Volde-Mart

Harry Potter and the Deathly Hallows will be an enormous event in the world of books when it is released to the public on July 21. Millions of copies have already been reserved, bookstores have planned elaborate all-night Harry Potter parties and Amazon has massive and intricate plans for delivering the book ASAP, but not before the release date.

And yet, acccording to a recent Los Angeles Times story, Potter profits will be peanuts for most American booksellers.

Apparently the book has been so heavily discounted by online booksellers and big box discount stores that few retail outlets are daring to sell it for anything near full price. For Wal-Mart, this is no big deal: Harry Potter is just another loss leader that brings people into the store where they might also pick up a garden hose or underwear. But for struggling-to-survive independent booksellers, cutthroat price-cutting of the biggest seller ever sounds like the work of the evil Lord Voldemort.

Gabcast! Club MediaNote #66