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Verso Digital's 2009 Survey of Book-Buying Behaviors
 

Verso Digital's 2009 Survey of Book-Buying Behaviors

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Verso Digital's 2009 Survey of Book-Buying Behaviors Presentation ...

Verso Digital's 2009 Survey of Book-Buying Behaviors Presentation
January 26, 2010
http://digitalbookworld.com

Jack McKeown
@bookateur
http://versoadvertising.com/

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Verso Digital's 2009 Survey of Book-Buying Behaviors Verso Digital's 2009 Survey of Book-Buying Behaviors Presentation Transcript

  • 2009 Survey of Book-Buying Behavior
  • ―Nobody knows anything.‖ —William Goldman, Adventures in the Screen Trade
  • Survey Validation  Conducted in two waves, Nov. & Dec, 2009  Pool: 110 million internet users across 5,100 websites  5,640 respondents  Adults 18 years+  Statistically weighted to mirror 18+ U.S. population:  48.2% male (U.S. pop. = 48.4%)  51.8% female (U.S. pop. = 51.6%)  1.6 percentage-point margin of error  95% probability threshold
  • Part One: Avid Readers Who are they?
  • *av-id → having or showing a keen interest in or enthusiasm for something… New Oxford American Dictionary, Second Edition
  • Avid readers (5+ hours/week) are 28% of U.S. 18+ population Hours of Book Reading per Week Base: Total Survey Not sure Less than 1 hour 10.6% 19.6% 10 hours or more 12.9% 5-9 hours 1-2 hours 14.8% 21.3% 3-4 hours 20.8%
  • Avid readers skew older and… Percent Avid Book Readers by Age Group (>= 5 Hours per Week) Base: Total Survey 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 18-24 25-34 35-44 45-54 55-64 65+
  • …female! Pct of Avid Readers (> = 5 Hours per Week) by Gender 23,000,000 37% 39,000,000 63% Female Male Total estimated U. S. avid book readers = 62.4 million
  • Purchase behavior shows a similar pattern Percent Avid Bookbuyers by Age Group (>= 10 Books Purchased Last 12 Months) Base: Total Survey 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% 18-24 25-34 35-44 45-54 55-64 65+
  • Avid readers buy 10+ books per year No. of Books Purchased Last 12 Months Not Sure One - Two 15.1% 13.5% None Three - Four 11.7% 15.9% Five - Nine 10 or More 27.9% 15.8%
  • Implications  Older Americans (Boomers + Silents +Eisenhowers) represent 41 million or two-thirds of 62 million avid readers  Is this a generational or chronological phenomenon: will younger Americans read (and buy) more books as they age?  Despite the ambiguity, publishers can exploit the implied opportunities:  Convert younger audience to book buyers (incremental e- book sales & new formats)  Sell more books to aging market, especially Boomers
  • Part Two: Offline vs. Online Marketing What works?
  • Indies’ “mindshare” equal to chains and online! Base: All survey book-buyers Book-buyers Preferred Shopping Location: "Please rank your favorite places to shop for books…in order of preference." Chain Bookstore (e.g Not Sure, 15.9% B&N, Borders), 21.4% Book club and other, 10.7% Big-box Retailer (e.g. Local independent Wal Mart, Target), Bookstore, 21.5% 10.5% On-line Retailer (e.g Amazon), 20.0%
  • Brick & Mortar Marketing Awareness Factors: Pct Denoted "Very Important" Base: All Survey book buyers 59% 60.00% 50.00% 42% 40.00% 35% 33% 30.00% 20.00% 11% 7% 10.00% 0.00%
  • On-Line Marketing Awareness Factors: Pct Deemed "Very Useful" 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% Total Women Men Under 35
  • Primary Factors in Book-Purchase Decision: Pct. Deemed "Very Important" 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0%
  • Implications  Indies’ $ market share (10-12%) lower than their mind share (22%)  Traditional marketing tools (publicity, advertising, in-store promo) still most critical in bricks-and-mortar space  Search –engine marketing is most critical in online environment  Author sites/blogs, social networks and online ads moderately effective  Finalpurchase decision (offline and online) driven by author reputation , personal recommendations, and price
  • Implications (continued…)  Multiple factors impact title awareness and purchase decision  ―Symphonic‖ approach to book marketing is most effective  Validates publishers’ critical role in an evolving, hybrid market  Adds pressure to today’s marketing budgets as offline and online components must work in tandem
  • Part Three: E-Readers and E-Books What’s really happening?
  • E-reader Sales: Limiting Factors? Probability of E-Reader Purchase in 6-12 Months Base: Total Survey Already own one Very likely 2.9% 9.8% Not at all likely 49.0% Somewhat likely 15.2% Not sure 23.1%
  • Will avid e-book buyers buy fewer books than their p-book counterparts? Planned E-book Purchases Next 12 Months Base: e-Reader Owners One - Two Not Sure 25.4% 35.4% Three - Four 12.3% None Five - Nine Ten or more 8.3% 11.8% 6.8%
  • Primary Time for Using e-Reader Base: e-Reader Owners Reading at home for Other Not sure leisure 7% 13% 27% Studying or school reading 6% During breaks in the workday Reading in bed 9% 14% Traveling or commuting 24%
  • Does bundling pose a real opportunity for publishers? Bundling: "How likely are you to buy a 'deluxe' edition of a hardcover if it included a digital version for a modest surcharge?" Base: Survey Book Buyers Not at all likely 23.0% Not sure 35.1% Somewhat likely 23.0% Very likely 18.9%
  • Does bundling pose a real opportunity for publishers? Bundling: Males < 55 Years: "How likely are you to buy a 'deluxe' edition of a hardcover if it included a digital version for a modest surcharge?" Not at all likely, 19.9% Not sure, 33.7% Somewhat likely, 17.5% Very likely, 28.9%
  • E-book Pricing: A Developing Consensus? Maximum $ Willing to Pay for E-Books Base: E-Reader Owners $10.00 - $12.99 13.6% $13.00 - $14.99 Less than $10.00 8.1% 27.5% $15.00 - $19.99 6.2% $20.00 - $24.99 3.7% $25.00 or more 3.8% Not sure 37.1%
  • Over 28% of e-reader owners use un-regulated Torrent services E-book Piracy?: "How many times in the last twelve months have you downloaded an e-book from an online file storage service such as RapidShare, Megaupload, Hotfile, etc.?" Base: E-Reader Owners Non e (63 %) One - two (13% ) Thre Not Te n Fiv e e- fo Sure or m - n ine ur (7 (8%) o (3 %) %) re (6 % )
  • Over 45% of younger male e-reader owners use un-regulated Torrent services! E-book Piracy?: Males 18-34 years "How many times in the last twelve months have you downloaded an e-book from an online file storage service such as RapidShare, Megaupload, Hotfile, etc.?" Base: E-Reader Owners Not Sure Ten or more 10.8% 12.9% Five - nine None 6.7% 43.2% Three- four 9.6% One - two 16.7%
  • Implications  No near-term tipping point for e-reader adoption  E-reader penetration could reach 12-15% over two years  Undecided are swing factor at 38%  Significant resistance to e-books among remaining age/gender brackets  Resistance among 45+ consumers ranges 56-60+%
  • Implications (continued…)  Avide-book readers plan proportionately fewer purchases than p- book counterparts  Signof developing hybrid market: i.e. Are avid readers disposed to purchase both e-books and p-books going forward?  Atleast 42% of book buyers are at least ―somewhat likely‖ to consider bundled e-books
  • Implications (continued…)  Split on pricing among e-reader owners  28% favor Amazon pricing at < $10.00; 28% accept prices $10.00 - $20.00; 37% undecided  Minority 7.5% willing to pay hardcover prices >= $20.00  28% of e-reader owners use un-regulated file-sharing services  Piracy is across-the-board, but 45% among males <= 35 years  Understatus quo conditions, e-book piracy will intensify with growing e-reader adoption
  • Slide presentation available @: •versoadvertising.com
  • Solutions for the digital age.