The Publishing Horizon

Market size of book retail in India

Technopak Advisors claim in the Business Standard that

The Indian book retail industry is estimated to be over Rs 3,000 crore, out of which organised retail accounts for only 7 per cent.

The industry is expected to grow by approximately 15 per cent a year.

Book retail contributes only about 1 per cent to the overall retail industry. Text and curriculum books account for about 50 per cent of the sales. Second-hand books are also a big chunk of the book retail market.

In the past few years, several large format book store chains have come up, such as Landmark, Crossword and Om Book Shop.

Book retailers are focusing on improved customer experience. Many book stores have also introduced coffee shops and provide a library-like atmosphere where customers can sit and read, while sipping coffee.

I expect better from Technopak Advisors. This kind of estimate is such a generic and meaningless estimate with no information on the basis for it, that I would discount this completely. It doesn't give me any data or insights that I can trust or use. They seem to be saying something for the sake of saying it and meeting a weekly deadline. It also does no good for their brand - I now wonder about all their other estimates of market size.

The sad part is that there is little or no other data on book retail out there and this is likely to be taken as correct and quoted over and over again by virtue of being the only data on the Indian book retail market out there. Use it as you please, but don't get taken in by it.

Reading Spa: A great bookselling idea

From The Penguin Blog: In praise of independent bookshops

But [Mr B’s Emporium in Bath, England] have also started what I think is a brilliant initiative. It’s called a Reading Spa: for £55 a person gets an hour of undivided attention from one of their extremely nice and knowledgeable booksellers. You sit and have tea and cake and talk about what you like, what you don’t like; they talk about what’s come out recently, what’s selling well. Based on this, they then go away and come back with a pile of books. £40 of that £55 goes towards these books, plus of course any extra you want to spend. So far they’re doing at least one a week and one chap spent an extra £400 a couple of weeks ago.

I wonder if bookshops in India would think of something like this. Maybe not since the floor staff are not very well informed these days.