Book Stores in the US - Industry Market Research Report

Book Stores in the US - Industry Market Research Report

Book Stores in the US

Book stores have been fighting an uphill battle for years. Consumers have gone increasingly digital, replacing physical books with smartphones, where streaming services and social media have quickly transfixed users. For avid readers, e-books and audiobooks have been able to fill their shelves instead. Yet, the biggest disruptor to book stores has been Amazon. The largest bookseller in the world, Amazon has strengthened its hold of the book market through low prices and convenience, transforming the competitive landscape of small, local shops to leaders like Barnes and Noble. While many figured book shops were in their final chapter after years of shrinking profit, trends stemming from the pandemic have reversed this thinking. COVID-19 did introduce steep financial challenges for book stores, but showings of strong local support and renewed interest in reading have led to unprecedented sales spikes. Heightened consumer spending on books post-COVID has offset earlier declines, leading industry revenue to grow at a CAGR of 2.0% to an estimated $13.6 billion over the past five years, including an expected 0.5% increase in 2023.

Companies in this industry primarily retail a broad range of books, newspapers and periodicals, including trade books, textbooks, magazines, paperbacks and religious books. These goods are purchased from domestic, and in some cases international, manufacturers and wholesalers. Operators then retail these goods to the general public through industry stores. This industry excludes retailers that operate primarily as used merchandise stores or electronic shopping and mail-order houses.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.