Are Physical Bookstores a Thing of the Past?

According to industry reports from IBISWorld, there are roughly 43,000 bookstores across the United States today. This number is actually up about 0.5% since 2023. This pattern matches statistical data in other countries across the world. Book sales are booming and it seems we have more readers than ever before.

Bookstores should be thriving, right? Yet, like with most other brick-and-mortar businesses, it seems that physical bookshops are struggling to keep their doors open and customers interested. It lends the question – are bookstores a thing of the past? We see resilience and creativity from these small business owners.

A Resurgence of Readers

While many of us bibliophiles have remained steadfast in our lifelong love of reading, the rest of the world is jumping on the book train, too.

During the global pandemic, book buying and reading saw a large uptick. The US Bureau of Labor Statistics found that consumer spending on reading rose 22.9% in 2020.

It remained high in 2021, rising, roughly, another 2%. Since then, reading has seen a slight drop off, but remains higher than that of pre-pandemic behavior. It’s important to note, these statistics don’t differentiate between ways of purchasing books, but do paint a clear picture – the world is reading more.

Indie vs. Big Box

For a quick contextual history, the rise of the “big box” bookstore took place in the 1980s and 1990s. Stores like Walden and Barnes & Noble were building more locations than ever.

As with every big box store, there are small businesses fighting to keep up. Larger chains were undercutting prices and producing amazing deals. Think Meg Ryan’s Shop Around the Corner vs. Tom Hanks’ Fox Books in the popular 1998 rom-com, You’ve Got Mail. The rise of the independent bookstore was a movement born out of frustration from small shop owners who were losing business left and right.

Eventually, with the downturn of readership over all, many big box stores eventually closed. Today, Barnes & Noble remains as the sole big box bookstore in business and independent bookstores have seemingly weathered the storm.

More Than Just Books

Physical bookshops continue to search for new ways to draw readers in. Many are incorporating other items to sell in their stores alongside their primary inventory of books. Stationary, CDs, records and office supplies fill separate sections of the physical stores. These extra items often help bolster sales and make ends meet where books may not.

Many shops also have cafes and host community events like talent nights and open mic nights to get more visitors into their stores.

At these events, you can hear from local writers or perform your own art while the owners hope that you also shop around their store for a bit while you’re there.

Niching Down

Bookstores carrying “a little bit of everything” aren’t as appealing as they once were. Shoppers are short on time and patience. Many bookstores are opting to keep niche genres and specific stock. The romance genre saw a huge boost in readership during COVID and has remained steady, in part due to the rise of BookTok (the bookish side of TikTok).

Bookstores who have leaned into the popularity of this genre and appeal to serving its readers have found success, selling only books that fall into the romance category and theming their stores around it.

Convenience Over Community

The biggest challenge physical bookstores are facing is the growing number of ways for readers to get their hands (or eyes) on books.

In findings published by the Pew Research Center in 2022, three in every ten Americans are reading e-books, a five percent bump since 2019. Meanwhile, print book readers remained roughly the same. It’s important to note that print books are still the most popular medium for reading, but with e-reading on the rise, how can bookstores keep up? 

It’s hard to deny the convenience of downloading e-books. When you’re in search of your next best-selling read and you want it quickly, a quick search on e-reading databases like Kindle can come in handy for instant download. Even just placing a shopping order online will save you from having to head into a bookshop to browse.

Physical bookstores are competing will millions of online sellers and creating a larger online presence to keep up.

The Beauty of Bookstores

While data suggests that keeping physical bookstores alive and running is more difficult these days, there’s no denying the nostalgia and enjoyment many readers feel when they step into their favorite shop. Shopping small and getting out of your home to browse for your next read is a great way to support your local economy and make a fun day out of book shopping.

The bottom line? Book sales remain strong across the board and we believe that there will always be room for in-person shopping in the world of books.