Essay About Changing Landscape Of Book Retailing And Changing Landscape Of Book Retailingsource

The Changing Landscape of Book Retailing
The changing landscape of book retailingSource: Mintel 31-08-2016[pic 2]“Book retailing is going through a period of dramatic change. Whilst some hailed the growth of Amazon as the death of traditional bookstores, retailers are fighting back with innovation. In addition, the threat of e-books also appears to be lessening as consumers are once again seeking the pleasure of reading a printed book. Going forward, retailers who can tap into changing book consumption trends will be best placed to succeed in an increasingly competitive market.”For more information see Books and e-books – UK – May 2016 and Online Retailing – UK – July 2016.What weve seenFollowing a successful launch of its first store in Seattle, Amazon has announced plans to extend its bricks and mortar presence with Chicago, San Diego and Portland confirmed as the next physical store locations.NearSt, an online platform helping consumers find and buy products from local shops, has launched a one-hour delivery service in London.Independent bookstores are starting to block Wi-Fi access instore in a bid to drive the experience of shopping for books in a physical environment.Paris bookshop, La Librairie des Puf is giving customers the chance to print any book on demand in minutes, offering a time-savvy and waste-conscious alternative to traditional book purchasing methods.The revival of printed booksFollowing a trend of declining book sales in the UK since 2012, the sector has seen a boost in trade, driven by the uplift in physical book consumption. The ONS reported a 2.3% rise in household consumption of books during 2015. In addition, data from the Publisher’s Association, sales of physical books rose 0.4% to £2.76 billion in 2015, while digital sales fell 1.6% to £554 million. This highlights a revived demand for printed books which correlates to a larger consumer trend. As Mintel’s Objectify Trend discusses, as lifestyles become increasingly digitalized, consumers are now elevating the value of physical goods.Consumer research further confirms the resilience of printed materials. A survey by Mintel found that 59% of consumers have purchased a print book in the last twelve months, compared to just 24% who have bought an e-book. In addition, use of e-readers has declined by three percentage points during the past two years. These figures are likely driven by trending books; as consumers yearn for a digital escapism, the trend for adult coloring books and healthy lifestyle books was particularly apparent across the bestseller lists for 2015. As a result, there was a revival in traditional publishing last year.