The covid-19 lockdowns and restrictions have indeed brought about good things to people. Since pandemic-related lockdowns have been imposed in multiple parts of the world, many people have quested in making it a hobby to read many books at home. As such, bookshops have become in-demand, post-pandemic when such stores have reopened.
According to an article published on The Guardian earlier this January, there are currently 1,072 independent bookshops in the United Kingdom after the pandemic has spurred the book market to grow for the sixth consecutive year, as per reported by the Booksellers Association.
The regrowth of the market in the book industry has occurred after the 20-year economic low down the bookstore market went through. The economy of the said market dropped to the existence of the number of bookstores to 867 in 2016.
According to Meryl Halls, the Booksellers Association’s managing director, the re-thriving of the independent bookstore niche serves as a confirmation of the substantial role books play in the lives of many members of communities, and in many sectors of communities, in general.
Halls did point out, though, that despite the thriving economic outlook seen the book market faces, financial resources challenges are simultaneously integrated with such a growth. Due to the economic issues many sectors of society face, such as, recession, inflation, labor resources constraints, and expensive prices of items needed for basic survival, the economic stability of bookshops need support.
The UK government needs to provide support for the operation stability of and customer services that are associated with bookstores. Bookstores need this support system as small businesses in existence in the market. Having the sufficient economic support system, they need allows bookshop owners and operators to distribute equality in the facilitation of equal amounts in tax payments imposed. Examples of these taxes are business rates, to name a few.
Within 1995 and 2016, the number of independent bookstores in the Booksellers Association took a dip of decrease to 867 from 1894. This downturn of the situation comes as the book industry grapples with competition coming from Amazon and pressures spurred from pressures of increase in business rates.
Halls further shared that since the onset of the pandemic in the United Kingdom, the said market comprises of entities that were new entries to the market of book selling. These establishments, though, were just as exposed to the harsh reality of recession the United Kingdom faces.
Among the major selling authors last year were Richard Osman, with his book series called, “The Thursday Murder Club,” and the author that garnered the nickname,” Book Tok Queen,” Colleen Hoover. One of her famed books was called, “It Ends with Us.”
According to Halls, bookshops are keys to bringing in social and cultural investments in all towns, villages, suburbs, and city centers they’re part of in communities. Hence, bookshops yield their influences in local and national engagements, more so, in the city center parts of multiple communities.
According to a recent report that was filed by the UK’s Center for Retail Research, 2022 was a harsh hit on Britain’s retail industry. Many shops sadly stopped operations last year than at any point in time in the past five years that passed. Around 47 bookshops have stopped operations on average in an everyday basis, the previous year.
The same report has eventually discovered, that overall, 17145 bookshops located on high streets and multiple other locations had ceased their operations altogether at some point in time in 2022. According to the British Retail Consortium, 2022 was an extraordinarily challenging year for both buyers and sellers. As a result, such a situation led to dipped numbers in sales volume.
