Kindle e-books outsell paperbacks
When the Kindle first came out on November 19th 2007, it retailed for $399 and sold out in a mere five and a half hours
When the Kindle first came out on November 19th 2007, it retailed for $399 and sold out in a mere five and a half hours. Stock didn't return till April 2008. As time passed we saw the Kindle evolve into the Kindle 2, Kindle DX, and Kindle 3 with WiFi and 3G.
The success of digital reading is undeniable, and all of a sudden avid readers now had a new tool that could store as many books as they wanted without having to lug around a mini-paperback library. Hence, it does not come as much of a surprise how a company that only sold paper backs in 1995 is outselling e-books today at a rate of 105 Kindle books to 100 print books. Amazon also says that they have experienced the highest year-on-year growth rate for its books business due to heightened Kindle book sales and its firm print sales.
Besides paperbacks, the UK Kindle store has seen higher Kindle book sales against Hardcover sales too. Figures indicate that since April 1st, customers have been buying Kindle books over hardcover at a ratio of 2:1.
"Customers are now choosing Kindle books more often than print books," said Jeff Bezos, Amazon CEO. "We had high hopes that this would happen eventually, but we never imagined it would happen this quickly - we've been selling print books for 15 years and Kindle books for less than four years.
"In addition, we're excited by the response to ‘Kindle with Special Offers' for only $114, which has quickly become the bestselling member of the Kindle family. We continue to receive positive comments from customers on the low $114 price and the money-saving special offers. We're grateful to our customers for continuing to make Kindle the bestselling e-reader in the world and the Kindle Store the most popular e-bookstore in the world."
The U.S. Kindle store boasts close to 950,000 books with nearly 175,000 added since January 2011. Close to over 790,000 books at the U.S. store sell for $9.99 and below.