Sunday, January 07, 2018

America's 24 fastest-dying industries

America's 24 fastest-dying industries

There is one real anomaly in here. Book unit sales are going up, even in the print category, and there are more authors than ever, but the number of book stores is falling rapidly.

Amazon is the reason for both. By making it easier to buy books, and by moving the market in the direction of less expensive digital books, they have stimulated market growth. But because they have grown immense with that particular business model (they now account for 41% of the nation's book sales), they have killed the competition.

* Borders is already dead.

* Barnes and Noble is on life support, having experienced a massive stock drop after announcing their weak holiday period. (Christmas never came.) Shares fell more than 14 percent on Friday alone, reaching the lowest point since 1994. "B&N, once the behemoth that bestrode the U.S. books market, has been pummeled by upstart Amazon. If you had invested $100 in Amazon stock twenty years ago you’d have $25,600 today. If you’d put that money in Barnes & Noble, you’d have $50."

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