As the economy has taken a downward spiral, what impact has it had on book sales? The economy, as we all know, as bad. Many experts say that it will get worse before it gets better and many agree that it will be a while before change for the better occurs. Since the decline of the economy, prices have dropped, gas has gone down, and everyone is wondering what will happen next. When “Black Friday” came around, consumer found deals that made their eyes pop out.  Despite the downfall of the economy, people are still shopping.

Net sales of books in April fell 3.5 percent to $472.7 million, based on data from 79 publishers as reported to the Association of American Publishers.

We probably should have expected this as many other products have been on the decline since the economic crisis. surprising though is that digital-based copies of books have not declined. sales in April rose almost 20%. This may be due to the fact that Kindle has increased in popularity. It may also be due to the fact that people are looking to spend their money in the best way possible- treading away from traditional media and venturing into the digital realm. Maybe there is some sense in buying the digital copy of Sonia Rivera-Valdès’ Stories of Little Women and Grown-Up Girls

Due to the decrease in book sales, many bookstores may start to sell books at lower prices to try and attract customers. Since the stores and retailers usually buy books at a fraction of the price for what they sell them, it may be in their best interest to slash prices if they are to stay in business, especially if the economy continues its trend.

“Most bookstores buy stock for 20 to 40 percent off suggested retail,” May said. “But they can buy remainders and other bargain books for as much as 90 percent off retail price. That means they can sell the books for less in a time when consumers are spending fewer dollars on books, and still make a higher profit margin.

As we get closer and closer to the end of 2008 and move into 2009, we can only hope that book sales will increase. Even if digital book sales continue to increase, traditional books also need to make a comeback. Hopefully, by slashing prices books will become more and more attractive, even in this digitally run world.

Read the full article quoted: Book sales in decline as U.S. economy contracts

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