Canadian retail blogger, PaulThinkingOutLoud was upset recently by one publisher’s website and its aggressive discounting policy. Writing in his blog – which is well worth following – he saw this as
‘Another example of a publisher or distributor bypassing the brick and mortar stores. Although some of this might be legitimate overstock inventory, it raises the expectation of consumers for this level of discounting to be normative, which adds to the discouragement of already battered retailers’.
In another post, Paul writes movingly of competing emotions during the closure of one of his stores. He ends with an appeal to press on towards the goal of in-store ministry.
Do you feel battered by falling sales or emboldened by spiritual opportunity? Yes, Christian bookshops continue to close, footfall is in decline, competition from online is savage and at best support from churches is patchy. Yet we are not always that well informed of current trends in the wider publishing scene. In the same way as what happens in the USA often affects the UK, the same is true of events in the general market impacting the Christian trade.
Generally speaking, our grasp of the financials on both ‘sides’ is often lacking. Retailers operate on lower margins with high fixed costs (upward only rents, rising business rates – up 2.6% again in April) whereas publishing in the main has higher margins and a far more flexible cost base. Clearly there are worries on all sides and as publishers face lower physical sales, print-runs continue to fall making the viability of mid-list titles ever more tenuous. Many publishers struggle with storing high levels of physical stock, much of which will eventually be written-down. Ironically for publishers, digitalisation represents yet more cost and a growing overhead; this, coupled with falling average cover prices (ebooks sell at half the average price of a paperback: £3.21 v. £6.31).
Our industry is a torrid place. The physical consumer book market declined by 4.6% in value in 2012, with fiction down 4.5% and non-fiction down 6.3% – only Children’s books held steady. The value of print sales slumped by £74m last year. (It could be worse – in Australia their market fell 6.3%). The marketplace churns violently in a volatile landscape; over 200 libraries were closed between 2011/12 and in another sign of turbulence, Cambridge University Press ceased print production on their Cambridge site after 400 years.
Yet 2012 saw the continued growth in digital publishing, social media marketing and self-publishing. Hive became established. Amazon’s Kindle grew faster than ever and a number of other e-readers, notably Nook, Kobo, and Nexus gathered momentum. Controversially Waterstones began to sell Amazon’s Kindle, recognising that they had neither the time nor money to develop their own platform. The Fifty Shades publishing phenomenon came out of nowhere ending the year with sales of £47.3m.
The market for ebooks was revised upwards to £300m late last year and continues to grow, albeit more slowly. Major publishers report e-sales of between 8% and 17% of overall revenue. In November, the ebook agency price probe in the USA and the EC brought a chill to the major houses as they battled against what felt like unfair external pressures. Now ebooks sell for an unsustainable 20p (a marketing idiocy pioneered by Sony) and most slots in the Kindle top 20 are populated by cheap ebooks. Nielsen data suggest that there are 7m UK ebook adopters, with heaviest use amongst ages 35-44, lowest in the under 20’s. However, the BBC reports that just as many UK adults, 7.4m or 15% of the population have yet to access the Internet.
Bookshop closures continue apace with The Booksellers Association figures documenting ongoing decline: down to 1,028 shops (2012) from 1,535 in 2005 – conversely Children’s bookshops are thriving with more opening this year. In the USA, the one surviving major bookstore chain, Barnes and Noble announced after Christmas that they expect to slim down store numbers by a third. B&N have 689 stores currently with 190-240 of these slated to close over the next decade. It’s a widely held view that the holy grail of ‘Discoverability’ is best achieved in a physical bookshop; browsing activity is their USP.
The debate over the future of our libraries is equally as fierce. The UK Government’s Sieghart ebook library lending review is yet to report but author, Terry Deary said recently: ‘Libraries have had their day. They are a Victorian idea and we are in the electronic age’. How to win friends! It’s worth noting that the PLR on printed books from library lending is more than £6m paid out to 23,000 authors. The debate remains live as people continue to ask if digital will trounce the physical book or whether in due course it will all settle down benignly?
There’s a lot of anger amongst booksellers towards the perceived lack of a level playing field. Writing in The Bookseller, Charles Tongue of the Stroud Bookshop said, ‘I believe Publishers are blindly colluding with Amazon and the result will be the destruction of High street retailing’. He was widely applauded.
I like Foyle’s of London advertising slogan; This Bookshop Will Change Your Life – no ambiguity there! Earlier this year, Sam Husain, CEO of Foyle’s sent an open letter to publishers arguing the need for better terms (an average of 60%) and increased support (promotional stock on consignment). He stated that the current bookshop model is broken, needing a complete rethink. This at a time as Foyle’s announced eight redundancies. Bravely, Foyle’s and The Bookseller have since conducted a two-day ‘Re-imagining the Future Bookshop’ workshop, held in London, allowing the trade to collaborate on what the bookshop of the future might look like.
WH Smith continue to do a sterling job in showcasing books but even their sales fall year on year; down 7% to the end of August 2012 and down a further 6% in the 20 weeks to mid-January 2013. Another indication of the parlous state of the High Street trade is wholesaler Gardners sales results which dropped 3% to the end of February last year. Blackwell’s did improve their results last year but remain loss making.
Waterstones is far from being out of the woods with the release of poor results (admittedly pre-James Daunt) showing a £37.3m loss. I wish Waterstones well because if their 290 branches were to disappear from the High Street then it would be a very serious matter, and I might add, particularly for publishers. However, I’m encouraged for two reasons: anecdotally, people seem very warm towards the ‘W’ brand and some are switching their buying away from the mighty ‘A’. The question is, will it be enough? Waterstones iconic branding campaign last autumn was well received and this year it has plans for the refurbishment of another 60 shops.
My other reason is that when I visit Waterstones, they generally prove to be busy places and people are markedly buying books. It’s just a shame that Waterstones do not ‘do’ Christianity better and with more visibility. On a positive note, I welcome the announcement by Waterstones of the launch of its staff-training academy and Certificate in Bookselling (accredited by the University of Derby); surely a vote of confidence in its own future by a visionary book chain?
Maybe I’m pipe dreaming? After all, Amazon had overall sales in the UK in 2011 of £2.91 billion (on which they famously paid £416m UK tax). They reported Q4 worldwide revenue growth of 22% to £13bn last Christmas! Latest innovations include customer collection lockers in railway stations and newsagents. This is an immensely powerful online juggernaut and our small trade faces a very significant challenge indeed!
Yet I dare to believe that localism can prevail, customer attitudes can change and that people continue to care about their local shops – you must just hope that I am right! The demise of retailers, Jessops and Blockbuster earlier this year followed by HMV going into administration shows just how tough conditions are. Incredibly, HMV was selling 27% of all CD’s and 38% of DVD’s at the time of its demise.
I would echo Philip Downer’s (ex-Borders) comment from last year;
‘The old days of Borders and Ottakars will not return … Coffee, carrot cake, cards and an ebook offer are now essentials for Indies who want to stay in business and thrive for the future’.
We have to give customers a reason to come to our shops. Why should they shop with you? I was recently handed a forward-dated 15% off voucher for a national (non-book) retailer. It worked. I visited the shop on the stated date, I used my voucher … and I bought far more than I had intended. In the Christian trade we must start thinking more creatively and connecting with customers in a very different way to the past.
Church engagement is a hugely important topic that needs far greater attention and one to which we shall return in the next issue. Many shops find difficulty in communicating with ministers. An earlier church / retail compact has seemingly broken down as leaders shop around – usually online – driven by ‘best price’ owing to the Churches’ own financial constraints. Managers struggle to venture outside their own premises due to low staffing levels or sometimes, unwillingness. And yet, somehow, retailers have to get back in touch with their core customer base – the Churches.
The days of waiting for a church to contact you are long gone. It’s often a salutary task to record daily footfall and till data – but it may just serve as the severe jolt you need in order to take action?
This article was written in early March 2013 for Together Magazine (April – May 2013)
I attended the London Book Fair at Earls Court this week; the first time in several years. I was left with several over-riding impressions.
The Fair remains the premier International Book Fair. It was busy – very busy – with 25,000 delegates, half from overseas, attracted by the 1,500 exhibitors from 57 countries. The Bookseller suggested that the USA DoJ ruling on the Agency Model (eBook pricing) had dampened the mood considerably for rights sales.
I am very much against this ruling as it simply hands yet more power to an already menacing monopoly. I applaud those Publishers who have decided to fight this rather simplistic ruling. Amazon has already done considerable damage to our High Streets, and not just to Bookselling. It’s quite foolish to view Amazon as a consumer champion.
China – this year’s Market Focus - with their visually stunning Fair Pavilion (designed by Yang Liu). The Market Focus logo was in the shape of a hand-fan as used by the Royal Family in China 1500 years ago. LBF reported that China had sent 1,200 people (including 50 authors) representing 180 publishers – quite a commitment! So why China? Well, English and Mandarin are the two dominant world languages and China is a vast country with a 1.3billion population speaking over 50 dialects. It’s projected to overtake the USA as the world’s largest economy within the next 20 years or so, and yet paradoxically it’s still 90th on the GDP index despite its recent spectacular economic growth.
The sheer size of the country with its many regional imbalances and huge social challenges is overseen by the pro-business centralised Government. For the Western creative industries, protection of Intellectual Property and Copyright remains the pressing issue. Good quality translation skills remain scarce.
There is the inevitable controversy over issues of censorship when judged by the ideals of liberal democracy. Indeed, the Fair’s impressive China and Europe Publishing Forum attracted a goodly number of silent placard waving protesters; ‘Free speech is not a crime’, ‘Stop literary persecution’. The London Evening Standard ran an interview this week with the Chinese author of Wild Swans in which she stated that, in her opinion, ‘Censorship in China is worse than it was 10 years ago’.
The Chinese Government oversees all media output through GAPP and it is this body which issues the requisite ISBN’s. Since 1949, China has published around 34,000 titles of British books within China. Apparently, ¼ of all books imported into China are from the UK! Through its 600+ Publishing Houses and with a workforce of nearly 57 thousand employees’, China has the largest publishing output in the world by volume (300,000 titles in 2009). It’s a mature and self-confident market set to generate revenues of $9.5billion in 2012. China is poised to take over from the USA in levels of scientific journal publishing.
There are 167,000 bookshops across China, with some state-of-the-art seven-story bookshops in the largest cities. The number of bricks and mortar shops is growing by almost 5% per year! The state-run chain, Xinhua (new China) has 6,483 outlets.
Why is this of any interest to us Brits? Because there are more people learning English in China than anywhere else in the world and more English speakers in China than in the rest of the English speaking world. Language learning is paramount. For publishers, this obviously represents a huge market and a pressing opportunity. There is a very attractive market for educational and English language publishers!
I was very struck by Pearson’s almost evangelical mantra, ‘Not just touching people, but transforming lives through learning’.
Islam – I was forcibly struck by the number of large and impressive Islamic publishing stands at LBF. These were in stark contrast to the mainly small booths of the Christian publishers, aside from the usual welcome presence of Lion Hudson PLC. Islam clearly has plenty of financial backing, is investing heavily in literature and is clearly committed to book distribution in a way that some Christians seem to have forgotten.
Print still dominates, at around 80-85% of the UK market and much smaller elsewhere in the world. We should keep the eBook ‘hype’ in perspective. The digital presence at the Fair was actually quite small, tucked away in one smallish zone. Interestingly, KOBO eReaders have said that 10% of their eBook sales are now for self-published authors. In China, authors are uploading self-published works in instalments, books which are then picked up by publishers and eventually making their way into bookshops; the reverse of our model in the West!
UK Publishers do increasingly view their role as ‘Content Providers’ delivered via various platforms but print currently continues to dominate their activity.
LBF 2012. Quite an event, and yet again, another reminder of just how quickly our world is changing. The tide of globalisation and digitalisation continues to alter the way we all do business yet the basic desire to read remains.
In his summing up, Lord Powell of Bayswater said, ‘The English language is the highway to bring the world to China’. I suspect that China is actually finding her way to the rest of the world!
TMD’s announcement this week of its imminent withdrawal from wholesaling for UK publishers came as no surprise. The surprise to me is that it’s been able to carry on as long as it has.
Even at the height of STL Distribution’s involvement with wholesaling, it was incredibly cash, stock and shelf-space intensive. The breakthrough for STL in those early days came when it moved into trade distribution (starting with Kingsway) and began to develop its own extensive retail infrastructure. Without those two elements, in my view STL may not have survived beyond the 1990′s.
In the late 19980′s, STL tried to emulate the likes of Gardners and Hammicks. Now the competition is even fiercer with Amazon taking on a quasi-wholesale supply role within the book trade. It seems crazy that it makes sense for shops to buy from Amazon and receive better terms than from publishers!
The retail sector has to take its own share of responsibility for the difficulties experienced by suppliers in recent years. Too often shops use their distributors as bankers – by not sticking to agreed payment terms and by often paying late. This has had a rolling, detrimental and destabilising effect across the whole trade putting a lot of pressure on companies’ cash flow.
For TMD to concentrate on its American lists makes a lot of financial sense. These are usually high margin transactions, with stock often placed on consignment and a much healthier impact on cash management. USA Publishers can afford to throw greater margin and to slightly increase their already high print runs for sale to the UK market. One negative effect may be to further accentuate the already disproportionate USA / UK title balance on display within UK bookshops.
The ‘Elephant in the Room’ behind the TMD decision is the hugely shrinking pool of retail outlets for suppliers to sell into. The UK market has lost a very large number of shops in a relatively short period of time. There is simply much less shelf space to go around. There is just not as much business to be had. Everyone involved is ‘competing’ for less space on shelves and seemingly for fewer customers. TMD do not own their own outlets as STL did and so the vertical integration model does not work for them.
I’ve said elsewhere that I wish CLC Wholesale well. However, I remain unconvinced that they can pick up the slack due to two reasons; (1) their remuneration policy which mitigates against being able to attract enough competent and professional staff (no slight whatsoever intended to existing CLC’ers, all of whom do an amazing job in often difficult circumstances) and (2) the need to significantly widen their stock holding policy at the wholesale warehouse level. If these points are courageously and urgently addressed, then the chance still exists for CLC to fill the current vacuum and grow their own market share considerably.
This is now such a seriously changed landscape; one in which specialist Christian trade wholesaling may possibly have had its day. Like so often in life, we’ve gone full circle from a viable wholesale model – brilliantly pioneered for this market by the likes of Raymond Stanbury, Daan van Belzen and Keith Danby– to again buying direct from Publishers with all of the built-in inefficiencies and additional costs. C’est la vie!
I completely understand the current strength of feeling across the Christian retail trade regarding the perceived inequity of Kingsway offering allegedly differing terms to its varying distribution channels.
I admit to feeling uneasy earlier this week with their seeming triumphalism, displayed in the social media, as the new Worship Central album began to sell strongly through the newer channels, then the announcement of its availability through branches of HMV and the unspoken sense that a better job was now being done than by just having to rely on their traditional Christian retail outlets.
The concerns centre around HMV, Amazon and iTunes apparently receiving better margins in order to reach a ‘broader’ market. I have to say that whilst Kingsway are high profile in this and have an aptitude for drawing ‘flack’ fairly regularly, they are not alone in so doing. Doing business with the big secular players is costly, frustrating and was often seen by suppliers simply as an add-on to the traditional market – nice to have if you can get it but not the end of the world if you can’t.
However, that view is rapidly changing as the realities of market share begin to bite. For Christian suppliers, the old retail chain model is ‘holed below the water line’, Indy’s are flat-lining and any growth is elsewhere, not in retail. The truth is, that for most suppliers, our niche retail trade no longer provides the geographic coverage required to get a new product to market. Shops are dwindling and with them, a suppliers ability to reach its market and, more importantly, to sell enough of its initial print-run (in the case of publishers). No wonder suppliers are casting around looking for new, more viable alternatives. I say this, not to excuse such behaviour but to try to help to explain it. Sadly, these are now the rules of the marketplace. It may seem unfair to a small well-run Christian outlet but this is how it is in the real world. It’s not just our trade that affected – it’s happening right across UK retail.
One of our issues is that the retail book world still lives with the ghost of the Net Book Agreement. Yes, it’s long gone but some of us still operate (and think) as though it remains in force. I believe strongly that pricing should be left to retailers and that prices will always remain fluid. In order to compete on the basis of price, then retailers do need to have adequate margin in their armoury. Some suppliers are better than others in this respect. I’m led to believe that IVP and Lion Publishing remain the retailers’ favourites and sadly, it seems, Kingsway continues to draw their indignation!
My experience of dealing with Amazon as a supplier is that they have their own very strict pricing policies which it’s impossible for suppliers to influence – plus they take a far lower margin on a sale in order to attract the customer. It’s very much ‘take it or leave it’ but it would be a brave supplier who opted not to deal with them due to the volumes they are capable of generating. None of us may like this but that’s the truth of it. The same goes for music digital downloads over physical product sales – and who knows where eBooks are heading?
If suppliers are guilty of anything, it’s that they can sometimes seem to take their small retail customers for granted and to put all of their energies into building relationships with new outlets – often secular, mostly larger. They assume the Christian shops will always be there or worse, they assume that most of these shops are on the way out anyway! Recent history has not helped this particular impression! Either attitude is damaging in these difficult economic times.
This issue is a major point of deep contention for both suppliers and retailers. Our brave new digital world is not helping. Everyone in the supply chain is feeling squeezed; small retailers feel unappreciated and powerless in the face of such huge change, suppliers are fighting for volume as they see their product runs ever diminishing and all of us are seeing the rampant switch to digital from print. Is it any wonder we can seem worried and anxious; emotions which are then expressed in a form of protectionism.
Of course, you could argue that we should neither be worried or anxious; indeed we are so commanded in the New Testament. However, reality is often a little different and invades our thinking in more negative ways particularly when it comes down to matters of money and business. Would that it did not – but it does and we need to recognise this fact more than perhaps we do. When suppliers have large payrolls and report to even larger owners, it takes a special kind of courage to manage these often huge and contradictory tensions in trying to make ends meet in the present climate.
I do understand what’s going on because I’ve been on both sides of the argument. Still am. Neither side is fully right, neither side seems comfortable with the other and both feel misunderstood by the other. Not a great place to start when certain emotive ‘triggers’ occur and begin to inflame the understandable indignation. Somehow we have to deal with this or we will be torn apart by it. Our trade, made up as it is of several parties with a common goal of mission – but with very different economic drivers – could so easily degenerate into hostile and divided camps. Some would say these camps are already antagonistic to each other – I pray not.
If we truly believe we are about the Father’s business we should all do better – for the sake of the Kingdom.
Mark 8: ‘What shall it profit a man if he gains the whole world but loses his own soul’?
This list documents some recent ’happenings’ in the wider book trade;
- Online sales now make up 17% of all UK retail spending
- Living Oasis – experiencing ongoing shop closures
- STL Distribution – a further round of redundancies
- Celebrated the 400 year anniversary of the King James Bible (AV)
- Inexorable rise in the sale of eBooks
- PA figures show eBooks grew last year to 6% (£180m) of £3.1bn UK book market
- Scott Macdonald replaces Moe Girkins as Zondervan’s CEO
- Amazon eBookstore lists 945,000 Kindle generated eBooks
- Four authors have already sold over 1 million eBooks via Amazon
- USA book production figures rose 5% despite huge increase in eBook sales
- The end of an era; RIP STL Distribution – say hello to Trust Media Distribution
- Amazon predicted to sell $5.4bn Kindle generated eBooks in 2011
- Amazon is selling more eBooks than paperbacks; 105 on Kindle to every 100 in print
- HMV sells its Waterstones business to A&NN Capital Fund Management for £53m
Click here for an earlier digest of the first 8 weeks of this year.
It’s not only pubs that are going out of business in the UK – recent figures show that the quintessential English Public House is closing down at the rate of 30 per week (source: BBPA/MT). Retailing is now hard graft for many professions. Shopping habits are changing fast and there is much less time available for those trips to the High Street. When time is found, then competition for both time and money is increasingly fierce.
Christian bookshops are not immune – and many are having a difficult time. There have been some major shake-ups in the past couple of years, with a lot of shops going and, thankfully, a few coming. Accurate figures are hard to come by but there have been many closures in recent months. I doubt that there are more than 250 shops across the whole of the UK now capable of a viable future?
The IBS-STL debacle at the end of 2009 and the SPCK meltdown in 2008 badly destabilised Christian retail in this country. Any recovery – if it even proves possible – remains uncertain. There are shops that some would say deserve to go under (those that are poorly run, badly stocked and outdated) but there are many fine shops that would be a massive loss to their communities if they were to disappear. Good examples are GLO Motherwell; ‘Scotland’s Leading Independent Christian Resource Centre’ and Faith Mission Portadown, which jointly won the Industry award this year for ‘Large Christian Retailer 2010’.
This Christmas is the time, for those of us who care about the future, mission and ministry of Christian retailers, to ensure that we go out of our way to support these shops. The final quarter of the year is THE time when retailers look to achieve a financial surplus to help them make it through the following year.
It seems to me that we have a choice – to help keep these shops on the High Street or by our often passive inaction push more of them out of business year-by-year. For me it’s more than just a trade; it’s about maintaining a Christian presence on our High Streets. Time is running out – fewer and fewer specialist Christian shops remain as each year goes by.
Demographics also conspire against these specialist shops. Church attendance in the traditional denominations is largely declining and newer Churches with their younger audiences, such as Hillsong and 3C, tend to be pretty self-contained in terms of their resource requirements.
As I listen to people, I am increasingly of the opinion that many simply do not understand that if these shops go, then they will almost certainly not re-appear. The economics of Christian bookselling do not stack up without a high degree of subsidy or self-sacrifice. These shops are in danger of becoming a cultural and religious anachronism. Their future lies in the hands of us, the customer; but we are increasingly voting with our feet and our keyboards.
I fully recognise that not everyone has a Christian retailer close by. In these cases, the immediate temptation is to shop for Christian resources on Amazon, the all-conquering online retailer. I am uneasy with its growing power and supremacy in so many areas of retailing life. Personally, for Christian material, I would suggest using www.eden.co.uk/, the excellent Chester-based online specialist ‘etailer’ with its high standards of customer service and a wide ranging stock selection.
I contend that anyone interested in the survival of the Christian literature ministry should, this Christmas, and whenever possible, buy something at their local Christian bookshop. Where this proves impractical, then by all means use Eden, where some money from each order goes to support children in Malawi via the auspices of the Christian charity, World Vision.
Don’t know what to buy this Christmas? You could do worse than start with Operation World and give someone a really challenging and inspiring present. Read my review here.
One last thought. Maybe, during 2011, this trade should work together on a wide-ranging PR and marketing initiative; ‘Christian bookshops; use them, don’t not lose them’.
You can locate your local Christian retailer here.
Update; Friday 23rd July – Further facts emerged today concerning the sales performance of eBooks. The Bookseller.com reports that June saw further Kindle eBook sales growth with the ratio rising to 180 eBooks for every 100 Hardbacks sold in that month. Authoritative figures from the UK’s largest publishing house, Hachette UK, stated that ‘digital formats’ now represent 8% of their sales by volume – this is five times higher than in 2009. Clearly, the gap is closing fast.
Nielsen figures (for Jan to Mar 2010) show that hardbacks are just over 20% of the UK market (by volume).
The Bookseller.com goes on to say that the first mass market author to exceed 1 million eBook sales is James Patterson with 1.14m in total. Most publishers in the UK seem to be seeing fairly rapid growth in their eBook sales.
Nielsen also announced today that they would launch a UK eBook sales chart ‘within a matter of months’, another sure sign of a rapidly changing marketplace.
Perhaps the jury is still out but it would be a brave person who suggests that this is all going to die away and come to nothing. We shall see!
July 20th – according to a report on The Bookseller.com today (see http://www.thebookseller.com/news/123655-amazon-sells-more-kindle-books-than-hardback.html), Amazon are now selling more Kindle eBooks than physical Hardbacks. In the three month period – April to June 2010 – for every 100 hardbacks sold online, 143 Kindle eBooks were downloaded.
This was picked up in an excellent piece on BBC Radio 4 tonight and the question posed to a couple of guests, ‘Do these sales figures represent a tipping point and does this mean the demise of the case-bound book’?
There followed a mixed but measured response. Two points stood out in my mind; first, that the physical book really can be an ‘escape’ for people who spend all day, every day on a screen and therefore do not want to have to read on-screen in their leisure time. Secondly, earlier parallels were noted with radio v. television and cinema v. video. The newer technologies represented a threat to the old but in both these cases, radio and the cinema have survived and indeed are thriving.
However, the argument breaks down when you compare CD’s and downloadable music. In this case, online music is clearly winning against the physical CD. I buy much of my music online and just occasionally I will buy an actual CD. I enjoy reading the inside cover notes and admiring the photographs and the design but that still is not enough to prevent me from buying my music online.
I was lent this lovely casebound book at the weekend and I truly appreciate the physical ‘feel’ of a beautiful book. I’m just not sure, that at this stage, I’m quite ready to give up that pleasure to buy online and read on-screen. On the other hand, do I really want to ‘lug’ all 600 hardback pages onto a plane when it can reside so easily on an eReader?
So does this latest report from Amazon represent simple marketing hype or is this really the tipping point in the seemingly inexorable rise of the eBook?