Research and Markets: Bookselling Market Report 2012
Dublin - Research and Markets (http://www.researchandmarkets.com/research/8d54s5/bookselling_market) has announced the addition of the "Bookselling Market Report 2012" report to their offering.
This Key Note Market Report examines the bookselling market in the UK, comprising of consumer, academic and professional, and school books. The market has changed significantly over recent years, which has led to a decline in retail value, with Key Note estimating that sales stood at ?3.3bn in 2011.
In terms of sectors, consumer books still contributed the greatest share of the market, however a large decline in value has been evident. This is believed to be due to the recession having an impact on consumer spending, while the growing popularity of e-books is taking potential sales away from the traditional market.
Academic and professional titles are thought to have fared better in the current climate, as the types of books included in this sector are often essential for work or study, and as such, the sector has been more resilient to the economic downfall. Furthermore, sales of school books, which include English Language Teaching (ELC) aids, are believed to have suffered a decline in value, mainly influenced by the recession and a cut in school spending on items such as books.
Overall, there are a number of significant threats to the bookselling industry, including the growing popularity of e-books. The digital versions are believed to be reducing sales of traditional books, while many are distributed at much lower prices, devaluing the entire book industry. The increase in book discounting is also reducing any potential growth, as retailers are more focused on lowering prices during the tough trading period.
WH Smith and Waterstones are two of the leading high-street booksellers, although both continue to face competition from online and cheaper outlets. Online sites such as Amazon and Play are believed to have increased their share of the market, as consumers are more price conscious since the recession, opting for the cheapest outlets. Similarly, supermarkets and discount bookshops have also fared well during the recession, as both types of outlets offer minimal prices, while promotions and discounts are heavily applied.
Another major change to the industry includes the loss of Woolworths in 2008 and Borders the following year. Both retailers were significant contributors to the bookselling market, and along with their departure, it is believed that many independent retailers also exited the marketplace due to the tough trading environment currently evident on the high street.
- Amazon.co.uk Ltd
- Blackwell UK Ltd
- Book Club Associates Ltd
- The Book People Ltd
- British Bookshops and Stationers Ltd
- Waterstones Booksellers Ltd
- WH Smith PLC
- The Works Stores Ltd
For more information visit http://www.researchandmarkets.com/research/8d54s5/bookselling_market
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