Based upon the early findings, data availability is adequate per the pivots provided in the summary below.
Children's Book Market
- According to IBIS World, the children's book market in the US is currently valued at $2.5 billion and is expected to grow to $2.55 billion by 2022.
- IBIS data indicates that the market has expanded by about 5.4% per year between 2016 and 2021 - therefore, a reduction in growth is predicted for this year, due in part to saturation in the marketplace.
- Despite these predictions, the Society of Children's Book Writers and Illustrators states that "sales for every children’s book format—print, digital, downloadable audiobook—rose during the pandemic." However, they are quick to point out that the types of books that are selling are changing indicating that puzzle and activity books which may have supplemented learning during COVID lock downs and remote learning could have spawned those changes.
- The where of children's book purchases has changed as well, though this change may not see a reversion as quickly.
- "In the first 10 months of 2020, bookstore sales dropped 31%, while online book sales—both print and digital—rose. The Association of American Publishers reported Children’s and YA eBook revenues jumping 69.7% in the first nine months of 2020. Exhausted brick-and-mortar booksellers are bracing for five to six months more of lockdown-modified consumer behavior this year, while prepping for an unrecognizable post-pandemic retail landscape. The American Booksellers Association reported 20% of its member bookstores in danger of closing in 2021; 52 shuttered in 2020. More indie bookstores and consumers will turn to Bookshop.org, an online book retailer that pools its profits for member independent bookstore affiliates. Bookshop.org serendipitously launched as the pandemic began and by the end of December had distributed more than $10 million to its 1300+ affiliate stores."
- According to Publisher's Weekly, "books about social situations, holidays/religion, games and activities, and educational titles are driving the growth in children’s nonfiction with sales in these specific categories up between 5–10%. Popular topics in contemporary children’s literature include books about girl power, diversity, STEAM, wellness and social issues, classics and nostalgia, and humor." Additionally, the popularity of graphic novels across ages continues to grow.
Parenting Information Market
- According to Forbes, the 'new mom economy' (which targets first time, usually Millennial, parents with apps, gadgets, products and services targeting their children under the age of one) is currently valued at about $46 billion.
- Companies like Villyge (formerly MommaWork), Glow Baby, and Cleo are well-known advice and informational players within this space.
- According to the Department of Education, "ParenTech is a technology information initiative designed to educate families about the impact technology has on the ways children learn, work, and live". However, the term has grown since it was first introduced in 1999 to basically serve as the meeting point where parenting and technology come together - especially for parenting information and advice.
- The size of the parentech market in the US is currently about $46 billion and has seen over $500 of private investment since 2013.
Initial research indicates that the parenting information market may be difficult to delineate by segments like parenting book sales or advice app revenue. It is therefore suggested that research pivot to look instead at the 'new mom/parent economy' and 'parentech' as proxy for the parenting information market.