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Innovation and the Future of China’s Physical Bookstores

Book retailing in China took a hit in 2020, but no other part of the industry was affected more severely than brick-and-mortar bookstores, which saw a decline of 33.8% on a year-on-year basis. The ratio of sales of physical and online bookstores shifted from 3:7 in 2019 to 2:8 in 2020. 1,573 bookstores closed in that year, but 4,061 new bookstores opened shop during the same period of time. What does the life and death of these bookstores signify? This video reveals some of the answers to these questions.