Digital media continues to put a strain on book sales in the U.S. A report from Statista found that book sales are slowing as more Americans turn to e-readers and the web for their written information. Unit sales have reached 700 million per year according to the latest figures. Americans still prefer print books over electronics by a rate of 65 percent. 

Book sales reached $8.4 billion in the 2020, however, this is a significant change from the early 1990s. Experts believe this is due in part to the coronavirus, which prevented shoppers from making in person book purchases, along with the growing rate of people shopping online. 

Audiobook sales are also on the rise, with an estimated $1.5 billion spent on audio downloads. 

The definition of bookstores is also changing, with many now offering a wider range of products. Companies like Amazon are putting the pressure on as consumers find alternative and cheaper methods of buying their favorite author. Many book giants like Barnes and Noble had to close stores during the pandemic, pushing consumers to other online book retailers to find titles. 

It’s believed that the book market will continue to grow into the next decade. More than $3.5 billion was spent on hard back, paperback and mass market books in 2021. Experts believe that print will continue to prosper, however, it will be at a slower pace than in previous years.