Remember when B&N announced that new purchases of a Nook HD+ would come with a $50 store credit? Many bloggers took that as a sign that B&N was having an especially hard time selling their 9″ media device – more so than the 7″ Nook HD. But if the email I received today is any indication, that is no longer true.
It looks like sales of the Nook HD may have dropped in the past month because Barnes & Noble sent out an email today with another sales offer for their hardware (the 3rd such offer this year, in fact). This email went to registered customers, and not a press email blast, so it might not get much attention. But it is a fairly important story nonetheless.
B&N is now offering some Nook owners a $25 B&N store credit if they can convince a new customer to buy a Nook HD or HD+. The new buyer also gets a $25 credit:
Can you imagine how much trouble B&N must be having in trying to sell their media devices? They just effectively reduced the amount they’re getting for the Nook HD to $150. This device was already being sold at or near what B&N paid to have it made, and now they have to drop the price even more.
Update: A reader has pointed out that B&N has been running this program since 14 March, and according to the B&N Nook blog the only news today is that the store credit has been increased. Ouch. Things are even worse than I thought.
This is also not a good sign that B&N has a plan for how to dig their way out of this hole. What they’ve done today is pretty much the same rebate sale that they’ve offered in the past. That is arguably a sign that B&N is going to keep repeating the mistakes that got them into this mess (shrinking hardware sales, shrinking market share).
Without a viable turnaround plan the Nook platform and hardware is on its way out, so I’m not sure this deal is a deal at all. But if you are interested, you can find more details here.