How a Managed Online Bookstore Can Create New Revenue Opportunities

It’s safe to say that changes in student purchasing behavior, in course material options, and in technology have disrupted many college bookstores, a once-stable revenue source for textbook sales. Bookstore earnings are down by as much as 35% at colleges and universities and P&L statements show an increasingly common theme: administrators need to find a solution to the issue of declining revenues.

A number of possible options can help. One solution that allows universities to regain the income lost to online competitors like Amazon while also creating new opportunities for profitability and cost savings is the online bookstore model. By transitioning the college bookstore to a centralized online model for adoptions, purchasing, and access, schools can free up valuable physical space, provide a single platform for physical and digital course materials, and get deeper insights into bookstore and course material utilization. With an online bookstore partner, many operational tasks—from inventory ordering to logistics to customer support and even buyback programs—can be delegated, enabling university staff to focus on higher-level strategic goals.

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How Managed Online Bookstores Allow Colleges to Conveniently Adopt & Shop

If you’ve noticed life as a consumer has changed over the past decade, the transformation can be traced to one word: convenience.

It’s why Amazon has one-click purchasing, Instagram is now shoppable, and retail stores have implemented easy cashier-less checkouts. Consumer expectations have transformed at a rapidly accelerating pace—and university bookstores and their customers are not exempt from this desire for convenience.

Even as shopping becomes more accessible from wherever, whenever, many brick-and-mortar college bookstores have struggled to keep up with the pace of change: it’s one of the reasons why bookstore sales are down by as much as 35%.

As universities continue to find ways to evolve with their students to ensure student success and retention, the model of an online bookstore managed through a partner is becoming a clear and convenient solution.

With 24/7 availability, expanded selection of inventory, lower costs, and convenient ordering and shipping, online bookstores are allowing universities to focus on meeting faculty and student needs when it comes to course materials and their effectiveness  (learn more about the 5 benefits universities see after adopting an online bookstore).

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How Managed Online Bookstores Create Greater Visibility & Access

Dozens of variables impact how well a college student learns and retains information, and the most obvious factors are the textbook and course materials the student uses.

But until recently, it's been difficult to make a connection between course material content and student success. Knowing if a student has obtained a textbook, let alone opened it, is something that faculty and administrators have largely been unable to monitor or measure.

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August 22, 2019 | by Eric Choi | in Online Bookstore, Course Materials

5 Benefits Universities See After Adopting a Managed Online Bookstore

The basic concepts taught in Physics 101 or Intro to English Lit might have gone largely unchanged for several years, but make no mistake: there are massive changes occurring within the textbook and course materials landscape.

With new expectations from students, faculty, and administrators, paired with advances in technology, course materials have transformed, disrupting the status quo. When it comes to how students obtain and interact with their course materials and how faculty and administrators adopt and distribute this content, the university bookstore is at the forefront of this disruption.

With more universities transitioning to an online or hybrid bookstore from a traditional physical bookstore, many educators want to understand what’s driving this change and what this means for their university and student success.

Here are 5 key benefits that show how managed online bookstores are an opportunity, not a challenge, for university revenue, student success, and faculty satisfaction.

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North Central College Selects Akademos for New Online Bookstore Service

Unique platform and marketplace will provide students with personalized service and affordable course materials, and the College with data and tools to support student success  

North Central College in Naperville, Illinois, has selected Akademos as its online bookstore provider to help students obtain significant savings on course materials, a wider selection of textbook formats and payment options, and a best-in-class personalized ordering experience. The College plans to launch its online bookstore in the fall of 2018.

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Wingate University Partners with Akademos to Provide Lower Course Materials Prices to Students

Personalized service, support of student success, and actionable data to be provided by Akademos platform and marketplace  

We are proud to announce that Wingate University has selected Akademos as its online bookstore provider to help students obtain significant savings on course materials. A multicultural, private university with students from 37 states and 13 countries, Wingate offers undergraduate degrees in its schools of business, arts and sciences, sport sciences and education. Nine graduate programs are also offered in a variety of disciplines. The University, which values getting to know each student as an individual, will launch its online bookstore this spring to support its Summer Term 2018.

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