After last week’s series of blog posts on saving money on college books, I thought you might be interested in this information from the National Association of College Stores, the professional association of more than 3,000 college retailers. They estimate that the average student will spend more than $2,000 in a college store, so it’s no surprise that stores are doing what they can to get students to shop there–and even save some cash in the process. Here are four of the ways they’re trying to draw shoppers and students through the door.
1. Buying back books. Most college stores do their best to promote a strong used book market through aggressive buyback policies. Over 95% of Cornell University students receive personalized e-mails during buyback season. As a result, the store nearly doubled its supply of used books over two years, allowing them to resell used books for even less. Likewise, the University of Connecticut bookstore launched a buyback web site that informs students how many books the store will be buying and at what price. Combined with other programs, UConn Co-op estimates that it saves its students about $3.6 million annually on textbooks. Some stores, such as that at California State University-Fullerton, have guaranteed buyback programs to increase used book stock and put a little extra cash in student pockets.
2. Offering price matching. If you grew up in the New York area, then you might remember a pitchman for Crazy Eddie electronics, who claimed that his prices can’t be beat–because they were insane. Seems like some college stores are taking a page from Crazy Eddie’s play book and offering price matching programs. Some schools that promote this policy include SUNY Plattsburgh, The University of Oklahoma and The Borough of Manhattan Community College. (Too bad my alma mater, NYU, doesn’t seem to be in on this trend.)
3. Using creative concepts to attract shoppers. You know that old adage, “If you can’t beat ‘em, join ‘em?” Well it seems that this has caught on with bookstores that want student business no matter what. Why else would the University of Illinois-Champaign store help match used book sellers with buyers, or the University of Arkansas college store discount books the day before classes begin–saving students some $500,000 over the past two years?
4. Offering textbook rentals. Typically, college stores rent books to students for between one-third to half the cost of a new textbook. Nearly ever college bookstore website I visited when writing this piece had a textbook rental program promoted on the store’s home page.
Bottom line: if your kids is going to do his/her book shopping at the on-campus store, I would suggest telling your child to ask the question, “What can you do for me?” when it comes to getting discounts or deals on purchases.
Tell me what college bookstores you shop in or know about are doing to help save students money.
READ LEAH ON HOME GOES STRONG
I used to work at the campus bookstore. I got I think a 20% discount off my books.
I’ve also taught classes, and always tried to get the cheapest book possible for the kids. I email them before the semester starts to tell them it’s OK to buy the old edition online. It’s just so expensive.
Oh, one more thing. Since I worked in the college bookstore, I knew what was being bought back and for about how much. At the end of the semester, I found a book with CD still in its wrapping just sitting on the ground next to one of the overstuffed dumpsters. I sold it back to the bookstore for $20.
I can’t believe someone dumped a perfectly good book like that and didn’t try to sell it back. I ALWAYS sold back my books to get extra cash.
Leah, I couldn’t either. Then again, I was shocked at what some people were throwing out period.