Guess who's buying?

One thing that I've noticed since I started reading e-books is that I'm buying a lot more books rather than picking them up from my (excellent) local library. Part of this is because indie books aren't always available at the library, but a larger reason is that they're so cheap, half the time I don't even bother to check if the library has them.

And it turns out I'm not the only one buying more. E-book readers are more likely to buy their own books (via DWS). I would argue that it's the low, low price combined with the fact that e-books are harder to borrow. (Not that it's impossible to lend them, but it takes some thought--are we on the same format?--and it only takes one click of a button to buy....)

How does the future look? Well, according to the press release for the latest 2012 U.S. Book Consumer Demographics and Buying Behaviors Annual Review (via PV), younger adults, who are more likely to read e-books, are now the spendiest readers. 

GenY's 2011 book expenditures rose to 30 percent -- up from 24 percent in 2010 – passing Boomers' 25 percent share. And with 43 percent of GenY's purchases going to online channels, they are adding momentum to the industry shift to digital.