Online book sales outstrip offline in Covid-19’s wake
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With the coronavirus pandemic prompting the growing popularity of ‘untact consumption’, South Korea’s publishing industry is seeing online book sales outstrip offline sales.
Kyobo Book Center, the No. 1 online and offline bookstore in South Korea, says that its book sales via mobile and web platforms this year comprised 33.4 percent and 22.9 percent, respectively, of total sales.
Offline sales, in contrast, remained at 43.7 percent. It is the first time that the bookstore’s online sales jumped ahead of offline sales.
Experts argue that the coronavirus outbreak has prompted consumers to purchase books through mobile or online platforms instead of visiting offline stores.
The coronavirus has also influenced book sale trends, in which sales of books related to science jumped by 46 percent while sales of publications on politics and society, economy and management jumped by 39.7 percent and 24.4 percent, respectively, compared to last year.
Most of the books involved how to deal with the coronavirus, and prospects in the post-pandemic world.
On the other hand, books on tourism plunged by 54.1 percent in sales, followed by magazines (-20.4 percent), cartoons (-10.6 percent), foreign books (-10.1 percent), poems and essays (-6.7 percent), and cookbooks (-5.3 percent).
Questions & Answers
Q.What proportion of total sales at Kyobo Book Center are now generated through online channels?
What proportion of total sales at Kyobo Book Center are now generated through online channels?
Sales through mobile platforms accounted for 33.4 percent of total sales, with web platforms making up a further 22.9 percent. This means online sales combined are now 56.3 percent of the bookstore's total.
Q.Which book categories have seen the largest sales increases since the coronavirus outbreak?
Which book categories have seen the largest sales increases since the coronavirus outbreak?
Science-related book sales rose by 46 percent, while publications on politics and society increased by 39.7 percent. Economy and management books also saw a significant jump of 24.4 percent compared to last year.
Q.Which book categories experienced the biggest decline in sales?
Which book categories experienced the biggest decline in sales?
Books on tourism saw the sharpest fall, plummeting by 54.1 percent in sales. Magazines dropped by 20.4 percent, followed by cartoons (-10.6 percent), foreign books (-10.1 percent), and poems/essays (-6.7 percent).
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