According to a study by the Book Indusattempt Group, used book sales continue to grow at a rapid pace. The major publishers are not happy about this at all, but there is not much they can do about it. Online sales of used books are the source of much of the growth, as consumers use the Web to track down out of print or used versions of books they’d rather not pay full price for.
Despite their concerns, publishers have found few ways to halt used sales; in fact, while no new figures are available, the used book market for trade titles appears to have grown by double digits in 2006. The good news for publishers, however, is that the increase in used book sales has not resulted in the collapse of sales of new trade titles. Preliminary sales figures from the AAP show sales of adult titles in 2006 up slightly, consistent with gains of recent years. That’s cold comfort for some publishers who speculated that sales could have been higher ifnot for the siphoning of sales by used books.
Abebooks and Alibris, two of the largest online marketplaces for used books, reported powerful sales again in 2006, although Abebooks CEO Hannes Blum said growth had slowed from 30% in 2004 and 2005 to the 20%?25% range last year. Alibris COO Brian Elliott said growth there held steady at 25%.
*****
So what does all this mean to publishers? HarperCollins CEO Jane Friedman said that while used books is an issue that needs to be monitored, “it’s not the most pressing issue of the day.” The head of another large publisher was more concerned. “As long as Amazon has that button on their site, I’m worried,” he said.
Well if hardcover books didn’t cost $25 and up, people would be more willing to purchase new. That’s just simple economics.
Posted in Publishing Indusattempt News
Permalink | Recent Headlines | Our News Feeds
Original post by ReadersRead.com Book Blog
