I think it's lag time. Personally I (almost) quit buying ebooks a couple of years ago when Apple implemented agency pricing for everybody. Now that the courts have ruled those contracts illegal I'm starting to buy them again. I'm assuming others are doing likewise but it'll take time before that starts showing up in the statistics.
And I get tired of the arguments that ebook costs are minimal. It's true that printing & shipping costs are eliminated but those are the smallest part of publishing costs-by a large margin. About the only ebooks that should be 'low-cost' are older ones-and those are arguable. If the publishers did their jobs right when the book was first published then they have the proof-read version available in electronic form and it would require minimal work to (re)publish it in ebook format. Unfortunately few publishers seem to do their jobs right. Should consumers pay for the mistakes of the publishers? Probably not-but they do, don't they? I just don't see any way around that.
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