LAST month, Bertelsmann, one of the world's largest media companies, decided to shut down its China Book Club. For more than a decade the German transnational company had invested heavily in China's book market, including brick-and-mortar retail stores and the "book club business model," garnering 1.5 million Chinese members. But their customer base gradually eroded as book buyers became comfortable with online purchases at Dangdang, Joyo and Amazon, which offer flexible service and low prices. Readers have always been on the lookout for good books at discount prices, and publishers have enthusiastically complied.