Ebooks have many advantages over their print counterparts, such as easy storage and portability, as well as a generally lower price. For some time, publishers and bookstores feared that ebooks would make print books obsolete, threatening to put many people out of business. For several years, ebook sales eclipsed hardcover sales, with almost a third of all US adults owning e-readers. However, Infiniti Research notes that this trend is changing, and print books appear to be making a comeback.
In 2016, hardcover books outsold ebooks for the first time in five years, according to NPD BookScan. In 2015, the number of US adults with e-readers fell to 19% of the population. Major publishers are seeing ebook sales begin to plateau or fall. In the UK in 2016, sales of consumer ebooks reached their lowest level since 2011.
There are a few different drivers of this change. Publishers have been raising the average prices of ebooks, from $6 to almost $10 in 2015. This removes some of the advantage these books have over print. The prevalence of smartphones may also be hindering ebook sales. As more people buy and rely on expensive smartphones, they are less likely to want to invest in and carry around a separate expensive device that can only be used for reading books. However, while smartphones and tablets can also be used to read ebooks, the experience isn’t as pleasant as on an e-reader, so people may be more inclined to pick up a physical book instead. The multiplicity of ebook formats and the fact that consumers technically license them rather than own them are also strikes in favor of print.
Looking for additional related market research? Request a free proposal
How can Infiniti Research Help You?
Every market is subject to a variety of exterior and interior forces. Sometimes these forces mean something that seemed like a guarantee is suddenly very uncertain. It can be difficult to keep track of all the trends and influences in the market, or to predict what the landscape will look like just a few years in the future. Market intelligence can help keep you on top of new developments and prepare for future changes, as well as examine consumer preferences and the actions of your competitors.
Infiniti Research recently completed a market opportunity and competitive assessment of the global stock images marketfor a client that wanted to know about the current and future market landscape and competitive dynamics of the market. Infiniti’s research specialists provided actionable insights into the market and helped the client gain a better understanding of the pricing structure and strategies of its major competitors.
Request a brochure and see how you can benefit from Infiniti’s services.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
With 13 years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.