From their statement:
Consumer behavior — how, where, and what people read — has changed dramatically over the past several years. It’s a story that’s hard to miss with daily articles about the book industry, the future of physical bookstores, and the rise of eBooks. As technology evolves, Powell’s expects consumer reading behavior to continue to change as new options and formats for reading develop and improve over time.
Boldfaced emphasis added by me.
Powell’s was one of the first to be there with a big-splash Google eBookstore the day it launched.
It didn’t help them.
I could have told them that. But me? I’m just some nasty crank who spoils the party by bringing up CDs vs iTunes and VHS vs DVD vs Netflix.
Bookstores thought they were Special.