Daily Bulletin

The Conversation

  • Written by The Conversation
imageActor Taylor Kinney leaving the much loved City Lights Bookstore, San Francisco.Kanaka Menehune/Flickr, CC BY-NC

In a business environment that has seen industries decimated by the rise of digital, one sector showing resilience is that of books.

“Books are not like recorded music,” says Shaun Symonds, general manager of Nielsen Bookscan.

If anything, the total global market for books is growing, as confirmed in research by PwC and others:

imageTotal Market for Global Books Continues to Grow PwCGlobal entertainment and media outlook 2015–2019, PwC, Ovum

If you adjust for the effects of the closure of major book chains such as Borders there is in fact only one or two years of decline in sales volume over the last decade in most major markets. Every other year including the most recent year’s figures reflect a modest year-on-year growth in total books (including eBooks) sold on the year before.

That’s not to say there’s not been significant disruption and consolidation in the industry. A large part of the highest-value highest-margin segments of the business such as hardback fiction are steadily migrating to eBook and online fulfilment. And of course the rise of online pure-play booksellers such as Amazon, Flipcart and The Book Depository has meant a new level of global competition for local independent bookstores and chains alike.

The migration to eBooks has meant the total dollar value of books sold has declined but the profitibility of some publishers has actually increased as they’ve removed a lot of their printing, wharehousing and distribution costs. A growing source of the industries profits are from eBooks at analysis by Bain shows.

imageGrowing share of profits from eBooksPublishing in the Digital Era, Bain 2011.

On the retail front while some bookshops have not managed to survive this last decade, many have held on. And some are thriving and flourishing - delighting their customers in ways only they know how. And being remembered for it.

imageThe long-established Shakespeare & Company featured in Woody Allen’s film Midnight in Paris.Tamara Craiu/Flickr, CC BY-NC-ND

In an economy increasingly governed by attention, the need for companies and retailers to have their brands recognised and remembered has never been greater. Being forgotten is one of the greatest clear and present dangers in the global, web-connected and digital economy.

Using web data it’s possible to measure the collective visibility of today’s leading bookstores from around the world.

Towards a global Top 40

Novelist & co-creator of kids TV series Hi-5 Posie Graeme-Evans recently wrote about her Top 10 Favourite Bookstores.

What if you could find out who everyone’s favourite bookstores were, around the world? And what if this list included all the legendary independent stores like Shakespeare and Company in Paris, as well as online bookstores like Amazon and bookstore chains like Waterstones, Barnes & Nobles and Dymocks. Using large scale data collections from the web, I set about doing this.

The Top 40 Bookstores list is based on how many people think about these stores and how often.

Perhaps not surprisingly online stores lead the list with Amazon.com followed by the online goliath Flipkart of India just ahead of the world’s largest bookstore chain Barnes & Noble. France’s giant cultural and electronics retailing chain Fnac is fourth with the UK’s largest bookstore chain Waterstones rounding out the top five.

What may come as a surprise is leading independent single stores or small chains including Shakespeare and Company (Paris); Powells (Portland) and City Lights (San Francisco) all feature in the top 20.

Here is the list in full:

World's Top Bookstores 2015
 
#BookstoreTwitterHQ Country
1Amazon.com@amazonbooksUS
2    Flipkart@FlipkartIndia
3Barnes & Noble@BNBuzzUS
4Fnac@FnacFrance
5Waterstones@waterstonesUK
6The Book Depository@bookdepositoryUK
7AbeBooks@AbeBooksCanada
8Shakespeare and Company@Shakespeare_CoFrance
9Books-A-Million@booksamillionUS
10Hay-on-Wye@Hay_On_WyeBooks  UK
11WHSmith@WHSmithUK
12Infibeam@infibeamIndia
13Chapters Indigo@chaptersindigoCanada
14Powell's Books@PowellsUS
15City Lights Bookstore@CityLightsBooksUS
16Blackwell UK@blackwellbooksUK
17National Book Store@nbsalertThe Phillipines
18Alibris@alibrisUS
19Foyles@FoylesUK
20Eslite Bookstore@esliteTaiwan
21MPH Group@M_TWEETbyMPHMalaysia
22Hudson Group@hudsonbooksUS
23Books Kinokuniya@KinokuniyaJapan
24Fishpond@FishpondcomNZ
25Strand Bookstore@strandbookstoreUS
26Hastings Entertainment@goHastingsUS
27Half Price Books@halfpricebooksUS
28Popular Holdings#popularworldSingapore
29Livraria Cultura@livculturaBrazil
30Higginbotham's#higginbothamsIndia
31Landmark Bookstores@landmarkstoresIndia
32Hatchards@HatchardsUK
33Fopp@foppofficialUK
34Dymocks Booksellers@dymocksbooksAustralia
35Harvard/MIT Cooperative Society  @harvardcoopUS
36Eason & Son@easonsIreland
37NewsLink#newslinkAustralia
38Archambault@archambaultCACanada
39Kyobo Book Centre@withKyoboBookKorea
40Hodges Figgis@Hodges_FiggisIreland
 
Ranked by Bookstore Mind Share 1.01; Paul X McCarthy, June 2015.

The methodology

To create the Top 40 I created a “Bookstore Mind Share” (BMS index) derived from web data such as global visits to each bookseller’s Wikipedia page. This approach is a proxy for popularity or notoriety. I then standardised the results to allow comparisons across categories and across the world. As the BMS is based on the English-language web it is mainly representative of English-language countries and English-language bookstores but interestingly still includes bookstores in Korea and Brazil.

By using a standard measures across global web platforms like Wikipedia traffic data, Google Books N-Gram and Google search term frequency you can create interesting and fascinating comparisons that span across time and geography.

Another example of this type of web data use is the MIT Media Lab’s Pantheon project where you can browse rankings of many people across history from ancient times to today including:

This is an experimental data project and I would encourage readers to comment or make suggestions for improvements or additions.

Paul X. McCarthy does not work for, consult to, own shares in or receive funding from any company or organisation that would benefit from this article, and has no relevant affiliations.

Authors: The Conversation

Read more http://theconversation.com/worlds-favourite-bookstores-ranking-shows-enduring-market-43049

Writers Wanted

Australian Businesses to Be Proud Of

arrow_forward

5 Fun Ways To Help Your Child Develop Motor Skills

arrow_forward

The Conversation
INTERWEBS DIGITAL AGENCY

Politics

Prime Minister Scott Morrison's interview with Ray Hadley, 2GB

RAY HADLEY: Prime Minister, good morning to you.   PRIME MINISTER: G’day, Ray.   HADLEY: Gee, you’ve had a week.   PRIME MINISTER: Well, there's been a lot of weeks like this. This time last...

Scott Morrison - avatar Scott Morrison

Ray Hadley's interview with Scott Morrison

RAY HADLEY: I'm going to go straight to the Prime Minister, Scott Morrison is on the line right now. Prime Minister, good morning to you.    PRIME MINISTER: Good morning, Ray.   HADLEY: Just d...

Ray Hadley - avatar Ray Hadley

Defence and Veterans suicide Royal Commission

Today the Government has formally established a Royal Commission into Defence and Veteran Suicide following approval by the Governor-General.   Prime Minister Scott Morrison said the Royal Commi...

Scott Morrison - avatar Scott Morrison

Business News

How to Make a Profitable Put Call Spread Using an Automated Calculator

Amateurs who first start trading in the stock market often get baffled by the fluctuating and volatile stock prices. It is necessary to do some homework in understanding the trade market before ju...

NewsServices.com - avatar NewsServices.com

Why it takes time to buy a business

Covid has sent shockwaves through the business for sale marketplace. At Bsale we are finding there are now more buyers in the market than sellers which creates a unique opportunity. With enforc...

Vanessa Lovie - Bsale CEO - avatar Vanessa Lovie - Bsale CEO

4 Ways To Make Your Business Look Nicer

If you own a business of any kind, you already know the importance of your building looking nice both inside and out. The more presentable it looks, the more professional it looks. A professional lo...

NewsServices.com - avatar NewsServices.com