By Maja Talevska
Ever since Amazon took over the online space, the total market share for online sales rose from about 5% in the ’90s to 12% in 2019, according to stats about online versus in-store shopping. This change has affected the way people shop for books too.
Giants such as Amazon have freed the authors from traditional publishing routes and gave them the power to price their books however they like. This affected the publishing houses all over the US and their authors. The only category of consumers that benefits from this are the readers.
Today, the book market is vast, and the choice of what to read is huge. There is something for everyone who loves reading, but there are also different formats of books. The offers vary, and so do the platforms where people buy their favorite genres.
Let’s see how much Americans spend on books.
Printed vs. Kindle Book
Surprisingly enough, printed editions outsell ebooks. This probably happens because people sit in front of the screens for almost all of their working hours. By the time they get home, they’re already tired, and staring at a Kindle device will put even more strain on their eyes.
Newest data shows that the total sales of all formats of books were about $26 billion in 2018. Printed editions made about $22 billion, and ebooks took only about $2 billion. It seems that even though Kindle is easy to carry and store a lot of digital books in it, the printed edition still holds its throne.
Another book format that started gaining popularity is the audiobook. The total revenue of audiobooks grew by 25% each new year and was close to $1 billion in 2018. Consumers find that audiobooks come in handy when it comes to driving long-distance, running, or doing any task that allows them to split their focus and continue reading.
Store Sales vs. Online Sales
In 2019, store sales of books dropped to $10 billion from $10.6 billion in the previous year. The latest data and past trends show a prediction that this number will continue to decline, primarily due to the COVID-19 pandemic.
What Are the Average Holiday Expenses?
Buying a book for a gift can be equally as hard as buying a perfume. Nevertheless, those who receive books as gifts are happy to get them. But how much does an average American citizen spend on books during the holidays? The data from 2018 show the answer is about $28.96 per consumer.
Revenue by Genre
Top five genres that earn the most money are:
- Romance/erotica – $1.44 billion
- Crime/mystery – $728.2 million
- Religious/inspirational – $720 million
- Science-fiction/fantasy – $590.2 million
- Horror – $79.6 million.
The overall book market seems to be in a bit of trouble ever since Amazon became popular. Still, books seem to be among the primary means of relaxation, and readers are always looking out for exciting headlines and compelling stories to keep themselves occupied. Maybe the most interesting thing is that paperback books, though sometimes more expensive than ebooks, remain the readers’ favorite.
Maja Talevska is the Founder of Savemycent.com which is a premier online coupon code resource, which provides consumers with high-quality coupons. As a fan of coupons who’s constantly obsessed with getting the best deal possible, she got fed up with looking for an all-encompassing coupon website that she liked, so that is why she decided to make her own. Since then, she’s never looked back!