Waterstone’s has axed its iconic three-for-two promotion, which has been a key marketing tool for the company for more than 10 years.
The UK’s largest retailer is reportedly looking to introduce money-off deals for individual books from September to replace the three-for-two offer.
Waterstone’s, which has 296 stores in the UK, will either price campaign books at £5 or introduce a “staggered” offer for paperbacks at £3, £5 and £7.
Some will see the dramatic move as a gamble while others believe the change will revive the flailing bookseller.
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"I think everybody has been frustrated from time to time in a Waterstone's because they couldn't find that third book to complete the three-for-two deal. However, it definitely encouraged people to take a gamble on a book they may not have previously tried," said Graeme Neill, news editor at the Bookseller.
However, Neil believes offering customer’s better value on individual purchases in the midst of a crippling recession simply makes more sense.
“People may be more likely to make an impromptu purchase of a book here or there rather than spend what is a decent amount of money for three books together," he added.
The move has been welcomed by the book trade and disgruntled consumers who became increasingly frustrated by the three-for-two offer.
The decision comes following the sale of the high-street book chain to Russian billionaire Alexander Mamut and the appointment of James Daunt as managing director in June.
