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PRAYING FOR HALO EFFECT.(News)(Brief article)
Crain's New York Business, May, 2007
With Borders and Barnes & Noble selling the next Harry Potter at 40% off, leaving a razor-thin profit margin, the retailers' only hope for making money is from the "halo effect'' that comes with increased traffic. "Almost every other category in the store gets a lift [when Potter goes on sale],'' says Diane Mangan, director of children's merchandising at Borders.
But some experts think the halo effect is overrated. "People buy the book and leave,'' says Albert Greco, a Fordham business professor and analyst for the Book Industry Study Group. He points to Census Bureau retail surveys that show only a modest uptick in bookstore sales in the Potter months. Bookstore sales for July and August 2005, when Harry Potter and the Half-Blood Prince was flying out of...
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