In a matter of weeks, students will start arriving on campus. As they make plans to purchase new books for the upcoming term, it is a great time to remind students how they can get money back for old textbooks they might still have. Giving students this opportunity is not only a beneficial service to them, but it can also increase foot traffic to the college store.
Through COVID, campuses saw many changes to buyback. As a result, many students on campus have never experienced buyback and may not really understand what it is. At the beginning of term, books are top of mind. At the end of term, your store competes with finals, moving/graduation plans, seeing friends, etc. to capture students’ attention. Use this time at the beginning of the term to introduce students to buyback by offering one in your store and/or explain how your store’s guaranteed buyback works.
Setting up an opening buyback
Hosting an opening buyback is simple — the process is exactly the same as setting up an end-of-term buyback. We recommend allowing yourself at least six weeks to set up the buyback event. Simply contact your MBS representative to discuss the buyback dates and details and your rep will help you with the rest.
3 reasons to consider an opening buyback
Increase foot traffic
Never pass up an opportunity to bring more students to the bookstore. Getting a little extra cash for old books at the beginning of term can be a big motivator to get people through the (your) doors, which can result in more sales.
It can be an alternative revenue stream
A beginning of term buyback can help your store earn extra money. College stores earn a commission on guide buys from MBS. Consider whether it might be worth it to include a buyback at the beginning of term and earn a little extra money for your store. An opening buyback is also an excellent way for you to acquire inventory directly from your students for last-minute orders and reorders, should you purchase retail titles during the opening buyback.
Provide outstanding customer service to students
The end of term is often a busy time, especially for students. With finals, packing to move back home and all of the other end of the year activities, students might not make time for buyback. Perhaps the student simply missed the end-of-year buyback, or maybe they might plan to sell the book themselves. However, by the time summer ends and they still have the book taking up space, students could be grateful for this opportunity to get something back for their books.
Set up an opening buyback! Reach out to your MBS representative today and they will guide you through the process.
