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Used book market in the UAE poised for explosion

Reduced prices see readers thronging to used book stores like Bookends

The global used book market is valued at a little over $25 billion of which the UAE market is estimated as $27 million, according to a recent report by the Research Business Company.

“Our revenue accounts for 1 per cent of the projected UAE market share. We see a huge potential for growth in the country,” said Grace Karim, co-founder of Bookends.ae, a used book store in Dubai Silicon Oasis.

Since its launch in 2020, Bookends has managed to rehome over 120,000 books and built a community of more than 1,400 sellers and served more than 10,000 customers. Its online inventory consists of over 20,000 books and our physical store houses more than 7,000 books.

“In 2023, we achieved a 30 per cent revenue increase. Our year-to-date performance in 2024 indicates a 10 per cent growth compared to the same period in 2023. We project a 20 per cent year-over-year growth by the end of December 2024. Our five-year forecast anticipates a 50 per cent growth trajectory, driven by strategic expansion initiatives currently underway,” Karim said.

The journey hasn’t been easy.

When Grace and her friend Somia Anwar first came up with the idea for Bookends.ae, it stemmed from a common struggle many parents face - finding a variety of books at affordable prices.

“Somia and I are good friends, and we always discussed the struggle of getting a variety of books at low prices because new ones are expensive,” Grace explains. “This is how the idea was initially born.”

Grace and Somia launched the Bookends.ae website in February 2020, just before the Covid-19 pandemic hit. While this presented challenges, it also created an unexpected opportunity. “People were fed up with screen time and wanted some relief,” Grace says. With more people browsing social media during lockdowns, Bookends was able to reach new customers online. “Throughout, we were receiving orders and delivering books.”

The business grew quickly, allowing them to move into their own space in Dubai’s Silicon Oasis by November. But the path hasn’t always been smooth. Grace cites several major hurdles they’ve had to overcome, with brand awareness being a persistent challenge.

“Spreading the awareness of Bookends has been a challenge from day one,” Grace admits. To tackle this, they’ve adopted a strategy of partnership. “We are trying to collaborate with other businesses along with our monthly budget for advertising,” she explains.

Four years into her entrepreneurial journey, Grace learned about Canon’s Women Who Empower Program through her Dubai Business Women Council membership. Initially drawn to the program to improve her videography skills, Grace saw an opportunity to enhance her entrepreneurial toolkit. The programme has had tangible benefits for Bookends beyond just skills and networking. “Thanks to the generosity of Canon, we are providing a new line of products after we were gifted a printer,” Grace shares. This printer has allowed the company to diversify its offerings and create custom products for their customers.

The Dubai Business Women Council has played a crucial role in Grace’s entrepreneurial journey beyond just introducing her to the Canon program. “The organization, part of Dubai Chambers, regularly provides beneficial collaboration opportunities and panel discussions to improve our entrepreneurial journey,” she explains. Last year, Grace participated in an accelerator program that enhanced various aspects of her business skills, from financial management to marketing strategies.

Karim said that while most readers prefer an actual book, they moved to digital alternatives because they consider it to be cost effective and convenient. “With our continued price drop offerings, we have seen readers switch back to actual physical books as they have become more affordable. Additionally, an actual book still holds its charm which is irreplaceable by other means. It allows the reader to have quality uninterrupted time to delve in the magical world of a story,” she said.