Published on Red Orbit.com.
NEW PROVIDENCE, N.J., Aug. 14, 2012 /PRNewswire/ — Generation Y, those born between 1979 and 1989, spent the most money on books in 2011, taking over long-held book-buying leadership from Baby Boomers. That’s according to the 2012 U.S. Book Consumer Demographics and Buying Behaviors Annual Review, the publishing industry’s only complete consumer-based report integrating channel, motivation and category analysis of U.S. book buyers. The Review, an information staple prepared by Bowker® Market Research and industry trade magazine Publishers Weekly, notes that 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.
“The book industry is operating in a new and dynamic landscape that puts much more power in the hands of consumers,” said Kelly Gallagher, vice-president of Bowker Market Research. “Consumers can now very easily purchase virtually any book they want, whenever they want it and get it at a competitive price. It’s more essential than ever before to understand who is buying and what their expectations and habits are.”
The Annual Review explores demographic changes in the context of overall market trends culled from the Bowker Market Research consumer panel of almost 70,000 Americans who bought books of any format and from any source in 2011.