Overall 2020 Downturn in China: 5.08 Percent

From Publishing Perspectives:

The annual conference produced by Beijing OpenBook—familiar to our readers for its research in our China bestsellers series—this year has reflected, predictably, on the instability of a unique year.
Titled “Crisis and Changes,” the 2020 report on China’s book market was released in a lengthy broadcast with more than 19,000 viewers at the time and at least 25,000 more following its original airing.

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(F)or the first time since OpenBook began its tracking in 2001, it saw China’s huge book market take a step back. Growth charts showed a -5.08-percent downturn in 2020, especially striking by comparison to 2019’s rise of 14.4 percent.

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Our colleague Rainy Liu at OpenBook points out that between 2015 and 2019, the Chinese retail market had been growing at more than 10 percent annually, making the 2020 retreat felt especially sharp.

Echoing what we hear from many of the world markets we cover, online retail channels saw a jump of 7.27 percent in book sales, amounting to 76.7 billion yuan RMB (US$11.8 billion), while physical bookstores experienced a plunge of -33.8 percent.

Indeed, the Chinese digital retail channels, while landing in positive rather than negative territory, did see their growth rate struggle, which in fact does not follow the pattern seen in some world markets in which digital retail surged under lockdown pressures on print.

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One early observation during 2020 from OpenBook was that the “super-size” bookstores in the sprawling Tier 1 and Tier 2 cities of China were experiencing the most daunting downturns in business under pandemic pressure.

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And in terms of what was being read, the normally robust self-help nonfiction category was seen to suffer most heavily, with a 33.2-percent dive in sales, year-over-year.

While children’s books and school study books saw positive growth, engineering and technology, computer science, medical, economics and management, education, agriculture, and natural sciences went into negative territory in 2020.

Link to the rest at Publishing Perspectives