Waterstone's drops 3-for-2 book deal

Waterstone's has announced it will end its 3-for-2 deals on books in September after more than 10 years.

The promotion is expected to be withdrawn this month and replaced by a new pricing structure which will see books sold for £3, £5 and £7.

The bookstore chain was bought by Russian businessman Alexander Mamut earlier this year.

Managing director James Daunt has vowed to shake up the chain amid flagging sales and customer dissatisfaction.

Many publishers have welcomed the move to abandon the 3-for-2 promotion which has dominated the shops' sales in recent years.

Ursula Mackenzie, chair of the Trade Publishers' Council at the Publishers Association, told industry magazine The Bookseller that it was "a good thing".

"I'm not sure that the 3-for-2 is what people are looking for. They want one book, at the cheapest possible price."

'Star names'

But it has also been argued that the offer often gave exposure to lesser known authors who became the third book alongside two bestsellers.

"Without the support of being thrown into promotions featuring today's star names, those authors may find the going tougher," said David Prosser in The Independent.

Waterstone's, which has faced increased competition from online stores such as Amazon, and the rapid growth of e-books, will be hoping for strong sales over the Christmas period.

In an internal email sent in July, Mr Daunt said he would be working closely with shops "to ensure that as we enter the crucial final quarter of the year, we do so with our shops stocked to the best possible effect".