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Culture: What’s fuelling Gen Y’s love of reading?

Girl With a Satchel

First published on http://girlwithasatchel.blogspot.com/.

According to the 2012 U.S. Book Consumer Demographics and Buying Behaviors Annual Reviewconducted by industry trade magazine Publisher’s Weekly and Bowker Market Research, Gen Y’s 2011 book expenditures rose to 30 per cent, up from 24 percent in 2010, passing the Boomers’ 25 per cent share.

The Review noted that 43 per cent of Gen Y’s purchases went to online channels, with online book retailers accounting for 39 per cent of unit purchases, up from 31 per cent in 2010. Still notan enormous share of the total book sales market but on the upswing, e-book consumption rose from 4 per cent of unit sales in 2010 to a not-insignificant 14 per cent in 2011.

BookStats, the annual industry sales survey coordinated by the Association of American Publishers and Book Industry Study Group, found that book sales fell 2.5 per cent over all in 2011 to $27.2 billion, suggesting that there is a profit margin between print and digital to be overcome.

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