The Independent in London makes a lot out of a report by youth-marketing expert Alloy on the purchasing intent among college students:
Consumer group Alloy Media + Marketing released a report on July 7 detailing a 13% rise in ‘back to school’ spending by US college students, giving a combined total of $306 billion.
According to Alloy media + marketing, the students will spend an average of $361 per person on non-essential or non-compulsory items, such as games, when they return to school in autumn.
Although currently only 2% of students own an e-reader device, 50% of those surveyed plan to buy one within the next year.
Barnes & Noble (BKS) and Amazon (AMZN) have already cut their prices to get the e-readers well under the $361 average budget. We’ll see soon whether these survey numbers are borne out in actual sales. But the data does suggest that E-ink readers still have a market position into which they can grow and expand.