The Booksellers Association of the U.K. & Ireland released the results of its annual Christmas Trading Survey, with respondents continuing to report strong sales overall and a notable improvement in supply chains, but a decline in high street foot traffic.
Among the key findings of the BA's survey:
- 50% of respondents reported an increase in sales compared with Christmas 2022, but 30% experienced a decrease in sales
- Equal numbers of respondents--35%--noted that footfall had risen and declined in their bookshop during the Christmas period
- 44% reported that overall foot traffic on the high street was down in 2023, with only 18% observing an increase
- 49% of bookshops said individual transaction values increased, but 22% also reported a decrease in transaction values
- Around 60% of respondents reported an increase in turnover for the whole year 2023 vs 2022
Asked what their biggest concerns were in 2024, the most common responses from indie bookshops were:
- Cost of living and consumer confidence
- The U.K. economy
- Increasing recommended retail prices and wholesale prices
- Energy/utility bills
- Staff costs
"As we continue to recover from the pandemic and navigate the cost-of-living crisis, we are pleased to see that there continues to be an upwards trend for Christmas book trading, and that supply chains have greatly improved since 2022," said BA managing director Meryl Halls. "However, while bookshops are generally performing better in comparison to other high street retailers, the current environment of high business costs, the increased cost of living and the precarious state of the U.K. economy, bookshops still face significant challenges... the BA will continue to provide support and advice to navigate the increasingly complex high street landscape."
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Indigo Books & Music has laid off an unspecified number of staff as part of the retailer's ongoing efforts to streamline its operations, the Canadian Press reported, noting that company spokeswoman Melissa Perri said the cuts stem from the Indigo's strategic plan meant to return the business to profitability.
Indigo has had several quarters of losses, including C$22.4 million (about US$16.6 million) in the second quarter, ended September 30. In addition, founder and CEO Heather Reisman returned from retirement after the abrupt resignation in September of her successor as CEO, Peter Ruis.
Perri added: "While it is a difficult decision to part ways with valued and talented employees, it is the right decision for our company and all those we serve."
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Booksellers Aotearoa NZ's first featured member of 2024 was Ry, manager of Reverie Booksellers in Ōtautahi (Christchurch), who said, in part: "Our little shop was established in 1977 by my grandfather Thady. The shop was nestled in between an old cinema and post office on Edgeware Road, before moving across the street in the late 1980s to what was the St. Alban's Medical Centre. My mother Debs took over from Thady for the following 35 years, and in that time the shop was known as Edgeware Paperback Centre.
"Two and a half years ago (in the middle of lockdowns), my partner Angela and I took over from Debs who retired, the family business is now in its third generation. Ang is a 'booklover' and an avid reader.... We gave the shop a new name, as well as a full renovation as the shelving was all the original from 1980s when trade paperbacks weren't common. We then went online with a dedicated website and online shop. We are happy to be able to assist customers from all over the country." --Robert Gray