![Quick Context…. OSU Bookstore: ,[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Recommended
More Related Content
Similar to Icba 2011 Dynamic Pricing Panel (2)
Similar to Icba 2011 Dynamic Pricing Panel (2) (20)
Recently uploaded
Recently uploaded (19)
Icba 2011 Dynamic Pricing Panel (2)
- 1. ICBA 2011 Dynamic Pricing Panel James Howard, Academic Materials Manager
- 3. Bookstore has non-profit status - 501(c)(3)
- 4. Textbook operation is “cost-recovery”
- 5. Discounts at point of purchase 10%
- 6. Realizing a 17% margin after discount
- 7. Conduct own end of term buyback – no contract buy
- 8. Retain up to 60% of wholesale buyback purchases for future term use
- 9. Inventory control system allows for decoupling New and Used pricing
- 13. Effort focused solely on Used pricing
- 14. Costs/Margins can be controlled
- 15. Maintain a minimum 30% margin
- 16. Average around 200 titles a term
- 17. About 10-15% of total titles per term
- 20. Age of edition
- 21. Amount of previous term Used sales
- 22. Quantity projected at lowered buyback price
- 23. Wholesaler previous invoice totals
- 27. Altering shelf prices prior to opening sales floor
- 28. Evaluating altered price against current invoices
- 31. Shelf cards
- 38. Buyback component will probably continue
Editor's Notes
- Time and labor to execute dynamic pricing needs to be manageable, not overly onerous
- Based on occasional reviews (survey course titles, large adoptions)40-50 of titles chosen Bookstore is as good or slightly better than marketplaces on 50% of titles – Within $5-$20 on 30% - beaten by more than $20 on rest
- Through wholesale and buyback purchasesTightening margins on used invoiceBuyback price based on used price Buyback price 10-20% less than half newBuyback driver to reduce prices
- Title by title approach – since only targeting certain titles and, early on, there weren’t any macro-programs available or comfortable with
- Just a snapshot of the 100+ titles thus far slated for Spring term ‘11 starting in March