In findings that will surprise few in publishing, the Book Industry Study Group report on used books found a rapidly growing segment that is likely to continue to be one of the biggest growth areas in the industry.
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Growth in the last few years has been fueled by online retailers. BISG estimated that sales of used books through online retailers rose 33% in 2004, to $609 million, while sales through bookstores rose 4.6%, to $1.57 billion.
My favorite though, is that they just figured this part out...
In a survey conducted by Hayes, the majority of consumers said they bought a used book even though they knew a new book was available. Furthermore, a majority said they would recommend buying a used book to a friend. All this momentum is likely to "ratchet up" used book sales in the future, Hayes said. Used books are now considered mainstream and the industry is approaching a point were consumers may choose to delay their purchases of a new book for a few weeks--until a used copy becomes available.
Holy shit! We better get off this ship before she sinks! Used Books becoming mainstream? My god man! Or maybe that was part of our plan all along...
Article courtesy of publishersweekly.com
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