The Bookseller.com

9th January 2009

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Christmas 2007: the early verdict

03.01.08 Graeme Neill

The book industry has reported a record-breaking Christmas despite fears that wider economic issues would affect consumer spending.

Book sales smashed all previous records to reach £280.2m in the four weeks to 29th December according to Nielsen BookScan's TCM, 5% up on the same period last year. Christmas Day falling on a Tuesday meant a three-day blitz of sales on the high street and in supermarkets as shoppers tracked down last-minute presents, with internet sales strong until 21st December, according to retailers.

Publishers were positive about high street performance, despite an only marginal increase in high street measure General Retail Market figures, with revenue up just 1.1% over the four weeks to £188.5m while volume fell 0.7% to 22.6 million. However, the average selling price in the GRM was up 1.8% in December to £8.35, after retailers nudged up book prices in the crucial final weeks of trading.

"Retailers did incredibly well amid difficult conditions," said Octopus group sales and marketing director Stephen Edney. "Smith's was very dynamic and has done very well. Amazon had a good Christmas and Waterstone's was consistent throughout. Borders was more aggressive than expected." Both Waterstone's and W H Smith are in pre-close trading periods and were unable to comment on how they fared over Christmas, although publishers pointed to stronger performances than last year.

At Tesco, category manager David Cooke said the supermarket had improved its market share over the period, identifying Christmas number one Russell Brand's My Booky Wook, Nigella Lawson and Richard Hammond as key performers. "Our shares on all key books look good, and we did very well with our boxed set offerings and Guinness World Records 2008," he said. "In weeks when the market has been flat, e.g. the week running up to Christmas, we were seeing good growth."

Bob Jackson, commercial director at Gardners, said online retailers had another sterling Christmas. "Once again, internet sales were very strong throughout December," he said. Jackson's comments were backed by figures from Amazon.co.uk, which said it had a record-breaking Christmas.

Retail Graeme Neill Christmas