Posted Thursday, September 29, 2005
PRESS RELEASE
Rapid Growth in Used Book Market Driven by the Internet
A new study commissioned by the Book Industry Study Group, Inc. (BISG) reports that the used book business in the United States topped $2.2 billion in sales and over 111 million books in 2004. Used books sales now represent 8.4% of total consumer spending on books.
The study was based on analysis of sales data from the leading on-line book vendors and extensive primary research with over 500 booksellers and 2,000 consumers and students. Companies providing sales data for the project were Abebooks, Alibris, Amazon.com, Barnes & Noble, Biblio.com, Bowker, eBay, MIR, and Powell’s.
“Creating the industry’s first comprehensive and in depth study of the entire used book market required buy-in from all key market participants. As a trade association representing all sectors of the publishing industry, BISG was in a unique position to lead this effort and generate this report,” commented Jeff Abraham, Executive Director, BISG.
While the used book market continues to be dominated by college textbooks and education titles, the most significant growth is in the broader non-education segments such as adult trade, professional, religious and other genres. The well-established used education book market exceeded $1.6 billion in 2004, up 7% from 2003. The non-education market reached $589 million in 2004, up 25% from 2003.
“The real story is the dramatic growth of used trade books sold through on-line channels”, noted Jeff Hayes, Group Director for InfoTrends/CAP Ventures and principal analyst on the study. “Used books are becoming mainstream as the Internet provides transparency into the industry inventory and consumers become more comfortable buying them.”
On-line sales of used books were $609 million in 2004 a 33% increase over 2003. The leading on-line book vendors reported double digit growth in all genres. Sales through traditional used bookstores were up approximately 4.5% in 2003, primarily from increased sales of textbooks at college stores. Sales at other locations (e.g. thrift stores, book fairs, library sales, yard sales) were up only 1.5%.
“This report will be a must-read for the book business,” said Boris Wertz, COO of Abebooks.com and chair of BISG’s used book subcommittee. “It shows used books are a force to be reckoned with and booksellers are skillfully exploiting the Internet. High consumer satisfaction is no surprise as we see word-of-mouth fuelling growth.”
BISG will be publishing the complete report in November 2005 that will provide detailed analysis of the market size (including sales figure by channel and genre category), survey findings, and implications for book publishers and booksellers.
About the Book Industry Study Group, Inc.
The Book Industry Study Group (BISG) is the industry’s leading trade association for policy, standards, and research. Membership consists of publishers, manufacturers, suppliers, wholesalers, retailers, librarians, and others engaged in the business of print and electronic media. For over 25 years, BISG has provided a forum for all industry professionals to come together and efficiently address issues and concerns to advance the book community.
The member-driven organization uniquely represents all segments of our industry from publishers and e-publishers to paper manufacturers, libraries, authors, printers, wholesalers, retailers and e-tailers, as well as organizations concerned with the book community as a whole.
Learn more about BISG at www.bisg.org.
About InfoTrends/CAP Ventures
InfoTrends/CAP Ventures is the leading worldwide market research and strategic consulting firm for the digital imaging and document solutions industry. We provide research, analysis, forecasts, and advice to help clients understand market trends, identify opportunities, and develop strategies to grow their businesses.
Additional information about InfoTrends/CAP Ventures is available on the Web at www.capv.com.
The study was based on analysis of sales data from the leading on-line book vendors and extensive primary research with over 500 booksellers and 2,000 consumers and students. Companies providing sales data for the project were Abebooks, Alibris, Amazon.com, Barnes & Noble, Biblio.com, Bowker, eBay, MIR, and Powell’s.
“Creating the industry’s first comprehensive and in depth study of the entire used book market required buy-in from all key market participants. As a trade association representing all sectors of the publishing industry, BISG was in a unique position to lead this effort and generate this report,” commented Jeff Abraham, Executive Director, BISG.
While the used book market continues to be dominated by college textbooks and education titles, the most significant growth is in the broader non-education segments such as adult trade, professional, religious and other genres. The well-established used education book market exceeded $1.6 billion in 2004, up 7% from 2003. The non-education market reached $589 million in 2004, up 25% from 2003.
“The real story is the dramatic growth of used trade books sold through on-line channels”, noted Jeff Hayes, Group Director for InfoTrends/CAP Ventures and principal analyst on the study. “Used books are becoming mainstream as the Internet provides transparency into the industry inventory and consumers become more comfortable buying them.”
On-line sales of used books were $609 million in 2004 a 33% increase over 2003. The leading on-line book vendors reported double digit growth in all genres. Sales through traditional used bookstores were up approximately 4.5% in 2003, primarily from increased sales of textbooks at college stores. Sales at other locations (e.g. thrift stores, book fairs, library sales, yard sales) were up only 1.5%.
“This report will be a must-read for the book business,” said Boris Wertz, COO of Abebooks.com and chair of BISG’s used book subcommittee. “It shows used books are a force to be reckoned with and booksellers are skillfully exploiting the Internet. High consumer satisfaction is no surprise as we see word-of-mouth fuelling growth.”
BISG will be publishing the complete report in November 2005 that will provide detailed analysis of the market size (including sales figure by channel and genre category), survey findings, and implications for book publishers and booksellers.
About the Book Industry Study Group, Inc.
The Book Industry Study Group (BISG) is the industry’s leading trade association for policy, standards, and research. Membership consists of publishers, manufacturers, suppliers, wholesalers, retailers, librarians, and others engaged in the business of print and electronic media. For over 25 years, BISG has provided a forum for all industry professionals to come together and efficiently address issues and concerns to advance the book community.
The member-driven organization uniquely represents all segments of our industry from publishers and e-publishers to paper manufacturers, libraries, authors, printers, wholesalers, retailers and e-tailers, as well as organizations concerned with the book community as a whole.
Learn more about BISG at www.bisg.org.
About InfoTrends/CAP Ventures
InfoTrends/CAP Ventures is the leading worldwide market research and strategic consulting firm for the digital imaging and document solutions industry. We provide research, analysis, forecasts, and advice to help clients understand market trends, identify opportunities, and develop strategies to grow their businesses.
Additional information about InfoTrends/CAP Ventures is available on the Web at www.capv.com.