We all know that price is essential to winning student business. And, convenience is the key to keeping it. In order to gain continued sales from any customer, you have to ensure that your store’s processes are simple and seamless for both your staff and your students; which is exactly why Stacy Elofir, director of University Store at Towson University, decided to create an after-hours drop off option for rental returns.
Since University Store at Towson University began their rental program two years ago, Stacy Elofir, director, has been strategizing ways that the store could offer their entire inventory for rent. Dedicated to offering students the best value, Elofir was determined to make the idea both financially and logistically feasible for the store.
Amazon.com Inc. announced the launch of a new print textbook rental program last week. With such a significant retailer entering the rental game, it is more important than ever for college stores to offer the option to students.
Rental programs offer significant upfront savings to students; however, not all are aware of the benefits. To help students better understand the advantages of his store’s program, Jeff Wieck, textbook program coordinator. of University Bookstore at Eastern Washington University, decided to show rather than tell them about the cost-saving option.
Based on a financial analysis, NACS recently found Three Rivers College Bookstore to be three times more profitable as a percentage than the average community college bookstore; Bob Jansen, Executive Director of Retail Operations, attributes a big part of that achievement to the store’s rental program.
Although a rental program had long been in place at Three Rivers College Bookstore, Bob Jansen, director, decided that it could use a little updating. With the goal of becoming the most profitable college store in the nation as a percentage of sales with one of the lowest textbook costs, he wanted to expand the store’s program. Recognizing the difficulties of doing so on an outdated system, however, Jansen first went in search of a serialized rental program that could be more effectively managed.
With upfront savings on their minds, students across the country are demanding textbook rental. But, many college stores are hesitant to offer the option because of the extra labor and financial risk involved. Wichita State University Bookstore, who has offered rental for the past three semesters, was definitely no exception.
From working summers with his father at the college bookstore at the age of 13 to newly appointed Vice Chancellor of Auxiliary Services and Enterprise Operations at the San Mateo County Community College District, Tom Bauer has truly seen the collegiate retail industry evolve throughout his career.
Growing up in a generation raised on computers, students expect information at the speed of now. But with tight budgets and a never ending to-do list, it can be hard to staff enough employees to provide instant answers for each customer. New technologies, such as QR Codes, however, offer an easy solution.
At MBS, our most intrinsic value is to simplify all things textbook-related for our partners. That’s why we continually strive to provide you with superior products and services to simplify your store’s essentials. But, our innovative solutions aren’t born overnight. Over the next two weeks, we will give you an in-depth look into our company’s journey with one of the most popular textbook options today, in our four-part Rental Series. See firsthand how we took this trend to the next level, from conception all the way to the announcement of our latest MBS Rental enhancements!
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