We get a booktrade bulletin most days. These articles (Borders sales results and Barnes and Noble sales) came in today on sales results for two US bookselling giants. Before reading these it should be remembered that discounting in the US is nowhere near the ridiculous scale it is in the UK.

Both sets of results show healthy growth in the books sector. Great. However, how did the international arm of Borders (of which the UK makes up 3/4 of the market) manage to lose money on over 10% growth?

The answer is only the manic slashing of prices on bestselling titles. Waterstones are selling Richard & Judy at half price. This is a contained market. The punters are going to buy the books anyway. It's where you make your profit if you're a high street chain. The books aren't even that expensive to start with! They're cheaper than a movie ticket for god's sake. Tesco's and Asda can sell at cut price because they're more interested in selling tins of beans and olive oil where they make the real money. Waterstone's and Borders cannot compete with these people. They should concentrate on what they know.

No other country in the world slashes book prices like we do. What does that say about how our corporate culture values books and what they stand for? And consequently what does that say about how they view book lovers? They will tell you that they are giving the loyal book buyer great deals. The truth is the real market for books - the person who buys more than 30 a year - don't want the books that are on offer. And because slashing prices puts pressure on the publishers back list and on the ability for small publishers to get their stock into the chains the real book buyer is finding it harder and harder to get to all the great stuff that does exist but isn't getting a chance to live.

The American market has grown without discount - crazy, huh? Imagine it. People who like reading are buying more books. And at full price! In the states, as ever taking the lead for the rest of us, the number of small presses has risen even with the concentration of the bestsellers centred on 5 major publishers based in New York. Even the CEO of HarperCollins realises the importance of the 'long tail'. Small presses are relying on local markets and guerilla marketing and not trying to out perform the market leader. There seems to be a shrinking away from the macho corporateness of my discounts bigger than years (or should that be the corporate cowardice of oh my god his discounts bigger)

The uk market seems to be still chasing the mythic customer - the one who currently buys one book a year - at christmas. These people keep the book trade afloat. There's nothing wrong with Jordan's new book or Rooney's 5 book autobiography, they're entertainment and when they sell thousands at christmas they help publishers support new writers and experimental stuff. The thinking is that if these people bought 2 books a year then we'd all make twice as much! It hasn't worked and they've been trying for years now. It especially doesn't work when you sell these bestsellers at cost price! Jamie Oliver for a tenner - nobody makes any money at all except for the chirpy, tory chappie and when nobody makes money the first things to go are the slightly edgy, quirky, interesting things that the 30 book a year person actually wants. Also, given the increasing amount of stuff available for people to distract themselves why would they buy 2 books a year. Hell, I own a bookshop and most nights these days its the movie channel and early to bed. It also doesn't work when every store in the country has the same stuff. Local markets are so important and the Americans have realised this already. How long do we have to wait?

Luckily at C&P we're flying the flag for books you won't find at the front of waterkers, smiths, or borderlines. We have locals and interesting one offs. Come and have a peruse. And when I get over my small business exhaustion I'll be back reading all our great stuff!