August 2020 Book Industry Overview: Topselling Literature Genres and Additional Information
Hey there! It's all about that digital book action this year! With more folks staying in, entertainment at home is where it's at – and books are no exception. Since COVID-19 hit, our digital book sales took off, up by 20% in March and 23% in April.
You'd think the growth would've slowed as the world reopened, but surprise, surprise – it kept going! In July, we saw another 20% rise compared to June. By August 2020, compared to August 2019, sales were up by 69%. Compared to July 2020? Just a 5% increase.
We've been keeping track of all this, spilling the beans monthly on our blog since March 2020. So, whether you're a traditional publisher or an indie, transitioning to digital has never been swept under the rug.
Now, here's what's hot in the world of books:
Fiction, Non-fiction & Sci-fi Rule: Action & Adventure, Crime, Thriller, True Crime, Sci-Fi, Fantasy, and Romance genres are worth their weight in gold. In romance, it's all about Time Travel and Action & Adventure. Think Crime, Espionage, Historical, Military, and Psychological in Thrillers. Non-fiction saw steady growth, especially in Biographies, Body, Mind & Spirit, Business, Family & Relationships, Health & Fitness, Psychology, and Self-help.
International Growth: It's not just the US that's rolling with the digital book wave. Global markets are on a roll too, capturing 70% of our website's overall sales. The UK and the US are predictably solid players based on sales value, but countries like the Philippines, Chile, Colombia, Mexico, Peru, Denmark, Germany, Ireland, Portugal, Romania, and Switzerland are making moves. Surprisingly, Technology books saw a whopping 600% boost via Google Play Books, while House & Home started to catch on via Apple and Kobo.
In the great race between retail, subscription services, and digital library providers, retail clawed its way to the top with a 61% increase in one year. Subscription services and library sales help chase retailers closely, with a 90% and 112% increase respectively. Folks in Australia, Canada, Chile, Denmark, Mongolia, Norway, Peru, Philippines, Portugal, South Africa, Spain, and the UK led the charge in growth.
Price Promotion Tactics: Want to make a big splash in the book market? Try a price promotion campaign. The magic number seems to be around $9.99 for successful ebooks. These campaigns typically run for 1.5 weeks before sales start climbing. On average, you can expect 10x growth when you play your cards right.
All in all, the book market's in a golden era for digital publishing, and if you ain't selling online yet, it's high time to jump on the bandwagon. Stay tuned for more updates on our blog every month!
In the digital publishing sphere, the traditional and indie publishers are learning to adapt as business sales continue to thrive online. Fiction, non-fiction, and sci-fi genres are dominating the market, with genres like Crime, Thriller, Time Travel Romance, Biographies, and Self-help all experiencing significant growth. Additionally, global markets are embracing digital books, with the UK, US, and unexpected nations such as the Philippines, Chile, and Denmark leading the international growth trend. Therefore, it's essential for publishers to focus on online sales strategies, price promotion tactics, and platform choices to stay competitive in the flourishing digital book industry.
