BOOK SALES ARE BOOMING
Book selling is a booming business. Big vendors like Amazon, Barns and Noble, Books a Million, and Borders have cataloged books into sections on their websites making it easy to quickly find your subject. Accordingly, online buyers with access to these worldwide cyber-marketplace order from these sites and others with confidence because they know they are promised the highest in book selling standards. With this in mind, Books for Less Online attempts to bring these top booksellers to one place. You can choose which site you want to buy your next best seller.
THE MARKET FOR ONLINE BOOK SALES
An online Forbes article stated that over the past 20 years there has been a 50% decrease in the number of book stores across the country; from approximately 4,000 down to fewer than 2,000. Independent bookstores now make up 10% of book sales in the United States. On the other hand, Satista, an online statistic portal, reports that worldwide book sales are forecast to increase in the next few years from approximately $113B in 2015 to $123B by 2020. Of the 2020 projection, book publishing companies are expected to capture only an estimated $44B of the $123B sales. As you can see, book publisher sales fall far short of the 2020 projection, leaving the difference, $79B, to be made in online sales. Moreover as an added bonus in 2017, the revenue from periodicals in just the United States alone is projected to be $39.5B. Numerous periodicals are sold online, too.
E-BOOKS AND AUDIO SALES
Statista also reports that since 2015 E-books gained acceptance by 73% from publishers and authors. These e-book (digital readers) include Amazon’s Kindle, Apple’s iPad, Barnes & Noble’s Nook, and Kobo, another online store. Furthermore, a recent Forbes article stated roughly 20% of all books sold in the United States are for the Amazon Kindle with 30% of all book sales being E-books nationwide. Additionally, audio books produced in cassette tape and CD are making a comeback in digital form. The increase in the audio book numbers since 2011 with some 7,200 titles to over 35,000 titles in 2015 is proof. However, despite the rise of E-books and audiobooks, printed books are still preferred by 65% of U.S. readers.
Price Waterhouse Copper projects the 2017 revenues from book sales will grow just in the United States to over $100B (Statista). With projections for a large portion of book sale revenue to be from online sales, I think the interest exists and the timing is right to start a productive, beneficial business selling books in print, and in E-book and audio form online.