New Research Reveals Unexpected Positive Outlook for the Printed Book, Due to Love of the Medium
MALVERN, PA--(Marketwired - Dec 9, 2013) - Ricoh Americas Corporation (Ricoh) today announced the findings of its commissioned IT Strategies books study, performed in conjunction with the University of Colorado. Among the key findings of the study: that eBooks' mindshare is overshadowed by popular press headlines rather than factual data, and that most consumers do not see themselves giving up printed books, due to the benefits the physical form offers.
The most surprising results of the study entitled "The Evolution of the Book Industry: Implications for U.S. Book Manufacturers and Printers" include:
Nearly 70 percent of consumers feel it is unlikely that they will give up on printed books by 2016. Consumers have an emotional and visceral/sensory attachment to printed books, potentially elevating them to a luxury item.
Despite their perceived popularity, 60% of eBooks downloaded are never read in the US. Since 2012, the growth of eBooks has slowed significantly as dedicated eReader sales are declining, and tablet PC devices are increasingly becoming utilized for other forms of entertainment.
College students prefer printed textbooks to eBooks as they help students to concentrate on the subject matter at hand; electronic display devices such as tablet PCs tempt students to distraction.
Current trends reveal that while fewer copies of books are being sold, more titles are being published.
Digital printing of "ultra short runs" has empowered book printers to supply books more tightly tied to actual demand.
The top three reasons consumers choose a printed book are: Lack of eye strain when reading from paper copy vs. an eBook; the look and feel of paper, and the ability to add it to a library or bookshelf.
"More than 500 years after the invention of the printing press, book manufacturers and publishers are playing a pivotal role in the next renaissance in books that is happening now," said George Promis, vice president of continuous forms production solutions & technology alliances, Ricoh. "To borrow a phrase from Mark Twain, reports of the printed book's death are greatly exaggerated. Print is alive, well and sought after in today's book market. At Ricoh, we're focused on ensuring this stays true for years to come."
Other findings from the study specifically relevant to publishers and book manufacturers include:
Publishers are using digital printing in two ways:
As a test with 1 to 2 books placed per retailer, circumventing cumbersome distributor guidelines and storage fees before ordering larger offset or digitally printed quantities
For predicted strong titles, digitally printed books are used for reorders as needed to supplement first-run offset printed books
Digital production inkjet printers have opened the door to a business model shift. Combined, the study estimates that just 50 production inkjet systems owned by 25 book manufacturers produced more than ten percent of all printed book pages in the U.S. in 2012.
Offering titles electronically does not correspond to revenue generation or cost savings -- even the largest publishers derive revenues of no more than 20-30 percent from eBook sales
The study surveyed more than 800 respondents, with the following demographic profile:
Gender: 55% female, 45% male
Average age: 39 years old
0.2% have not completed high school (1 respondent)
36% have a high school degree
49% have an undergraduate degree
15% have a graduate or higher degree
"Despite the perceived growth of eBooks, our research shows that there is a silver lining for the printed books and the digital production print industries," said Marco Boer, Consulting Partner, IT Strategies. "As book orders become smaller in quantity and more frequent, and as an unprecedented number of titles are introduced each year, digital print is helping book manufacturers tackle potential challenges head on through automation and more intelligent printing."
Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services. Headquartered in Tokyo, Ricoh Group operates in about 200 countries and regions. In the financial year ending March 2013, Ricoh Group had worldwide sales of 1,924 billion yen (approx. 20 billion USD).
The majority of the company's revenue comes from products, solutions and services that improve the interaction between people and information. Ricoh also produces award-winning digital cameras and specialized industrial products. It is known for the quality of its technology, the exceptional standard of its customer service and sustainability initiatives.
Under its corporate tagline, imagine. change. Ricoh helps companies transform the way they work and harness the collective imagination of their employees.