Since 2013, book retail sales in specialized stores in Belgium have shown significant fluctuations. Notably, there was a high increase in 2014 followed by a drastic decline in 2015. The value for 2023 stood at 497.1 million Euros. The period between 2016 and 2020 was characterized by a continuous decline, reaching its lowest in 2020. However, there was a rebound in 2021. Thereafter, moderate gains were seen up to 2023. The compound annual growth rate (CAGR) from 2018 to 2023 was 1.59%.
- 2022-2023 saw a year-on-year increase of 0.77%.
- 2020-2022 witnessed recovery, moving from decline to modest growth.
The forecast for the period between 2024 and 2028 indicates a slow but steady growth with an estimated 5-year CAGR of 0.5%, predicting a growth rate of 2.54% over this period.
Future trends to watch for include the potential influence of digital transformation on physical bookstores, shifts in consumer purchasing behavior post-pandemic, and the expanding role of e-commerce in book sales. Strategic adaptation to these trends will be crucial for sustained growth in the books retail sector.
