The rate that eBooks are growing is absolutely phenomenal. Look at these two graphs below, courtesy of the International Digital Publishing Forum. The first details the US Trade Electronic Book Sales, which were $119.7 million in the 3rd quarter of 2010:
The rate of growth is obviously accelerating, and that growth becomes even more dramatic when you look at eBook sales on a yearly basis.
So, here's the real question, at least as far as I'm concerned: so what? Why is this so important?
There's many reasons, but here are two very specific ones:
- From a business perspective, in a changing world, innovation counts more than ever. Those who stick to outdated business models (see Borders & Blockbuster for an example) fail - those who adapt to changing technology see increases in sales. So, for your business, ask yourself: Am I doing everything I can to be on the cutting edge of emerging business trends and technology? If not - what can you do to fix this problem?
- More specifically: technology matters. An ad-ology survey in 2009 found that 46% of small businesses don't even have a website. This is horrendous. Between rising costs, a shaky economic recovery and enhanced competition, small businesses already face enough issues: not having a website can be a death sentence for any business.