I rarely buy pbooks because I'm out of shelf space and I'm tired of moving boxes and boxes of books every time I move. I'm also not likely to spend $15 (trade) to $28 (hardcover) on a book or author I haven't read before. I typically get it from the library first, and then purchase the book if I decide I want to read it again.
Edit to add: 75% of the pbooks I do purchase are used. So I'm actually spending more on books overall, but they're all ebooks.
I'm much more likely to buy ebooks because (so far) they're cheaper and don't take up shelf space. If I don't like it, well, I'm out $5 and I don't have to figure out what to do with the book I just hated. I still get some books from the library if I judge the ebook to be too expensive or if it's something I don't plan to reread. For example, I'm reading a bunch of pregnancy-related books right now, and I get all those through the library.
I have mostly converted to ebooks just because they're so much more convenient, and I love being able to hold Giant Fantasy Novels in one hand while laying in bed. And not have to worry about losing my page or trying to turn a page from an awkward sitting position.
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