Have Books Been Distilled Down to a Commodity? Will Any Book Do?

One of my greatest joys was my weekly trip to a bookstore. I didn’t have to be looking for anything in particular. I just liked being in a book store and always found treasures to take home. I became addicted to the bargain priced hard cover table. I especially loved finding first time authors in hard cover for under $5.00, less than the price of a MMPB. I have a debut author collection in pristine condition, but haven’t added to that collection in a while. I still buy physical books in any format, but much fewer than I ever did.
How I buy now has changed since I have my e-reader. Technology gets me excited these days. In seconds, I can buy a book and start reading. The convenience is a marvel and I can shop and buy any time of the day or night. No store hours. No holiday closures. No “Sorry, we’re out of that book. Can I order it for you?”
After Joe Moore’s intriguing post yesterday on “The Great MMPB Vanishing Act,” it got me thinking about the quality of a book if the outer packaging goes away and all that’s left are the words. What defines quality then? Do books become a price driven commodity? Will any book do? How much will price play into the decision to buy for the average digital reader?
The Big 6 publishers have all seen revenues rise significantly as a result of ebook sales. B&N shows 140% increase in digital sales; Penguin and S&S indicate digital to be 14% & 15% (respectively), Hachette is reporting ebooks as 20% of US Sales; and Bertelsmann/Random House are reporting their digital sales in the first 6 months of 2011 has exceeded all their digital sales in 2010. Volumes might be down, but profits are up slightly. So it would appear that publishers responded to the market and moved their emphasis to digital at a decent time. No forward thinking, but they reacted to a trend and have seen benefit from that change.
But all this comes at a time when lawsuits are heating up on accusations of price fixing. Apple and major publishing houses face class-action lawsuits over allegedly conspiring against Amazon’s discounted $9.99 price point. More parties have jumped in the fray. The complaint focuses on the agency model where the publisher, not the retailer, sets the price for ebooks.
What no one seems to be talking about is how these increased digital sales are breaking down by price point. Indie book publishers certainly seem more nimble to adapt to a market trend or test a discounted price in order to increase overall sales, but what about perceived quality—Indie vs. Big 6? As readers, I think we know a quality book. It’s a subjective determination, but when you make a decision on a digital book, do you look at the publisher name? How much does price enter into your decision to buy?
Will any book do? Distilled down to words, are we turning books into commodities to be traded purely on price? If this is true, what ramifications could follow?