Mission Comics is doing something novel with its business model; the store will be offering a buy back option of graphic novels that they will use to start a renting service. The store is also offering customers that bring in graphic novels points that can then be used towards the rental program.
By incentivizing the creation of a rental system, Mission Comics is encouraging its customers to come into the store more often. This connected culture of comic reading is an excellent approach to the long-term survival of the store.
Implications - The eco movement and the credit crunch have created new social realities. One of those is that shared consumption is on the rise. Companies should consider how they can integrate a sharing system into the services that they offer.
What's Driving This Trend
- Shared Consumption
- Implementing a sharing system into services can tap into the growing trend of shared consumption.
- Buy-back Programs
- Introducing buy-back options can lead to disruptive innovation opportunities, like graphic novel rentals.
- Connected Culture
- Fostering a connected culture of comic reading can enhance the long-term survival of stores in the industry.
Who This Affects Most
- Retail
- Retailers can explore integrating sharing systems and buy-back programs to adapt to the rise of shared consumption.
- Publishing
- Publishers can venture into disruptive innovations, such as graphic novel rental services, to capture new market opportunities.
- Entertainment
- Entertainment companies can tap into connected culture trends to engage comic readers and foster customer loyalty.
