eBook Evolution (Revolution): Where Do Campus Stores Fit In? CAMEX College Bookstore Presentation
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eBook Evolution (Revolution): Where Do Campus Stores Fit In? CAMEX College Bookstore Presentation

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Much of the book industry is hard at work developing and implementing digital strategies. But when will we experience the tipping point? How will this impact campus stores? And what do you do in the ...

Much of the book industry is hard at work developing and implementing digital strategies. But when will we experience the tipping point? How will this impact campus stores? And what do you do in the interim to prepare. In this presentation, Thought Leader speaker Kelly Gallagher, Vice President of Publishing Services at Bowker, provides his unique perspective on this industry “game changing” event. Kelly shares with you recently published data from the Book Industry Study Group (BISG) that examines both students and consumer book/e-Book behaviors and his insight on where e-books are headed. This presentation provides suggestions on what you can do now to prepare, Kelly Gallagher’s thoughts on potential roles for campus stores, and how you might make money along the way. This was presented on 2/26/11 at CAMEX 2011 for college bookstores.

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eBook Evolution (Revolution): Where Do Campus Stores Fit In? CAMEX College Bookstore Presentation eBook Evolution (Revolution): Where Do Campus Stores Fit In? CAMEX College Bookstore Presentation Presentation Transcript

  • The eBook R/Evolution:
    Where Do Campus Stores Fit In?
    Presenter: Kelly Gallagher, RR Bowker
  • the times they are a chang’n
  • rate of…
    motivation for…
    direction of…
    CHANGE
    …in strategy
  • Who’s problems are we looking to solve?
  • Publisher?
    Piracy
    Used Books
    Open-Source
    Rentals
    COGS
    e-Book Transition
  • Administration?
    Funding
    Enrollment
    Faculty
    Facilities
    Tuition
  • Bookstore?
    Administration
    e-tail
    Off-Campus
    Rentals
    Faculty
    e-Books
  • Student?
    Expertise
    Convenience
    Relevance
    Requirements
    Cost
  • So looking ahead…
    …how do we set strategies in times of uncertainty?
  • Know the market trends…
    Know the end user…
    Know your value proposition!
  • Know the market trends…
  • 19
    Overview of Textbook Market for AY 2010
  • Pop Quiz!!
  • True or False?
    For the first time on record, the textbook industry shrank ($$$) last year?
  • 22
    The College Textbook market continues to grow in spite of dire predictions
  • Multiple Choice
    The average price of a new textbook in AY2010 was a) $74b) $84c) $94d) $104
  • 24
    Students are Right: Textbook Prices Rising
  • Multiple Choice
    The used textbook market isa) >60%b) >50%c) >40%d) >30%of the total (units) market?
  • 26
    Two Thirds of Units Sold are New Units
  • 27
    Over 70% of Textbook Dollars Sold are New Units
  • Career Texts are Keepers - Top 10 Disciplines with Lowest Used Book Rates
    28
  • Liberal Use of Used Texts -Top 10 Disciplines with Highest Used Book Rates
    29
  • True or False?
    Math, English, and Science comprise the top 3 selling ($$$) disciplines?
  • 31
    ‘The Basics’ Top 10 Disciplines in Total Dollar Sales (millions)
  • Jobs, Jobs, Jobs – Top 10 Growing Disciplines
    32
  • Liberal Arts Not Supported -Top 10 Declining Disciplines
    33
  • Multiple Choice
    Psychology and ________a) Spanishb) Chemistryc) Biologyd) None of the aboveare the top selling ($$$) courses?
  • 35
    101 - Psych & Spanish Top 10 Courses in Total Dollar Sales (millions)
  • Speech & Biology TextsTop 10 Textbooks (ISBN’s) in Total Dollar Sales (millions)
    36
  • A Tale of Two Revenues – The “Myers” Intro to Psych Franchise
    37
  • Know the end-user
  • 39
    Student Attitudes Study
    The semi-annual survey focuses on college student perceptions related to educational content in the higher education market.
    Key areas of focus were to determine:
    Rate of change and preference for digital texts
    Value of content and learning platforms
    Illicit behaviors with content
    It is powered by Bowker's PubTrack Consumer Panel, the publishing industry's exclusive resource for understanding buying behavior.
    The online survey polled 1505 college students drawn from a nationally representative panel.
  • Multiple Choice
    By the end of 2010 e-Books represented over ___%a) 5%b) 10%c) 20%d) 25%of the total book market.
  • Overall eBook Trends
  • Do readers really prefer digital?
    Trade Publishing – After reading ‘e’
    17% say that they prefer print
    And 17% say that they were not satisfied with the digital display
    66% report they are generally satisfied with digital books
    42
  • Do readers really prefer print?
    Other publishing segments have asked the same question…
    Newspapers
    • 61% of people now read news everyday on the Internet vs. 50% who read newspapers (Pew Project)
    Magazines
    • 3 years ago only 1.5% of subscribers selected digital replica consumer magazines
    • Now 38% of iPad owners are reading digital magazines (Changewave Research)
    43
  • What About E-Textbooks,
    44
  • Wide Arayof ‘e’Top 10 Disciplines with Highest e-Textbook Rates
    45
  • Multiple Choice
    When given a choice ___%a) 55%b) 65%c) 75%d) 85%of students would choose print over text.
  • 47
    Key Finding-Print vs. e-Textbook
    75% of students preferred traditional printed textbooks over digital replica e-textbooks.
    Like the look and feel of print
    Potential for permanence of ownership
    Opportunity for resale
  • 48
    Students reported low satisfaction with e-Textbooks
    © 2011, the Book Industry Study Group
  • True or False?
    Kindle, iPad, & Nook have now surpassed PC’s as the primary eText reading devices?
  • Laptops remain the top device for reading eTextbooks
  • Multiple Choice
    Trade ‘e’ sales are expected to hit 25% by 2013. Most predict Higher Ed will reach that number ina) 2014b) 2015c) 2016d) 2017
  • Higher Education Barriers to Rapid Digital Growth
    • Most new devices lack the computing power and functionality required by students.
    • Most students are unlikely to purchase and carry multiple devices.
    • DRM
    • Tech-savvy does not = instant conversion
    • Digital Fatigue
    • Result: eTextbook and eResources sales are projected to be 25% of Higher Education Sales in 2016
  • So where does this leave us?
  • Compete on the value propositions you know you can win on… & choose no more the two!
    5 Core Retail Value Propositions
    Price
    Service
    Convenience
    Selection
    Relationship or Experience
  • Student & Bookstore Affinity – what values are you already winning on?
    Source B&N College
  • Keeping Perspective
  • Multiple Choice
    My Alma Mater is…a) The College of New Jerseyb) Yalec) Northern Arizona U.d) University of Houston
  • Kelly Gallagher
    VP Publishing Services
    Bowker
    Kelly.Gallagher@Bowker.com
    www.pubtrackonline.com
    60
    Thanks!