The viral videos with the hashtag #BookTok have attracted billions of views and are driving demand for books — often older, backlisted titles — benefitting book retailers and the publishing industry at large.
For
"The popularity of reading on
The book and lifestyle retailer reported higher revenue and lower losses for its first quarter compared with the same period last year.
"This evolution of social commerce in the book space is exciting," he said during the call. "Not only does Indigo’s market leadership position benefit from the organic user generated content on BookTok, it sparks a sales resurgence for many previously released titles."
In addition to introducing a "new demand lifecycle," Loudon said the backlist titles tend to have fewer promotions tied to them than new bestsellers, delivering stronger margins for the bookstore.
Indigo now has a page on its website dedicated books trending on #BookTok, saying "discover what books are most popular on
The company reported a revenue of
Reisman said the 27 per cent revenue rebound reflects "the beginning of a welcomed recovery in retail."
The uptick in sales came despite protracted COVID-19 store closures in the quarter in
Indigo's
"With meaningfully diminished COVID-19 restrictions across the company's retail network, we are seeing the positive impact of a full retail fleet in the early weeks of the 2nd quarter," Loudon said.
Indigo reported a net loss of
This report by
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