A Tipping Point in Books

Always be looking ahead to see where your market or industry is headed.

What are the trends? What are the ramifications of those trends?

This summer marked a tipping point in the book industry. From Bloomberg as reported by the July 30, 2010, issue of The Week:

The e-book revolution has reached a tipping point. Amazon.com CEO Jeff Bezos said this week that his company now sells more electronic books than hardcovers. It’s “astonishing,” Bezos says, “when you consider that we’ve been selling hardcover books for 15 years, and Kindle books for 33 months.”

Ebooks are dead? Hardly.

The ebook market is growing while the print book market is shrinking.

• This is why Barnes & Noble and Borders are struggling to stay afloat.
• This is why B&N released their own e-reader called The Nook.
• This is why my local B&N has reduced floor space for book shelves and now has a dedicated selling area for The Nook right when you walk in their front doors.

Try to spot the trends in your industry. Figure out how you can profit from them so you don’t get left behind.

-Ryan M. Healy