Kyobo Bookstore’s Book Sales Decline Amid Changing Reading Trends Post-COVID

Kyobo Bookstore Reports Decrease in Book Sales Due to Changing Reading Trends Post-COVID

Kyobo Bookstore, a popular bookstore in South Korea, has released a report on the annual trends and bestsellers in book sales for 2023. According to the report, Kyobo Bookstore’s book sales have decreased by 4.5% compared to the previous year, despite the recovery from the COVID-19 pandemic.

Genre-specific Sales Decline:

The report reveals significant declines in various genres. The economics-business and children’s book categories, which had shown substantial growth over the past three years, have experienced a decline of approximately 9%. The political-social category has recorded the largest decline, with a decrease of 28% in sales. The literature and essay category also continues to decline, with a decrease of 12.2% this year. Additionally, the parenting and child education category has seen a decrease of 19.5%.

Growth in Specific Categories:

Despite the overall decline, certain genres have shown growth. The travel category, which had been heavily impacted in the past three years, has experienced the highest growth rate of 40% this year. The comic book category has also contributed to the increase in sales, with popular works such as “Slam Dunk,” “Favorite Child,” and “One Piece” driving a growth rate of 9.7%. Kyobo Bookstore attributes this growth to the popularity of works like “Slam Dunk” and considers it a transition from a niche to a mainstream category.

Self-help Books Take the Spotlight:

The most prominent category this year is self-help books. “Seino’s Teachings” has claimed the top spot as the bestselling book at Kyobo Bookstore, followed by “One Thing” and “Reverse Thinking” in the second and third positions, respectively. Self-help books have shown a growth rate of 20.8%, ranking second after travel books.

Adapting to Changing Trends:

Despite the overall decrease in sales, Kyobo Bookstore’s analysis indicates that reading habits have been sustained over the past three years. The bookstore’s book sales have increased by 12.3% compared to 2019, indicating a recovery from the impact of COVID-19. The analysis also highlights the importance of adapting to changing trends and meeting readers’ diverse interests.

Implications of the Sales Environment:

The decline in sales within the political-social category suggests a shift in readers’ interests. The decrease in the literature-essay category indicates a change in reading habits. The decline in the parenting and household-related category reflects a decrease in interest in topics related to parenting and home management. On the other hand, the increase in travel book sales signifies a renewed interest in travel-related content, while the growth in self-help book sales reflects a desire for personal development and growth.

Conclusion:

Despite the challenges faced by the bookstore industry, the consistent reading experience over the past three years indicates a steady demand for books. Kyobo Bookstore’s analysis emphasizes the industry’s resilience and ability to adapt to changing trends, ensuring that readers can continue to enjoy the pleasure of reading and meet their evolving interests.