Revolution from business’s old guard has been slow to catch on. For much of the last decade, the retailers, entertainers, manufacturers and services which have been disrupted by novel tech companies seemed to have accepted their fate. Many have watched customers dwindle as the allure of a convenient tech-based alternative temps them away.
Nowhere has this disruption been more keenly felt than in the publishing industry, where Amazon (US: AMZN) has an unmatched ability to ship books in quick time and at low cost. Bookshops battling with physical costs have struggled to match the prices of a retailer for whom profits don’t seem to matter. Amazon’s share of the print book market is now estimated at around 50%. For e-books, its closer to 90%.
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