From my experience (managing one of the big box home centers) here are the top reason customers purchased laminate over wood.
-Price. Even though some of the 'better laminates' are the same price of the cheaper engineered hardwood.
-They heard it's really good. One of those things where the actual lifespan is to be determined. People often said "I have dogs" or "I have kids"...they think it's more durable until their dog pisses on it or their kid scrapes or drops something on it. While HDF is very dense, it can not be repaired well when damaged.
-Installation. DIY network and HGTV shows make everyone think that they are skilled enough to do things themselve. There is much less worries about installing laminate themselves. They don't need to buy or rent the tools and it pretty fool proof to install.
-Price of nail down/glue down hardwood installation. This quickly can make make laminates 1/5 the price of a hardwood purchase with install.
-They don't have to "worry about refinishing it" even though woods don't need refinished very often and they will probably die or sell the house before it would need to be done.
-Poor quality sales people. Laminate is easy to sell. Most customers get talked out of buying hardwoods, in the process of it being sold to them. I have seen many customers have their eyes glaze over and say "thanks, we'll think about it" when talking to the knuckle head salesman. This then solidifies to the customer "Let's just get the Pergo. It's cheaper and we can do it ourselves....what does acclimitization mean anyways?"
With that being said, I installed 600^ft of Columbia laminate in my old house about 3 years ago. It was great until my dog pissed on it and the seam swelled. This was a moisture resistant product.