Traditional bookstores have played a pivotal role in book publishing for centuries, but the rise of ebooks and digital publishing poses a threat. While ebook sales are growing significantly each year and capturing a larger share of the overall book market, they still only account for around 20% of total industry revenue. Research also indicates that many readers still prefer printed books to ebooks, as ebooks do not provide the same cognitive benefits and are less intuitive to use. Additionally, surveys show that most customers still prefer to purchase books from physical bookstores rather than online. Therefore, while digital formats are becoming more prominent, traditional bookstores still have a future if they adapt by creating hybrid online/physical models, expanding their services, and holding
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Future of Bookstores in Digital Era
1. Interpersonal Skill Class Final Assignment
Is there a future for traditional bookstore in a
digital era?
Original by Siti Salwa Syafawiyah
1406571754
2. Is there a future for the traditional bookstores in the
ongoing digital era?
Since 300 BC, traditional
bookstores have always
played a pivotal role in
book publishing in general
Situation QuestionComplication
But, the ongoing digital revolution is
having a major impact on the book
publishing business. In 2012, physical
book retailer suffered the biggest
market share decline from 28.7% to
18.7% of book purchases as the
online channel grew. And today, e-book
sales amount increase to around 20%
of the overall revenue of US trade
publishers.
Is there a future for the
traditional bookstore in the
ongoing digital era?
3. 0
10000
20000
30000
40000
50000
60000
70000
80000
90000
100000
2015 2016 2017 2018 2019 2020
Revenue(US$mn)
Print Book Revenue
E-book Revenue
Source: Global entertainment and media outlook 2016-2020, PwC, Ovum
-0.4% CAGR
10.4% CAGR
E-books to hit the book business was inevitable but it is coming faster
than almost anyone expected
as PwC projected that the growth of its revenue will continue until 2020
E-books are indeed predicted growing at the expense of print
but it will only account for a small proportion of total revenue
4. Digital continues to be an important part of the industry due to its
practicality but it can’t replace cognitive elements that printed books bring
Researchers at James Madison University
suspect that grokking the content of eBooks
takes longer times and more effort than
reading the content of printed book.
.
A study at Ryerson University noted that
readers felt they had to remember to search
for the electronic sticky note in contrast to the
easily observable paper sticky notes.
Study from tech-centric Hewlett-Packard found
that those in college who had tried both types of
print book and eTextbook had strong preference
for printed books.
74%
26%
Percentage of Preference
Print book
eText book
Source: www. globalbooksales.com
Ineffective Reading Comprehension
Print book becomes college student
preference because…
Researchers study that eBook still fail
to connect with readers
Non-Intuitive Tool
5. Researchers founded that most customer preferred mode
of book purchasing is from the bookstore
Based on the survey in 2013, the most
customer preference of book purchasing
is by visiting book store1 and….
No
Customer
Preference
Weighted
Scores
Rank
1 Home Delivery 217 4
2 Online Order 303 2
3 Book Store 348 1
4
Shopping
Center
226 3
5 Others 106 5
This year, Omnichannel Shopping
Preferences also notes that 82% of all
U.S. retail book sales still happen in
bookstores
82%
13%
5%
Customer's Preference
Location
Bookstore
Amazon.com
Other e-
commerce
Source: www.flavorwire.com
1 Sindhu, Dr. , 2013. Retailing of Books: An Empirical Study of
Customer Buying Behaviour. International Journal of Management
and Social Sciences Research (IJMSSR), Volume 2, 6.
6. Categories
So what is the answer of problem about the future of the
traditional bookstore in the digital era?
Revenue
Projection
Reading
Preference
Detailed explanation
E-books can’t replace cognitive elements
that printed books bring so it still fail to
connect with readers
There is still
a future for
traditional
bookstore in
the digital
era
Researchers founded that most customer
preferred mode of book purchasing is from
the bookstore
Customer
Preference of
Book
Purchasing
E-books are indeed predicted growing at
the expense of print but it will only account
for a small proportion of total revenue
7. Some recommendations needed to solve this problem
as traditional bookstores must strive in the digital era in order to sucess
Holding innovative events which include book
launches, interactive discussions with authors,
book reading sessions, etc.
2. Housing all books demand1. Building Hybrid Model
4. Holding Innovative Event3. Expanding service offerings
Retailing of books need to be in hybrid model
in which the business has both a physical and
virtual presence
Book retailers must expand the offerings
within the book stores like provisioning coffee
shops, place to sit and read and internet
access
Books stores housing all the categories or
subjects of books that customers demand will
fulfill their need to visit the stores