Consumer Book Sales Up Six Percent in 2003

Posted on June 18, 2004

Driven by gains in religious texts, children's and young adult hardcover, audio books, and ebooks, overall sales in the consumer publishing sector rose 6.3 percent in 2003, according to figures released by the Association of American Publishers. Adult hardcover and adult mass market, which between them account for 54 percent of vonsumer book market sales, were virtually flat in 2003. The data was contained in a new report, Consumer Books and Materials, released to the press and the public at BookExpo America in Chicago.

A seperate report on last year's book sales, this one from Ipsos BookTrends, found that book sales actually dropped by 2% in 2003. Meanwhile, a study from R.R. Bowker reported that the number of new books published jumped 19% in 2003 to 175,000. Therefore, while the number of books being published greatly increased in 2003, book sales either decreased (-2%) or increased slightly (6.3%) depending on which study you refer to.

The AAP report showed that adult hardcover, which makes up 27 percent of the consumer sector, grew by only 1.4 percent. Adult paperback, which makes up 20 percent of the sector, grew at 6.9 percent. Children's and young adult hardcover, comprising 10 percent of the sector, grew by 19 percent. Religious publishing, comprising 5 percent of the consumer sector, grew by 37 percent. Adult mass market, which at 27 percent is the largest segment of the consumer publishing sector, grew by 2.0 percent when measured in dollars but decreased by 2.1 percent when measured in units. Audio book sales increased by 13 percent and electronic books, which grew by 45 percent, continued their explosive growth, albeit from a base which represents only a tiny portion of the consumer sector.

Returns from retailers throughout the consumer sector continue to be a problem for publishers. In 2003, consumer returns were 8 percent higher than in 2002. The magnitude of the problem is reflected in the fact that mass market book returns reached an average of 41 percent of sales and adult hardcover returns reached 31 percent. Audio books, which like texts are distributed as a physical product, had a 24 percent return rate. On the other hand, electronic books are never returned.

Publisher price per unit in the consumer sector rose 3.7 percent in 2003; the largest increase (12 percent) occurred in the increasingly popular audio segment. The price per unit, at the publisher's level, rose to $11.50 for an adult hardcover book and to $4.10 for an adult mass market book.

The AAP report shows that bookstores continue to be the most important distribution channel for adult hardcover books, accounting for 52 percent of publishers' sales. Similarly, children's and young adult hardcover and paperback books are distributed primarily through bookstores. The principal distribution channel for adult mass market and religious books are through jobbers and wholesalers to retail chain and big box stores. However, 26 percent of all religious books are distributed direct to the consumer.



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