On April 15, 2011, CNN Money reported that sales of E-books outpaced those of paperbacks for the first time.
The growth of e-books is stunning; sales rose 202% from February 2010 to February 2011, and Amazon reported in January 2011 that its sales of e-books surpassed those of paperbacks.
Good news for trees, writers, and Amazon. Bad news for traditional book publishers and traditional book stores.
The PACE of the shift is what is so stunning to analysts. And this pace spells doom to bookstores who are unable to accept this new reality and make quick and nimble adjustments to their business model. The world has fundamentally changed.