India’s ebook market is in tatters, with the number of ebooks sold down to its lowest level in two years.
According to data compiled by The Times Of India and sourced by TechCrunch, the Indian market has been hit by a slowdown in sales of the digital book, which is also known as e-book.
The trend of ebook sales declining was observed in April, with sales down 17% in the last fiscal.
“We’ve seen some drops.
There’s been a drop of 17%, which is quite bad.
The average number of books sold per day is still down.
We’ve been in the market for almost five years now and we’ve seen a decline,” said Kunal Patil, chief executive officer of eBooks India.”
The trend is now, it’s very tough for the industry to stay afloat.
It’s not just for e-readers, it is for any e-reader,” said Patil.
Amazon India’s online store had reported a 22% decline in ebook sales in the fiscal, as well as a decline of about 10% in book sales.
“There are a lot of factors, but overall, ebook sales have been declining,” said Anuj Agrawal, executive director, ebook group at e-commerce firm Flipkart.
Amazon did not respond to questions sent by The Financial Times.
Last year, the company said it was taking steps to make its online services more competitive and more convenient, but it had not made any big changes.
According the latest data, the total number of ebook readers is about 1.6 billion, which represents only 0.5% of the Indian population.
The figure is lower than the estimated 3.3 billion e-reading users in the country.
The Indian e-books market is still a young one, with books being sold at a much slower pace than digital.
In 2016-17, the e-favourites sector accounted for only around 40% of all e-reads sold.
Amazon and Flipkarts, which have been the two big players in the Indian ebooks market, have been competing for the digital market for some time.
Amazon is trying to build an ecosystem of e-marketplaces that would bring the Amazon and FlipKart ecosystem together, as the company has launched an Amazon Prime store in India in December.
The move has been hailed by e-retailers and e-tailers, but the strategy is still controversial in the ebooks space.
While Amazon Prime has been widely praised for its convenience and convenience of ordering and paying, critics have said that it has failed to offer sufficient discounts on Amazon products.
Amazon has been targeting its Prime service in India as a way to bring e-sellers in the US and other markets in the region.
“As we look at Prime and the growth opportunity it represents for Amazon, I am confident that we can build a better e-store ecosystem in India and in the broader digital ecosystem,” said Agrawale.
“This is the right time for Amazon to take steps towards its vision to create a global e-seller ecosystem, including the Prime e-shop,” he added.
Amazon, which has around 60% market share in the digital e-stores, recently launched its Amazon Echo voice assistant, which allows people to order and pay for goods from Amazon.