With a five-fold annual growth rate and revenue of $60 million, Bookshop.org is catching up with Amazon

According to foreign media reports, the online bookstore Bookshop.org has grown very strongly since its launch, catching up with Amazon step by step. Since entering the UK market in November last year, it has created a profit of 1 million pounds for independent bookstores in the UK in just four months.

Bookshop.org's annual revenue reaches $60 million , with an annual growth rate of more than 5 times

Bookshop.org's founders predict that the platform will generate $60 million in annual revenue in its first year, and that it could grow at least five times that rate, thanks to a reading boom brought on by the pandemic as people binged books at home.

According to Nielsen data, Bookshop.org saw an 8% increase in value last week compared to the same period in 2020, meaning that more books were sold in the week when high street bookshops were closed than in the past week , with retailers gradually turning to online platforms.

Bookshop.org has been challenging Amazon and expanding its business scope and market. Currently, the platform has been launched in the United States and the United Kingdom , and will be launched in Spain next.

British retailers say Bookshop.org is a great site that sells Londoners' books while also supporting businesses struggling due to the pandemic.

Currently, all 410 bookstores on the Bookshop.org platform have achieved revenue growth, avoiding business bankruptcies and layoffs during the pandemic .

Bookshop.org wants to be an Amazon alternative

Bookshop.org was founded in the United States last year to support local book suppliers and provide an alternative to Amazon, which is trying to eat up all of its market share in the book sector.

Bookshop.org is tailor-made for the "buy local" mindset . The site combines the resources of independent bookstores across the country, each with its own virtual storefront, and together they offer customers great selection , prices , convenience, and a delivery system that competes with Amazon.

When a customer buys from Bookshop.org , they can designate which participating bookstore will receive all of the profits from that order. Bookshop.org 's revenue pool is split evenly among all participants, so the more revenue the site earns, the higher the profits for all independent retailers .

This model was welcomed by some independent retailers during the pandemic, and a large number of book retailers joined the platform and changed their business methods.

Pandemic-induced reading surge may not last as lockdown eases

With the lifting of the blockade, the reading craze may no longer continue. At present, the blockade measures in the UK and other places are gradually being relaxed, and entertainment venues and retail stores in various places are gradually reopening. This is a boom in the recovery of business for the retail industry, but it is undoubtedly a blow to online books.

Some avid readers will be reminded of the joy of reading and will continue to read after the lockdown is lifted , but some people may return to restaurants , bars and cafes after the lockdown is lifted.

Bloomsbury Publishing, a bookmaker , said sales in February were very good but " exceptional " as it warned that a surge in reading sparked by the pandemic might not last as restrictions are eased.

In response, Andy Hunter, CEO of Bookshop.org , said that Bookshop.org plans to slow down this year and improve platform services, and then turn to other markets including Germany and Italy as soon as possible next year.

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Bookshop.org

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