January 2023 sales data from the Association of American Publishers shows a slight sales increase, with gains in the adult market and declines in the children’s/YA market. Both ebook and digital audiobook sales are up.
While the January report shows a low returns rate (about 15 percent compared with 25 percent prior to the pandemic), a recent industry panel moderated by Jim Milliot at Publishers Weekly discussed that book returns may spike in the months ahead, adding to excess inventory publishers now carry. (Many publishers feared running out of stock last year as printers and paper were in short supply and thus invested in bigger offset print runs.) Ingram executive Kelly Gallagher revealed that, when assessing the inventory of one of the big US publishers, 85 percent of their catalog was selling less than 500 units annually, with years of inventory on hand for many titles. Another interesting stat shared: Less than 5 percent of book returns are recirculated back into sale.
As of March 18, Circana BookScan reports that print book sales are down by less than 1 percent versus 2022. Keeping the market steady: adult fiction, including contemporary women’s fiction, manga, and romance. Currently at the top of BookScan’s bestseller list: Saved by Benjamin Hall, a Ukraine war title by a veteran reporter, published by HarperCollins. Also on the top 10 bestsellers list: I Will Find You, the latest thriller by Harlan Coben (Hachette) and Hello Beautiful, a novel by Ann Napolitano (PRH).
Jane Friedman has spent her entire career working in the publishing industry, with a focus on business reporting and author education. Established in 2015, her newsletter The Bottom Line provides nuanced market intelligence to thousands of authors and industry professionals; in 2023, she was named Publishing Commentator of the Year by Digital Book World.
Jane’s expertise regularly features in major media outlets such as The New York Times, The Atlantic, NPR, The Today Show, Wired, The Guardian, Fox News, and BBC. Her book, The Business of Being a Writer, Second Edition (The University of Chicago Press), is used as a classroom text by many writing and publishing degree programs. She reaches thousands through speaking engagements and workshops at diverse venues worldwide, including NYU’s Advanced Publishing Institute, Frankfurt Book Fair, and numerous MFA programs.
