BOOK RETAILING MARKET

Book Retailing Market



Book Retailing Market

Introduction

Retail industry is one of the most popular industries in the world. It is the industry which provides the maximum profit. It is the most common industry which every country has, be it underdeveloped country, developing country, or developed country. The economy of the book is the branch of the economy of culture that looks at the conditions economic writing, to editing, to distribution and marketing of books and more generally periodic. The specific problems of the economy of the book is the tension between the central role of books as vehicles and expressions of cultural and nature of industrial products manufactured by commercial companies. Therefore, the emphasis is on studying economic and contractual relations between authors, the publishers and booksellers, as well as modes of public intervention, whether the establishment of infrastructure or legislative action (book price).

From the viewpoint of economics, reading and editing are respectively the supply and demand on the market for books. Internationally, the situation in this regard is very different. The book sale goes through three main channels: retailers, book clubs and direct sales by publishers. The use of these three channels varied greatly across countries. The sensitivity of the demand for books at prices of books is the subject of controversy among economists. The United Kingdom's book retail market over the past four years gradually shrinks - the most significant drop of 3% was in 2009 with a more relaxed, but still falling curve in terms of money (UK book retailing , 2007).

In 2010, the overall sales of the retail industry UK comprised of £293 billion. In terms of supply, the economy of the book argues on two different units, on the one hand the "title" (characterized by a text and editing) and also the "exemplary", the book itself. In terms of titles, production increased in virtually all OECD countries since 1975. This is linked to rising incomes and the education level of the population.

Discussion

The UK has been emerging from one of its worst recessions since the 1930s, which saw the economy contracting by almost 7%. Concerns also abound concerning the high level of unemployment which persists in the country, expected to reach 8% in 2011spelling potential disaster both for the economy and the government, since job creation remains crucial to successful recovery. Retail of book sales showed further growth in current value terms, in 2010, but at a continuing slow rate. The unstable economic situation resulted in consumers continuing to take a fairly cautious approach to their spending. There was a noticeable shift in where consumers chose to shop, with no longer being considered embarrassing to be seen to be bargain-hunting. The big four supermarket chains faced increasing competition from cheaper retail channels such as discounters and internet retailing, with supermarkets and hypermarkets seeing falling growth in current value terms (Retail Productivity, 2005).

In 2000, the European book market represented 27 billion Euros of sales. The publishing market with a structure of oligopoly with fringe, a large ...