Toronto book trade trade hits another milestone: 3,000 books traded
Trade volume on the Toronto book exchange has reached 3,100, marking a new high, according to data from the Ontario Lottery and Gaming Commission.
The total number of trades has reached 7,000 for the first time in the company’s history, and the trade volumes of the top three book dealers, Booksellers & Co., are up by about 25 per cent.
“I think the fact that it is happening now, it is an amazing thing for us,” said Gary Smith, the commission’s deputy commissioner.
“It is really good news, it’s really encouraging news.”
The rise is due to a number of factors, said Mark Miller, a former director of the commission who now runs the trade association Booksellings Canada.
He said the market has been “really saturated,” and that the demand for books has been growing.
The numbers, he said, show that the “labor-intensive” nature of the trade has contributed to the success.
“They have been able to make the market a lot more attractive for people who would like to buy books,” he said.
“We’re seeing a lot of people coming to us.”
In a report this week, the book trade commission warned that book-selling in the GTA is on track to exceed 10,000 transactions per day, surpassing the record set in 2012.
The GTA book trade has been at a high point, with more than $1 billion in book trades each month in the last year, and has been attracting a steady flow of visitors.
The commission also noted that the number of books traded in the region has grown faster than anywhere else in the country.
In 2014, the region recorded more than 50,000 book sales.
More recently, book-trading activity has been on the rise in the Toronto area.
Booksells Canada is in the process of launching a book-trade exchange at the corner of St. George and Bathurst Streets, near Pearson International Airport, that is expected to open next month.
The new site is expected be a joint venture between Bookselling Canada and the city of Toronto.
“That site will be our gateway to book trade in Toronto,” said Smith.
The city of Ottawa recently opened a book trade platform that allows booksellers to sell their books to customers across the city, including at city libraries and in parks.