About this reportAbout the market… This report is essentially three reports in one as it covers three distinct markets, namely, book, music and video retailing.
The three product categories are often grouped together under the heading of “cultural goods” and while the three sectors have enjoyed varying degrees of success over the last five years, the products share certain similarities that justify our decision to include them in one report title.
The UK book, music and video market grew by almost 45% between 1999 and 2003.
This remarkable increase was driven by strong growth in the video sub-sector, which was fuelled by strong consumer demand for DVDs.
Additionally, consumer spending on books rose by 33% in the last 5 years.
But who has won this share of spend, the specialists or the non-specialist?The UK music market has continued to out-perform the global music market, which has been in decline for a number of years.
A decline partly attributable to the proliferation of illegal music downloading and file sharing.
The opportunity for growth in the UK music does however look promising if players can tap into the market of paid-for music downloads.About Mintel’s research… Pooling together the most innovative consumer research and latest market analysis, Mintel's new report offers you all the insight and inspiration you need for designing clever, creative and profitable business strategies in the UK market.
Use Mintel's research to:Develop your sales strategies to win share of developing new markets Discover what consumers think about purchasing books, music and videos Switch UK book browsers, to book buyers Pin point market potential before your competitors Find out how to best reach key audiences with the most effective marketing communications Track the sales performance and trading strengths and weaknesses of the market’s leading retailers Measure market forecasts and build realistic business models.
Intriguing findings include…Women are more likely to have bought a video in the last year than men In 2003, data would suggest an average book price of £7.39 Our research showed that over a third of consumers questioned hardly ever bought CDs, while 21% revealed that they bought a lot of CDs.