Schiffer LTD.®, An Imprint with Minimum Advertised Pricing
To maintain the integrity of specialty books and to support its retailers, in 2010, Schiffer Publishing, Ltd. became the first US publisher to introduce Minimum Advertised Pricing (MAP) with its Schiffer LTD® imprint. The program requires retailers who have agreed to the MAP policy to advertise titles under the imprint at the bar-coded price or higher.
Prevalent in other industries and in the European book market as a tool for fostering brand integrity and price stability for retailers, Schiffer Publishing, Ltd. views Schiffer LTD®’s MAP structure as a way to counteract the massive discounting of books both in the physical store and online. It is widely believed that this discounting is a contributing factor in the decline of the independent bookseller.
According to Pete Schiffer, president of Schiffer Publishing, Ltd., “The MAP program is structured to maintain equality in advertised pricing. By establishing a Minimum Advertised Price in all sales channels, retailers can compete on an even playing field. By taking the price factor out of the equation, their knowledge, customer service, and availability will again become important as customers make their buying decisions." Schiffer believes that MAP will once again encourage retailers to stock books suitable to the unique interests of their customers, without fear of being undersold.