In 2011, the writer Ewan Morrison said that “within 25 years, the digital revolution will spell the end of paper books.” This also hinted at the coming twilight of brick-and-mortar bookstores, which had to invest in inventory and pay staff while it was impossible to compete with Amazon’s prices. The tech giant was also selling cheaper than many stores could afford. And this caused a general concern of the physical bookstores, doomed to close.
However, this last year things are changing: there is a growing trend in traditional bookstores both in Spain and in the rest of Europe and the United States. On the other hand, Amazon book sales are declining.
The numbers. In the first half of 2022, more books were sold in Spain than in 2021 and there is a new trend in consuming books: people buy less on Amazon and more in bookstores on the street. According to data from the GFK consultancy, between January and May 2022, department stores and chains billed 52% of book sales in Spain and 42% traditional bookstores. However, the latter was the channel that has grown the most this 2022 compared to 2021, 8.6%, according to the consultant.
A global trend. This phenomenon is experienced all over the world. In the UK, sales at independent bookstores have reached their highest in 10 years. A decade ago, annual sales were on the decline. Between 2012 and 2013, Nielsen Books & Consumers data shows, print book sales fell 7.5% and then fell another 5.5% in 2014. But since 2017 those numbers have started to pick up. In 2020 the pandemic pushed them even further.
And the latest Nielsen analysis shows that number has grown dramatically since 2021, while the number of independent bookstores has been steadily growing by up to 6% in a single year. The same thing is happening in the US. According to The New York Times, up to 300 new bookstores have opened their doors in the country in recent months. Suffice to say, Barnes & Noble is opening more stores than it’s closing, including two in the place formerly occupied by Amazon Books.
In Spain. Returning to the national figures, we can say that 2022 was a great year for the bookselling sector, which recovered what was lost and exceeded the pre-pandemic figures: in 2021, the sector had a turnover of 1,100 million in Spain, the highest figure in the last decade, which it was that of 2011, with 1,090 million. And this 2022 things continue despite high inflation.
Why? Among the reasons is a change in lifestyle since the pandemic, which has been a miracle for the book trade. And that trend has extended to our days after the Covid. On the other hand, before there was a homogenization and an almost pitiful supply of the few chains, in terms of stock and appearance of the stores. Now we have a large number of specialized bookstores for a more select reader.
Amazon’s role. And not only that, but also the role that Amazon has taken regarding the sale of books is having an impact on the phenomenon. Let’s not forget that the tech giant started out as a bookstore. One that sold books much cheaper than other stores. But in recent years it has carried out a change of strategy. His book sales represent less than 10% of his income. And when a copy of Kill a Mockingbird Pocket version used to cost 4 euros, now it costs €6.55.
As Mike Shatzkin, publishing industry expert and author of The Book Business: What Everyone Needs to Know, we are seeing that the role that books played in Amazon’s original plan has changed: “Amazon’s initial pricing strategy was not in the book business to make money, but to acquire customers. Now that it has consolidated its position as the most efficient place to buy anything, you no longer have to worry about discounted books.
The threat of audiobooks. Even so, we cannot forget about another threat that stalks independent bookstores: audiobooks. In 2021, 13 million adult fiction books were sold in audio format in the UK, less than 10% of the volume of all adult fiction sold, but up 30% year-on-year. And in 2022 eBooks accounted for 22% of all books sold in the UK and 43% of all adult fiction sold.
Image: Unsplash