Best eCommerce website: Bookshop.com has an estimated value of $1.2 billion, making it Australia’s fifth most profitable website with an annualised revenue of $831 million.
Best eMerchants: Bookshops.com and Booking.com have an estimated revenue of just under $300 million each.
Best Bookstore: Bookstamp.com, Booking, and Bookseller.com are all in the top 25.
“We are incredibly excited to be joining this elite group of ecommerce companies that have proven themselves with their success,” Bookshop CEO Andrew Fonseca said.
Bookstore’s chief financial officer said the site’s success would not be in the hands of any one person, but rather by the company’s team.
“There’s no one right way to do this business, there’s no formula, no magic wand,” Mr Fonsca said, adding the site was now focused on “a lot of things we want to do”.
Bookstore was founded in 2009, and since then it has grown to over 600,000 members with a $2 billion valuation.
“Our biggest challenge right now is that we don’t have a lot of traffic,” Mr Flonscah said.
Mr Fonssa said the company would be looking to grow and that its growth was driven by the following three key factors: The number of new members who want to shop online Bookstores, Bookshoppes, and the Bookstore.com platform, which is able to serve all bookstores.
“This is going to be a growth industry for us,” Mr Finscah continued.
The company has recently partnered with Amazon and Booktopia to bring Bookshop to the US.
Bookshoppers: Bookseller is Australia’s sixth most popular ecommerce platform, with an estimated annualised value of about $1 billion.
Bookshop’s CEO Andrew Flonsecaa said the growth of Bookshop would be driven by three key areas: New members, the growing popularity of the Bookshop platform, and a desire to shop more frequently.
“New members are our key driver of growth,” Mr Foonsecah said, and they have been a key driver to Bookshop growth.
Bookseller has a total of over 8 million members, of which around half are new to the site.
Booksellers customers spend $6.2 million on their shopping each year, which accounts for almost two-thirds of Bookstore revenue.
Mr Flonssah said the Bookseller platform would provide Bookshop with the ability to “reach more people”.
“There is a huge opportunity for Bookshop to grow their business, and grow the platform,” he said.
“That’s why we are working with Amazon, Booktopia, and our own partners to grow the business and build a great platform for Bookstore.”
The growth of the bookseller business in Australia has been driven by a number of factors.
“The demand for books is skyrocketing in Australia,” Mr Boasch said.
The growing popularity and demand for eBooks has been driving a huge increase in the number of eBooks available.
“It’s been great for us because we can sell more books than ever before, but it also means we have to pay a lot more for the space,” Mr Flanscah added.
The success of the business is due to a number different factors, Mr Foos said.
First, the popularity of ebooks has been phenomenal, which has meant bookstores can sell a lot fewer books.
Bookstores also rely on a lot less staff, which makes it easier for Booksells to scale up.
“People like bookshops because they’re fun and they’re easy to work with, and also they’re really easy to make money from,” Mr Roan said.
New members: The success in Bookstore is due in large part to a growing number of customers who want more books.
“You have a number [of] new members joining Bookshop every month, and we are able to deliver more books on a daily basis,” Mr O’Connor said.
As Bookstore grows, Mr Oar said Bookshop could see an influx of new eCommerce companies.
“One of the things we’re seeing is the growth in the ecommerce market, particularly for ebooks,” Mr Owen said.
In the last quarter Bookshop grew almost 200 per cent in monthly active memberships, with the most significant increase coming from eBooks.
BookShop’s founder Andrew Flosscah believes that the success of eCommerce will lead to the growth and expansion of the industry.
“As Bookshop continues to grow, we’re going to see more and more eCommerce businesses pop up.
And as Bookshop grows, we’ll see more eMerchant sites popping up,” he explained.
Book Shop’s business model is based around the idea that Bookselling is a store