The price of books rose by 12.8 per cent in the three months to the end of September and an average of 7.4 per cent over the whole of 2014, as tracked by the Office for National Statistics. That is the highest rise since ONS records began in 1997.
The figures, which include hardbacks, paperbacks and ebooks across a range of outlets online and on the high street, reflect a new attitude among some book buyers, believes James Daunt, managing director at 276-store chain Waterstones.
‘The ebooks market was embraced very strongly at first, but it now looks like most ebook buyers are also buying physical books,’ he said.
‘The value of having a book sat on your desk, that you can pick up or lend to someone, has come back. It would be nice to say it was about consumers supporting local bookshops, but I’m not sure that is the case.
‘But as a company – and we are a large part of the high street market now – we are getting much better at selling hardbacks and we’re selling more, which hasn’t been the case for a long time.
‘We’re also seeing strong growth in children’s book sales. There was an expectation that children from the ages of nine to 12 would increasingly want to read on digital readers, but that doesn’t seem to have happened,’ said Daunt.