Akademos_Blog

NACUBO Session Recording Available: The Hybrid College Bookstore Model

Posted by Lauren LaFronz on July 21, 2016

If textbook affordability is important to your institution and you're open to learning about new bookstore models, you'll want to request the recording of our interactive session with Labouré and Berea colleges from the 2016 NACUBO Annual Meeting.

This well-attended session, which received a lot of positive feedback, covers how the new hybrid college bookstore model reduces textbook costs, improves bookstore sales and increases student satisfaction. The recording and presentation materials can be requested by clicking here or on the button below.

The session covers how combining a school-sanctioned website with an on-campus shop can:

  • Improve textbook affordability, bookstore sales and the textbook purchasing experience

  • Provide the flexibility required to transition to new digital learning platforms and materials

  • Win back students by applying advanced technology best practices

Request Session Materials

If you attended the session and want additonal information about the hybrid bookstore model, contact us or request a copy of our hybrid bookstore model white paper.

Topics: Webinars & Events, Bookstore Sales, Textbook Affordability, New Bookstore Models

Price & Convenience: The Keys to Growing Your Textbook Sales

Posted by Lauren LaFronz on June 7, 2016

Growing numbers of college students are abandoning the campus bookstore and purchasing textbooks from less expensive third-party websites - but it’s not only price that’s driving them away.

A recent survey conducted by Akademos on college student textbook purchasing and bookstore services reveals that “convenience” also plays a very influential role in where students decide to purchase course materials, with 58% of students citing it as a critical factor affecting where they buy or rent.

college-textbook-affordability-2.jpg

This data point highlights the importance students place on the flexibility of anytime, anywhere Internet shopping, and indicates that adding a competitive online component to your bookstore strategy could increase sales and overall utilization.

If your college already has a bookstore website, or if you’re in the process of evaluating virtual bookstore options, you can secure an advantage over your current or future online competition by providing features that go beyond the basics to deliver the ultimate in convenience and a superior student experience.

For example, 40% of students surveyed by Akademos have used financial aid to buy or rent course materials, suggesting that it would be worthwhile to ensure your bookstore website enables students to seamlessly apply financial aid towards their purchases – a feature not offered by non-affiliated third-party sites.

In addition, given that students are accustomed to using smartphones for viewing websites and making purchases - over 62% of our survey respondents provided their information using a mobile device – it’s advisable to ensure your online bookstore is mobile-optimized so students aren’t inconvenienced by an awkward, frustrating user experience.

Request a complimentary copy of our white paper to get more actionable recommendations for improving bookstore sales and view the complete results of our survey. 

 

Request the White Paper Now

 

Topics: Bookstore Sales, Research

Study Confirms Colleges Can Improve Student Satisfaction, Bookstore Sales & More by Providing Key Online Services

Posted by Lauren LaFronz on May 10, 2016

It’s abundantly clear that high textbook costs are a critical issue for colleges and their students. What’s not as clear is how to effectively address this highly-complex, multi-faceted problem.

Our new study, available free-of-charge, provides proof that addressing college textbook affordability with specialized online solutions is highly effective and positively impacts student satisfaction, bookstore sales and academic success. The study contains a comparative analysis from two surveys recently conducted on college student course material purchasing and bookstore services.Textbook-Affordability-Study-Thumbnail.jpg

 Request a copy of the study

One survey was administered exclusively to students currently enrolled at Akademos partner schools, and another, identical survey was administered to college students enrolled at a random sample of "non-partner" institutions throughout the country. Several notable differences are revealed in the analysis including:

  • Students at institutions offering an extensive selection of low-priced textbooks are significantly more satisfied with textbook costs than students in the general population

  • Students at institutions providing a peer-to-peer marketplace as part of an online bookstore solution are considerably more likely than students in the general population to purchase all required course materials

  • Students at colleges offering first-rate bookstore websites are much more likely than students in the general population to be prepared for class with all required materials

  • Students at institutions with mobile-optimized, school-sanctioned bookstore websites are significantly more likely to forego purchasing textbooks on Amazon and other third party websites

This comparative analysis follows on the heels of the white paper we released last month containing the results of the survey administered to college students at "non-partner" institutions.

Request the study to read the complete analysis and learn about the specific online services that reduce college textbook costs and improve key metrics including student preparedness, student satisfaction and bookstore utilization.

Request the Comparative Study 

Topics: Bookstore Sales, Research

Why Students Are Leaving The College Bookstore - New White Paper

Posted by Jonathan Shar on December 2, 2015

Our new white paper, Why Students Are Leaving The College Bookstore, was released today and is now available for download. 

Learn from this exclusive new white paper:

  • What's driving students away from the school-sanctioned bookstore
  • The unique advantages the college bookstore has over non-affiliated third party providers
  • The secret to winning back your students

why_students_are_leaving_bookstore

Click Here to Download the Exclusive White Paper

Find out how other institutions are transforming their college bookstores into a best-in-class student service and seeing significant improvements in textbook affordabilitystudent satisfaction, and bookstore utilization - even as student demands for accessibility, convenience, and affordability accelerate.

Download Why Students Are Leaving The College Bookstore today - available at no charge.

Topics: Bookstore Sales, Research

Why Textbook Rentals Are On The Rise

Posted by Jonathan Shar on May 11, 2015

Two years ago, Akademos published the first comprehensive survey of College CFOs regarding the future of college bookstore and textbook services and in an exclusive webinar held on April 29, released the preliminary findings of the 2015 follow-up study.

In both, participants were asked to estimate the breakdown of their bookstore's textbook sales.

The latest survey found that on average, new books still represent the largest % of textbook sales; however in just two years this percentage has declined significantly (now 38%, down from 52%) - with Rentals growing by more than 60% (from 14% to 23% in 2015).

rental_compSource: CFO Survey on Textbook Delivery and Bookstore Services. Akademos, 2015. 

In addition, in another survey question when asked about the importance various services to the "Future of your Bookstore"; 73% rated Rentals as "Very Important," up 26% from the 2013 study.

Textbook Rentals are clearly on the rise, but why and is it the most cost-conscious choice for students? Robert Pignatello, SVP of finance and Administration at CUNY’s John Jay college and Akademos CEO John Squires addressed this topic during the webinar.

“The net ownership cost of textbooks is a key consideration,” commented Squires.“Often, rentals have a lower up-front cost to the student but can be more expensive long term.”

Pignatello agreed, saying “we [college administrators] have an obligation to look at the total cost of ownership, and to help our students make the right choice. Often times, buying a used book and selling it will cost less than renting.” 

To learn more about key trends and predictions on the future of textbook sales and campus bookstore services, the full presentation and recording of our "2015 College CFO Survey on Textbook Affordability and Bookstore Services” webinar session is now available for free download. 

Click here to request webinar materials

Topics: Bookstore Sales, Research

Why Campus Bookstore Textbook Sales Continue to Decline (According to College CFOs)

Posted by Jonathan Shar on May 7, 2015

Two years ago, Akademos published the first comprehensive survey of college CFOs regarding the future of college bookstore and textbook services - and in an exclusive webinar held on April 29, released the highlights of the eagarly aniticpated 2015 follow-up study

In both surveys,participants were asked to estimate the trend line in their bookstore's textbook sales over the past 3 years.

In the latest survey, 91% of respondents indicated textbook sales have been flat or down over the past three years and in just two years there was a 36% increase in CFOs reporting declines of more than 10%. 

cfo_survey-3
Source: CFO survey on Textbook Delivery and Bookstore Services. Akademos, 2015. 

the survey data reviewed during the webinar provides some valuable insight into why sales declines have accelerated and why they are likely to continue to decline in the future. 

Robert Pignatello, SVP of finance and Administration at CUNY’s John Jay College shared some valuable insights on this topic as one of the featured speakers during the webinar and commented on his own expereince and observations:   

"We started to think about providing low-cost options to students and re-thinking the traditional way of viewing the college store," recalls Pignatello. We began to build up other areas of revenue producing activity at the college, knowing this trend was going to continue. In a few short years we saw [textbook sales] go down by 50%, and it continued to go down."

To learn more about key trends and predictions on the future of textbook sales and campus bookstore services, the full presentation and recording of our "2015 College CFO Survey on Textbook Affordability and Bookstore Services” webinar session is now available for free download.
 
Click here to request webinar materials

Topics: Bookstore Sales, Research