Higher book prices contribute to UK market growth
The UK book market’s consistent growth over the last decade can be attributed to a steady increase in the average selling price (ASP) of books, reports the Bookseller.
While volume sales have remained flat, increasing by just 0.5% between 2014 and 2019, the total market value increased by just over 10%, or £153 million (A$290m), in the same period.
Over the last 10 years, the ASP has increased steadily from £7.51 (A$14.40) in 2010 to £8.70 (A$16.68) in 2019, with last year’s 22.9% reduction from recommended retail price the lowest since 2003.
The Bookseller attributes the rise in ASP to the resurgence of independent bookshops, and the waning market share of deep-discounting sectors, particularly supermarkets.
Category: International news