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.
The other weekend, I stopped by the local mall for the first time in well over a year, and I noticed a few surprising changes. For one, it was past lunch hour, yet the food court was still packed - and not everyone was eating. Many were simply using the space as a place to hang out.
Another thing that surprised me was that the mall still had a Barnes & Noble, although it had very little foot traffic, especially for a weekend. Inside, half the store appeared to be your typical Barnes & Noble that I remembered - books and magazines; but the other half of the store was dedicated to toys, games, and gifts.
I realized that what’s happening at the mall as well as Barnes & Noble mirrors what’s happening with many campus bookstores at colleges and universities. Call me Captain Obvious, but it’s pretty apparent that both the mall and campus bookstore need to evolve in order to survive - becoming more of a multi-purpose destination to not just shop, but to meet, eat, and socialize.
In the coming weeks, millions of students will be returning to college and university campuses. The air will be full of excitement as existing students settle in for a new year and new students look forward to a new chapter. Dorms will fill up with boxes and suitcases and the quad will fill with tables representing campus activities and student organizations. Campus bookstores will offer extended hours as students search for their books and materials. These students will spend hundreds of dollars, some over a thousand, this semester alone. Increasingly, this spend will not occur inside the bookstore.
How Your Campus Can Prepare for the Influx of the First True Digital Natives
While many of us remember life before the Internet, there is an entire generation that’s never lived without it. Generation Z, born 2001–2013, grew up in the digital age, where tablets, smartphones and instant access to information were all a part of their day-to-day reality literally from birth. They’ve seen technologies become obsolete as quickly as they’ve been created so, despite their young age, they’re skilled at adapting to new modalities. Generation Z is accustomed to choice, instant information, speed and ease of use – at home, socially, and in their classrooms.
Register for our new webinar on October 17th, 2017 from 12:30 PM-1:30 PM EST. This live interactive session will provide powerful insights, key lessons learned and best practices for successfully transitioning to a new hybrid college bookstore model.
New eBook provides valuable insights on bookstore models that address and support textbook textbook affordability, accessibility and student success.Today, we announced the release of an exciting new eBook highlighting bookstore models that help institutions better meet the growing student demands for lower-cost textbooks and course materials, more choice and greater convenience. The eBook uncovers new insights on the future of college bookstores and strategies that can effectively compete with low-cost third party websites and support an institution’s transition to digital learning materials.