In an interview, Director Nidhi Gupta says that company is sharpening its omnichannel strategy and evolving stores into more community-driven spaces focused on discovery, engagement and experiential retail
Crossword Bookstores is betting big on India’s underpenetrated book retail market, as it expands deeper into tier 2 and emerging cities while adding 15 to 20 stores annually, said Nidhi Gupta, Director, Crossword Bookstores. The company sees significant whitespace in markets where consumers have had limited access to organised and curated bookstore formats.
In an interview with BW Retail World, Gupta said that alongside expansion, the company is also seeing sustained demand for physical books, particularly among younger consumers, countering the long-held assumption that digital formats would weaken reading habits. Gupta said categories such as manga, self-help, mythology, romance and young adult fiction are witnessing strong traction, aided by social media-led discovery.
At the same time, the company is sharpening its omnichannel strategy and evolving stores into more immersive, community-driven spaces focused on discovery, engagement and experiential retail rather than purely transactional purchases. She added that newer stores are maturing faster than they did a decade ago. Edited Excerpts:
India’s book retail market remains highly fragmented and underpenetrated compared to global markets. What kind of whitespace opportunity do you still see for organised book retail in India?
India continues to be a deeply underpenetrated market for organised book retail, especially when you compare it with mature global markets. While the overall retail market in India continues to grow steadily, there are still several cities and consumer clusters that have never experienced a professionally curated bookstore format.
Over the last few years, we have entered markets such as Lucknow, Patna and Jodhpur, where consumers responded extremely positively to the Crossword experience. In many of these cities, consumers had limited access to large-format bookstores offering curated discovery, community engagement and experiential retail under one roof.
That gives us confidence that the whitespace opportunity remains substantial, particularly beyond the top metros. While metro markets already have stronger retail density, Tier 2 and emerging cities continue to present significant headroom for growth. We believe there is a long-term opportunity to build organised book retail as both a cultural and lifestyle destination across India.
For years, the assumption was that digital and short-form content would reduce book reading. Are you actually seeing a structural comeback in physical books, especially among younger consumers? What does your data suggest?
The debate around physical books versus digital formats has existed for well over a decade. What we are seeing now is not necessarily a “comeback,” but rather a clear coexistence of formats. Audiobooks and e-books serve specific use cases, but they have not replaced the emotional and tactile experience of reading a physical book.
Importantly, younger consumers continue to engage strongly with physical books. Categories such as manga, self-help, romance, mythology and young adult fiction are seeing robust traction, particularly among Gen Z and younger millennials. Social media platforms have also become powerful discovery engines for books, influencing purchase behaviour in a meaningful way. Our data clearly indicates that there remains a strong and resilient demand for physical books. Readers still value browsing, collecting and gifting books, and bookstores continue to play a critical role in that ecosystem.
Crossword has spoken about an ambitious expansion roadmap. What does the next two to three years look like in terms of store additions, city priorities and format mix? Are you prioritising metros, tier 2 markets or travel retail?
Over the last three to four years, particularly post-pandemic, Crossword has been on a strong expansion trajectory. We are currently adding approximately 15–20 stores annually, and the plan is to continue scaling at a healthy pace over the next few years. While metros remain important markets, a large part of the opportunity lies in Tier 2 and emerging cities where organised bookstore formats are still underpenetrated. We continue to evaluate opportunities across both established urban centres and newer high-growth markets.
We are seeing newer stores mature faster than they did a decade ago. Brand awareness is stronger, our store formats are more refined and we have a much deeper understanding of what works in terms of location, assortment and customer engagement. However, we continue to focus on building sustainable, long-term businesses rather than chasing rapid growth.
Are consumers buying more physical books today or simply rediscovering bookstores as experiential spaces? How much of the growth is consumption-led versus experience-led?
It is a combination of both. Consumers today are not just visiting bookstores to transact; they are increasingly looking at bookstores as spaces for discovery, inspiration and community engagement. However, that does not take away from the fact that book consumption itself remains healthy.
The modern bookstore experience is becoming more immersive. Consumers want curated recommendations, comfortable browsing environments, community-led interactions and events that create a deeper emotional connection with reading. At Crossword, we see experiential retail as an enabler of consumption rather than a substitute for it. A well-designed bookstore environment increases engagement, dwell time and ultimately conversion. The experience strengthens reading culture while also driving commercial growth.
With consumers discovering books through marketplaces, social media and quick delivery expectations, how are you building an omnichannel strategy that complements rather than cannibalises physical retail?
We have always been a traditional brick-and-mortar retailer at heart. Over the years we have consciously scaled our omnichannel capabilities to complement our physical retail network. Digital discovery today plays a very important role in influencing consumer behaviour. Platforms such as Instagram and YouTube have become major discovery channels for readers, while quick commerce and ecommerce are increasingly shaping convenience expectations.
Our approach is to ensure that online and offline channels work together rather than compete with each other. Physical stores provide curation, browsing and community experiences, while digital commerce allows us to offer a much wider catalogue beyond the limitations of shelf space. Similarly, our presence across online and quick commerce platforms helps us remain accessible to customers who prioritise convenience and immediacy. The objective is to create a seamless consumer journey irrespective of where discovery or purchase happens.
How much of growth today is being driven by books versus adjacent categories such as stationery, toys, games and gifting? Is Crossword increasingly becoming a broader lifestyle-led discovery retail format?
Crossword continues to remain fundamentally a book-first brand. Books continue to account for the largest share of our business and remain central to who we are as a brand.
At the same time, adjacent categories such as stationery, gifting, toys and games have evolved meaningfully over the years. These categories are carefully curated to complement reading habits and enhance the overall consumer experience within the store. We do not view ourselves as moving away from books into a pure lifestyle retail format. Instead, the broader product mix helps create a more holistic discovery environment for consumers while remaining anchored in books and reading culture.
Are there categories that have surprised you in terms of growth, manga, regional literature, mythology, romance, children’s learning or wellness/self-help? What does that say about today’s consumer mindset?
Certain categories have shown particularly strong momentum over the last few years. Self-help, business and wellness-related content continue to perform very well, reflecting a broader consumer focus on self-improvement and personal growth.
Manga and graphic storytelling have also emerged as significant growth segments, especially among younger audiences. That reflects how consumer preferences are evolving and becoming more globally influenced. At the same time, categories such as mythology, romance and children’s learning continue to remain resilient. Overall, the consumer today is looking for both entertainment and enrichment, and that duality is visible across reading trends.
Would it be fair to say Crossword today is in a growth mode, profitability mode, or scale-with-discipline mode? What is the balancing act internally?
We would describe the business today as being in a scale-with-discipline mode. Growth is certainly a priority, but it has to be sustainable and backed by strong unit economics. Every expansion decision is evaluated through the lens of long-term profitability, consumer relevance and operational efficiency. We are not pursuing growth at the cost of financial discipline.
For us, success over the next three to five years would mean building a larger and more geographically diversified retail footprint while continuing to strengthen consumer engagement with books and reading culture. It is equally important that Crossword continues to evolve as a trusted discovery-led retail brand that remains deeply relevant in an increasingly omnichannel consumer environment.
Ultimately, success would be measured by how effectively we advance our vision of enriching lives through the power of books – bringing more readers into the ecosystem, fostering a culture of reading and making books accessible to communities across India and beyond.
