analyst tells Interfax: “Chinese customers are more sensitive to price when purchasing books, but Bertelsmann’s book club model has failed to provide enough discount compared to its competitors, such as Joyo and Dangdang. What’s more, Chinese consumers are becoming more and more used to online purchasing but Bertelsmann, on the other hand, […]