The purchase of media is becoming increasingly digital. It started with the development of MP3 files, went on to films, games and books. For a while, it looked as if the eBooks would replace the printed books. But this trend was suddenly stopped—those who like to read place more value on the feel of a real book. But the last few months have fueled the movement towards the e-book again. A recent study shows that eBooks and audiobooks are becoming more popular also. At the same time, consumers are willing to spend more on digital media than on printed media. The purchase is again shifting to the digital world. That is also an opportunity for eCommerce.
According to the latest study, only a third of consumers read only printed media. Forty per cent consume print media as well as eBooks and audiobooks. Five per cent of buyers trust eBooks exclusively, and eleven per cent rely on printed media in combination with eBooks or audiobooks. The study Digital Reading on the Advance of a global strategy consultancy provides these figures now. Unsurprisingly, it turned out that younger readers, in particular, rely on digital content. The authors argue that although eBooks and audiobooks are widespread, young readers prefer them mainly. The reason is that younger people are used to it. The easier the technology is to use, the faster it will penetrate all other age groups. That has also been observed on Netflix in recent years, for example. Young people first discovered streaming and then infiltrated all age groups.
Choice, Convenience And Availability
The criteria for the popularity of eBooks and audiobooks are apparent. It is a wide choice, the convenience of buying and using. The more the readers are improved, the more use they are made. Above all, the additional features make the devices so popular. These bring real added value for customers. That is also noticeable in the willingness to pay. If customers spend just ten euros on a printed paperback, it is between thirteen and nineteen euros for eBooks and audiobooks. The study also showed that customers don’t want to focus on just one medium. Combined offers with a corresponding discount are incredibly popular. These bundles should contain printed books in combination with audiobooks or eBooks and audiobooks. After all, audiobooks enable in-depth content to be consumed and that apart from traditional media.
The last few months and their limitations have brought the digital formats back on track. While the use of printed books decreased, the use of audiobooks increased by four per cent. The purchase is shifting more and more to the internet. The website called Webshops sell eighty per cent of e-books online, whereas printed books are only forty per cent. However, shopping behavior has changed significantly recently. Now people also purchase printed books increasingly online. Therefore, eCommerce is also becoming more and more critical for stationary retail. The study was carried out in September 2020 by Simon-Kucher & Partners, Strategy & Marketing Consultants, together with Dynata, among more than 6,000 consumers in the USA and Europe.