Industry's Most Comprehensive Report calls 2010 a 'Perfect Storm' of Challenges to U.S. Book Market

The 2010-11 Annual Review identifies how the economy and shifting industry dynamics combined to significantly alter the way consumers bought books in 2010. Among the most profound impacts: For the first time ever, online retailers accounted for more units purchased and spending on books than the national bookstore chains, making e-commerce the single largest book-buying channel.
"When all bookstores are combined, bookstores still comprised the largest source of book purchases, but that is sure to change in 2011 as the number of bricks-and-mortar stores declines and spending through such outlets as Amazon and BN.com increases," said Jim Milliot, Publishers Weekly editor and contributor to the Annual Review. "It is quite possible that we'll see a decline in the number of large bookselling enterprises by the end of 2011, a development that will hasten the shift to more online book buying."