The book market and bookstores - Italy

A bookstore is defined as any business whose main activity is the sale of books. This activity is identified with ATECO code 47.61, which includes "retail trade in books in specialized establishments." In this definition we can also include the trade and sale of cultural products in large-scale distribution (supermarkets, hypermarkets etc.). We can distinguish the book market into two macro-categories : - Paper books, including atlases, dictionaries, encyclopedias, textbooks, guidebooks, sheet music, maps, fiction and non-fiction; - E-Books, including all electronic books that can be read on computers, tablets, e-readers or other electronic devices. The value of the global book market have been estimated at 138.35 billion euros in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 1.9 percent from 2022 to 2030. Key factors stimulating the market include increased spending on books supported by rising incomes and interest, as well as continued innovations in format that have improved the overall reading experience. The market has been dominated by academic publishers, with non-academic publishing or trade publishing accounting for a rather minuscule share in comparison. Academic publishers have a symbiotic relationship with the educational system. Most of these publishing houses cater directly to schools, colleges, universities and research institutes covering technical, medical and vocational education. With the introduction of e-books with the advent of digital media and new technologies, the market has adapted in various forms such as e-books and audiobooks. Thus, since reading has moved to screens, it has expanded the scope of opportunities for publishers and readers in the market. In Italy, the value of the book market is 3.429 billion euros (up 10.7 percent from 2020). Publishing is the first cultural industry in Italy and the fourth in Europe. More than 85 thousand new books published per year with a growth of 15.6% over 2020, a growing catalog of available titles, now at 1.3 million.(Italian Publishers Association)