50% of the people who use Kindles are over 50 years old. Twenty-seven percent were over 60.
Since the Kindle qualifies as "new technology", it is supposed to find its initial market among the young and impressionable. The opposite appears to be true. People who should have fixed habits including reading physical books using reading glasses are buying an electronic book reader instead.
The Kindle is not cheap. With money being tight, it may be that older, affluent consumers are much more likely to spend $359 than the younger, unemployed people who will graduate from college this year.