They’re digitally savvy. They want a good quality of life and career growth. They've grown up with iPhones in hand, YouTube at their fingertips and instant access to the internet. Nearly 60% of Gen Z is enrolled in college, making your campus the most uniquely diverse it has ever been.
One big question can weigh on the minds of college administration and faculty at smaller institutions - how can we reduce the costs of textbooks without having the purchasing power to command lower prices? Even with the existence of online retailers who can offer significant savings, there is the additional struggle to make sure the materials students are using their hard earned money on are usable and effective.
As our world grows increasingly more digital, we find that the pace of technological advancement continues to accelerate. We’re at the start of a Fourth Industrial Revolution according to Klaus Schwab, the founder and executive chairman of the World Economic Forum, and we’ve arrived at the start of this new age in less than half the time it took for the Third Industrial Revolution to occur.
With any educational institution, administration and faculty play a crucial role in ensuring students are prepared for the first day of class. The two groups must work together to build enough lead time ahead of class start dates so that faculty can then research, select, and share required and optional course material information with their students. This in turn allows students enough time to shop for the best prices - a necessary process for students to obtain affordable textbooks and be prepared to achieve success from the very start.
How do you compete effectively in the college textbook environment? A significant decline in bookstore sales for the past 5+ years has caused many university administrators to look at the campus bookstore model differently and re-examine its role in serving the student population. Course material needs are changing and books are being replaced with access codes, eBooks, and custom CoursePacks. Shoppers have more options, the convenience and price factors of eCommerce has helped sales grow 15% in the last year alone.
Student expectations are becoming increasingly challenging for administrators. When 1 in 3 freshmen do not return for their sophomore year, there is significant pressure to find strategies to successfully retain students. From the admissions process through graduation day, many institutions are looking for unique ways to serve the changing needs of their campus communities.
