The Tipping Point for Books
has been reached. eBooks are replacing conventional (dead wood) books at an increasing rate. The local bookstores are already gone and the big ones will follow soon. Some interesting facts:
1. Amazon is both the largest American and International seller of books with Barnes and Noble second and Borders third. On the current sales trajectory, Amazon will be larger than both of them combined by the end of 2010.
2. For all of their bestseller lists and the NY Times bestseller list Amazon eBooks outsell the sales of paperback and hard cover books combined.
3. Barnes & Noble put itself up for sale earlier this year because of declining sales volume, is remaining somewhat profitable thanks to Nook sales.
4. Borders is now closing stores at an accelerating rate and has it store sales falling by double-digit percentages. They may wind up in default on their debt in the early months of 2011.
Most of us will miss the shelves of books that are a part of our home and the feel of a beautiful, leather bound piece of art. But we will wind up not missing them and embracing the new technology. After all, who wants to go back to mucking stalls?
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"Liberty means responsibility. That is why most men dread it." - George Bernard Shaw
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