Companies in this industry sell books from physical retail locations; they may also sell via websites. Major companies include Barnes & Noble, Books-A-Million, and Follett (all based in the US), as well as Fnac Darty (France), Indigo Books & Music (Canada), Kinokuniya (Japan), Thalia (Germany), and Waterstones and WHSmith (both based in the UK).
The global book market is valued at $107.1 billion in 2021 and is expected to reach about $112.1 billion by 2023, according to Statista. The US, China, Germany, and the UK are some of the top countries in terms of book sales.
It brings a golden opportunity to the online retailers in this industry to maximize their sales and gain profits by monitoring the competition and focusing on dynamic prices. But for this purpose, you need a smart solution that helps you with understanding competitive pricing strategies, and that's what PriceManager is for.
The potential long-term effects to bookstores as a result of the coronavirus outbreak may be severe. Store closures and social distancing by consumers will drive sales to online booksellers, notably Amazon, which the industry has been battling for decades. Already suffering year-over-year declines in sales, COVID-19 is likely to accelerate sales declines at bookstores. However, the global book market is expected to recover after a decrease in sales from 2019 to 2020. The market is expected to reach about $112.1 billion in 2023, according to Statista.
As most retail booksellers now have a major ecommerce presence it is vital that they are aware of the price points of the competition. If they price wrong, sales will dramatically fall. Knowledge of a competitors prices, stock availability, promotions and assortment range are vital if they are going to be a success. This is exactly the level of competitive intelligence PriceManager is providing to major players in the Books industry
Where the gaming industry is concerned Companies in this industry create video games and other entertainment software. Major companies include Activision Blizzard, Electronic Arts, and Microsoft (all based in the US); Bandai Namco, Konami, Nintendo, and SEGA (all based in Japan); Tencent (China); and Ubisoft (France).
Global video game revenue from all channels, including mobile, PC, and console, grew to nearly $140 billion in 2020 amid the pandemic, according to SuperData Research. Key growth drivers include games for mobile devices, virtual reality, and esports (multiplayer competitive video games). Top video game markets include China, the US, and Japan.
Demand is driven primarily by personal income and gamer demographics. The profitability of individual companies depends on an understanding of consumer needs, timely product development, and effective marketing. Large companies have economies of scale in manufacturing, marketing, distribution, and selling. Small companies can compete successfully by developing creative products.
The advantage of monitoring these industries is the global usage of ISBN and EISBN codes.
However to do this effectively product counts will be large and in gaming, prices will move frequently.
Retailers in this space will need a solution that is scalable and offers tools to segment the data into manageable loads. Anything delivered as a flat file or data dump will be almost impossible to work with.
PriceManager is working currently with the largest players in the gaming market, we operate at scale and deliver timely results with analytical reports.
Our dynamic repricing capability will take the competitive landscape into account along with your internal pricing rules. It can be set to automatically change the prices on your website meaning you will always have the most up to date pricing. Whether your strategy is volume sales or maximize margin you will be proactive in achieving those goals.