Kinokuniya To Close JEM Outlet Due To Rental Costs
With digitalisation gaining pace and the corresponding rise of e-books, the demand for physical books has been steadily declining over the past few years. With Covid-19 exacerbating the trend, it seems the pandemic has claimed yet another physical bookstore — the Kinokuniya outlet at JEM.
Source: Google Maps
Citing high rental costs, Kinokuniya will be closing their JEM outlet on 9 May, leaving only 2 branches in Singapore.
The remaining outlets are located at Ngee Ann City and Bugis Junction.
Staff will be redeployed to other Kinokuniya outlets
According to The Straits Times (ST), Kinokuniya will be closing its JEM outlet on 9 May.
Yukihiro Kawakami, the Asia-Pacific group managing director of the bookstore chain told ST that the decision was mainly due to increased rental costs.
Even though government subsidies were helpful in keeping rental costs affordable over the past two years, the transition to a new normal eventually meant that they were unable to pay for the increased costs.
Along with lukewarm sales, these factors made it unfeasible for Kinokuniya to continue operating their JEM outlet.
Thankfully, the store’s staff will be redeployed to other branches, essentially keeping them employed.
A tumultuous time for the book industry
The closure of the JEM outlet follows the downward trend of the local book scene.
In 2019, Kinokuniya closed down its Liang Court branch after 36 years in operation. It was their first-ever branch in an Asian country outside of Japan.
Kinokuniya Liang Court Closes On 21 April; Only 3 Outlets Left In Singapore
Additionally, as reported by ST, bookstores such as The Moon also had to close their brick-and-mortar stores and switch to an online business model.
Mr Kawakami reassures that Kinokuniya will continue to adapt to the changing situations.
Nevertheless, he said they have “put up a good fight during the pandemic” and urged book lovers to continue supporting them throughout these rough times.
Hope they can tide through this period
There’s no denying that the odds are against physical book stores throughout the course of the pandemic.
Since Kinokuniya provides not just books but also adorable Japanese-style stationary, the closure of the JEM outlet will definitely be a loss for westies in Singapore.
We wish Kinokuniya all the best and hope they are able to find their footing soon.
Have news you must share? Get in touch with us via email at hello@mustsharenews.com.
Featured image adapted from Google Maps.
