The Australian book industry has operated for more than a century. It has matured into a mid-level English language market, smaller than the US and UK markets, but of sufficient size to generate first-rate books and export significant works to the rest of the world.
Publishers take a risk in paying advances and publishing books that may or may not generate significant sales. Books are unlike most other retail goods, in that trade publishers often accept returns (or negotiate mark-down allowances) for unsold books.
