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The New Hybrid College
Bookstore Model
How Institutions are Winning Back Students and
Building for the Future
Author: JayeLynn Bergers, Former Director of Procurement & Retail Services, Davenport University
Edited by: Jonathan Shar, Chief Marketing Officer and Kirk Bodick, Vice President of Sales, Akademos Inc.
July 2015
White Paper
2
1. The leader in online bookstore + marketplace services for educational
institutions.
2. An olive grove outside of ancient Athens named for a Greek war hero.
It is the site where Plato founded his famous school of philosophy and is
the source of the English word “academy.” Akademos is often thought of
as the birthplace of Western philosophy, scientific reason and some of
our most cherished ideas about justice and the free exchange of ideas.
3
Introduction:
Act Now to Win Back Your Students and Increase Sales
For many institutions, the college bookstore is an integral part of the campus experience for
students, faculty, administrators, parents and alumni. Maintaining a vibrant and thriving college
retail shop is important for almost all campus stakeholders, but has become increasingly
challenging as competition from online, third-party providers has intensified and students are
leaving the school-sanctioned bookstore in search of better pricing on their textbooks and
course materials.
Campus bookstore textbook sales are now declining at a rapid rate and the trends suggest that
these declines will continue to accelerate into the future. According to an exclusive survey of
college CFOs regarding the future of college bookstore and textbook services:
 91% of respondents indicated “textbook sales have been flat or down” over the past
three years.
 In just two years, there has been a 36% increase in CFOs reporting “declines of more
than 10%.”
Source: CFO survey on Textbook Delivery and Bookstore Services. Akademos, 2015.
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Not only are students shopping outside of the school-sanctioned bookstore, but recent studies
have also shown that many students are opting not to buy textbooks for at least one of their
courses due to these high prices. As a result, students are less prepared for class and their
academic performance is negatively impacted. Left unchecked, these factors may undermine
the fundamental educational mission of many colleges and universities. This problem is
especially worrisome for public universities and community colleges, where students often
struggle with the overall cost of education, even with the support of federal aid.
The good news for students and administrators alike is that there are solutions, services and
new models available that provide campus shops the ability to offer lower cost textbook
options and begin to once again thrive—even as higher education transitions to new learning
models and digital course materials. In this white paper we will highlight one such solution and
provide a roadmap for how your campus store can grow into a high value, high growth service
for students while prospering in the years to come.
Help is On the Way:
A New Strategic Partnership Model with Immediate Returns
One solution that has had immediate benefits for many colleges and universities across the
country is forming a strategic partnership with an eCommerce bookstore provider to sell the
vast majority of textbooks and course materials to your students online, while transitioning the
campus store to offer higher margin, higher growth items. Based upon examples and case
studies of colleges that have successfully implemented this hybrid bookstore model, we have
compiled key best practices that can be used as a roadmap for other institutions interested in
exploring a similar transition.
In order to provide students with highly competitive textbook pricing and a wide variety of
buying options and formats, many colleges and universities are partnering with an online
textbook provider. The online provider should be a true partner to the institution and its
campus shop and offer a fully customized online storefront branded with the college or
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university’s marks and colors. The following criteria should also be considered when evaluating
a prospective online bookstore vendor:
 Highly competitive textbook prices that will save your students 30 to 40% versus what
they are paying on campus today
 Choice and significant inventory across new, used, rental and eBook options, with the
ability to provide timely delivery
 Mobile optimized platform to ensure that students can easily order from any device, at
anytime, anywhere
 Highly responsive customer service
 Student Information System (SIS) integration capabilities, to allow for students—once
signed-in—to see a highly personalized list of their specific courses for a term with all
required materials
 The ability to seamlessly integrate with financial aid, so that purchases can be charged
directly to financial aid
 State-of-the-art textbook adoption tools to guide faculty and academic administrators in
selecting high quality, low-cost materials
 Access to valuable student purchase data that can help improve student performance
To provide maximum value for students and drive foot traffic to the on-campus store, the
online provider partnership should also allow for the following:
 Convenient on-campus textbook pick-up locations for students
 On-ground textbook buy-back programs
 Limited new book inventory available in the campus shop
This unique combination of personalization, convenience, value and support of the campus
shop—something that popular third-party online retailers can’t match—will drive significant
gains in student satisfaction and bookstore usage. Once a college has moved the lower margin,
high-touch textbook services to an online vendor, the campus store can begin the transition to
a high value, higher margin retail center for students.
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In the two semesters since we made the move to migrate all textbook sales online, our textbook
sell-through ratio improved from just 46 percent in the 2013–2014 year to
66 percent in the 2014–2015 year. More importantly to our mission of serving students of great
promise and limited economic resources, our average overall (new and used) cost of textbooks to
students was 43 percent lower than the last available NACS reported average (used textbooks
only). The new digital bookstore model also offers better support and consumer protection for
our students in comparison to buying online on their own with unknown and varied quality. We
are confident the decision to embrace the emerging trends offered through technology was the
correct one.
Campus store management and staff move from the role of “textbook provider” to “course
materials advisor,” with the right online partner, the shop should have much better data on
textbook usage and student success and will play a vital role within their institution, impacting
faculty material selection and student performance.
Who Can Make This Change—and How?
This new model can work across many different types of colleges (urban, rural, heavy
commuter population, small or large apparel sales, etc.), but there are some different
considerations when making the transition. In the next sections we will outline the key steps for
establishing this new-look campus store, offer tips for success, suggestions for potential new
sources of high margin sales and highlight key benefits, including:
 Creating a vision for your new store
 Staffing
 New potential services
 Products that generate revenue
Derrick Singleton is Vice President of Operations & Sustainability at
Berea College. Among other areas, his responsibilities include
oversight of campus auxiliary businesses and services. He is a chemical
engineer with an MBA and earned degrees from Eastern Kentucky
University, Sullivan University and the University of Kentucky.
Source: NACAS, From Brick and Mortar to Digital
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 External and internal customers
 Technology
 In-store textbooks and an online partner
 Managing the transition
 Community
Creating a vision for your new store
What should the college store of 2015–2020 look like to best support today’s students?
Research from the National Association of College Stores (NACS) promotes the concept that the
store of 2015 is less like a bookstore and more of a multiservice retail center. Many stores are
realizing the limited margins on textbooks and the competition with online retailers is making
the business model of selling textbooks in person obsolete. To stay relevant and profitable,
stores are adding services and incorporating new products to get students to shop more often.
To help build this vision, enlist your marketing and communications departments to get input
from students, staff and other key stakeholders on campus. Conduct surveys and focus groups
with student organizations/clubs to gain valuable insights or use a consulting firm to conduct
deeper analysis.
In addition, study your current sales performance and answer the following questions:
 What percentages of your enrolled students are utilizing the bookstore?
 What is the benchmark for similar schools?
 How do your textbook costs (new, used, rental) compare to online vendors with whom
you compete for your student purchases?
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The first step in transitioning to a new store is building a vision.
.
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Consider seeking input from the following resources; you will gain valuable insights from
members of these groups as well as connect with vendors who provide products and services
specializing in the collegiate market:
 Independent College Bookstore Association (ICBA, www.icbainc.com)
 National Association of College Stores (NACS, www.nacs.org)
 National Association of College Auxiliary Services (NACAS, www.nacas.org)
 Your state bookstore association
 Your local area chamber of commerce and/or retailers association
In addition, your peers at other intuitions across the country facing similar situations will most
likely share their experience on what worked well for them. Online bookstore vendors should
be able to provide references for other schools that have made this transition. Use their
successful efforts to build your offering.
The data and information gathered from this research; discussions with other institutions; and
input from staff, students and your community will allow you to create a vision for your store
that can best balance your revenue goals and satisfy your customers—both today and into the
future.
Staffing
Through NACS you can find data to benchmark headcount versus other stores reported by sales
volume, space, student enrollment, position descriptions and salary ranges. This will help you
develop your labor budget and plan.
A key component to the success of your store is the store manager. Look for a manager with an
entrepreneurial spirit, someone who will welcome the opportunity to add new products and
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Once there is a clear vision, the next step is to evaluate the staffing plan to
determine if changes need to be made to meet future goals.
.
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services and be able to connect with other departments on campus. While nice to have, prior
college or bookstore experience is not necessary, especially since complex textbook adoption
and fulfillment will be handled outside of the physical store. Look for past retail management
experience with an enthusiastic, personable attitude. Your store manager should connect with
campus resources for opportunities to utilize student workers or save labor costs by creating
internships in marketing, retailing, graphic design, merchandising and management.
Evaluate what other staff is needed for the new services you may offer and what staff you may
want to reassign (i.e. textbook management). Efficiencies can be developed by cross training
staff to facilitate multiple services in one location. The same staff person can serve coffee and
sell T-shirts, but keep in mind all of the back-office duties—like receiving product,
merchandising items, purchasing stock and inventory management—in addition to serving
customers.
Your labor costs will depend on the size of your store, the number of services you are offering
and the amount of sales. Budget your labor expense at 10 to 15% of your retail sales.
New potential services
There are a number of potential services that could be added to your campus store that will
facilitate your transition to a high value, high growth student service. Incorporate existing
services that can be brought into the space to create greater efficiencies: A coffee bar,
convenience food items, cyber café with computer/charging stations, tech assistance and even
banking services are all options that will generate revenue and traffic. Students may come into
a bookstore for textbooks once at the beginning of a semester, but a coffee bar may have them
visiting your store every day!
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Next, evaluate new services to add value and drive traffic to the
bookstore.
.
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Partner with your online bookstore provider to offer students a “ship to campus” pick-up
service location (or multiple locations) for their textbook orders. This will drive traffic into the
store and provide a secure location for students to get their shipments in case they do not want
their books sent home, to a dorm room or an off-campus apartment complex. Students will
appreciate the security and convenience as well as the opportunity to shop for other course
supplies. If this service cannot be done out of the store, check with your mail services to
determine if they could assist in this capacity. Provide promotional information or coupons at
pick-up to direct students to the store.
Consider casual spaces for students to lounge or meet, something typically lacking in a campus
bookstore.
A nook called the Paper Jam attracts foot traffic to the River Store at Indian River State College.
Technology products, repair service and consulting may be welcome not only by your students
but your surrounding community (see data on student tech product expenditures in the
following section).
Recycling centers are popular and could include electronics and books in addition to paper
goods and cans/bottles. Student exchange programs for furniture, kitchen supplies and resident
hall items are growing in popularity. These initiatives will generate revenue to offset costs and
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create goodwill with environmentally conscious student populations as well as generate
incremental store traffic.
In addition to adding revenue services to your on-campus store, integrating promotional links
onto your online bookstore website can build revenue with each click. Many retailers such as
Apple, Dell, Journey Ed, Jostens and Bed, Bath & Beyond offer referral programs that can drive
incremental revenue.
Products that generate revenue
If you are eliminating most of the textbooks from your store, the space gained will provide a
great opportunity to offer products with higher margins that generate more revenue.
While new textbook sales may net between four and six cents on every dollar, what you really
make money on are the hoodies, T-shirts and computer accessories.
—Charles Schmidt, NACS’ Director of Public Relations, commenting on the silver lining
in growing the retail side of the campus store business.
According to the College Store Industry Financial Report 2013 by the National Association of
College Stores, the margin on textbooks was 21%, with an average expenditure per student of
$370. Compare this to the 45 to 50% margin on supplies and you only need an expenditure of
$164 per student to breakeven. (Expenditure on supplies in 2013 was $193.) Moving more sales
to these higher margin items can have a significant impact on the campus shop’s bottom line.
Considering this and the opportunity for even larger margins on apparel and food, it makes
financial sense to optimize the physical space in the store to add more supplies, apparel and
auxiliary services.
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Consider products that will build your brand and generate revenue.
.
12
Based upon the latest survey data on student spending from Student Watch: Attitudes &
Behaviors toward Course Materials, students spent an average of $313 on their required course
materials in Fall Term 2014. In the same period, students spent an average of $358 on
purchases for “necessary but not required” technology, such as laptops, USB drives, etc. 1 If you
are not doing so already, look to incorporate electronics, computer, accessories, tablets and
other tech supplies. This is where students are spending!
Build loyalty and connect with your customers by offering products that fit in with the lifestyle
of your campus. Items that are focused on athletics, Greek life and specific majors will drive
frequent traffic. These groups will have an interest in products and apparel that net you twice
the margins and can now be offered in the space previously used for textbooks.
In addition, you can build your school and store brand by offering unique products that reflect
the personality of your students and your campus. Seek local providers; offer products specific
to your area or state. Using local vendors supports your community and fosters goodwill. Local
vendors will allow you to buy in smaller quantities than large big box stores, making the
offering in your store unique.
Your online bookstore builds the opportunity to bring students in house since the goodwill generated by
saving money online increases the likelihood of the student utilizing a campus shop. One recent survey of
2,000 consumers showed that 83 percent were willing to spend more on a product or service if they felt a
‘personal connection to the company.’ 2
What better personal connection than school spirit or alumni
supporting their alma mater?
Sustainable clothing is a new and profitable product line. At Smith College, Bookstore Manager
Dixie Holland responded to student and faculty desires for more sustainable and fair trade
products, and she has seen a lot of interest in that new section of the store. In choosing
1 The National Association of College Stores. Higher Education Retail Market Facts & Figures, 2014.
2
Roland, Jennifer. College Stores Look to New Products to Increase Revenue. Edcetera Newsletter. 2013, May 6.
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vendors, she went with locally owned businesses to lower transportation costs and provide
even more of a sustainable focus in purchasing.
External and internal customers
Your campus shop should serve all of your internal and external customers. What outside
vendors are being used for any university logo products? Use your campus shop to
provide/source products for any department using branded items. This allows your store
operations to take advantage of quantity discounts and saves internal departments budget
dollars.
Can your campus store be used to supply technology products or office supplies to internal
departments? Your store can buy in bulk and offer savings and more efficient delivery.
Departments can charge items to internal accounts, saving on bank fees and credit-card
procurement expense.
The campus store can support other areas of the university just by being the place with the
cash register. It is the best location to accept payment and manage sales tax. Your campus store
can sell tickets and accept payment for fees and direct funds back to the respective
departments. Engage campus partners with sales at offsite locations and athletic and special
events that may be underserved. Your new store should be mobile—not just contained within
the same four walls on campus.
Technology
5
Consider all internal and external customers—what are some ways your
bookstore can adapt to support other areas of the institution?
.
6
Adopt a point of sale system.
.
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Both systems are cloud based, use laptops or tablets, offer customer relationship
management software and have a monthly service/support fee.
Your store needs a point of sale system (POS) for several reasons. A good point of sale system
supports inventory management and financial reporting as well as credit card and financial aid
transaction processing. Good inventory management keeps stock moving, avoids backorders
without overstock and tying up dollars. These systems do not need to be expensive or require a
large capital investment. Many systems are cloud based, eliminating the need for servers and
can operate on PCs, laptops or tablets with a relatively low monthly support fee or even in
some cases free.
A point of sale system should also include an eCommerce application for online sales of
apparel, gifts and supplies. Online orders can be fulfilled from store inventory and utilize store
staff for processing. Create cohesion by linking your campus store web site to your online
textbook store and vice versa.
A POS system can also help with customer relationship management. Email campaigns, loyalty
programs and promotional pricing can all be managed by a single system. Communication with
students about textbook options, new products and promotions is imperative. Your point of
sales system should supply the analytics and tools to build a customer relationship
management program.
Ensure that your point of sale system offers a mobile sales solution using Wi-Fi or cellular,
allowing you to take your opportunities for revenue and service to all parts of your campus.
If you will be working with
textbooks…
Consider Sidewalk Pro POS System.
If you will not be offering
textbooks…
Consider the POS system offered
by Light Speed.
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In-store textbooks and an online partner
Can you offer textbooks both in-store and partner with an online textbook provider? Yes, you
can, but there are many considerations to this approach and it will require significant
coordination and cooperation.
Many times the perceived notion that some textbooks must remain in the campus store to best
serve the last minute needs of students is not really a necessity at all. Instead, ask your online
bookstore provider to ship a small stock of course materials for the most highly enrolled
courses to your campus shop for a term or two until students realize they can receive
everything on-time from the online store. This allows students to purchase without the burden
of maintaining dual inventories requiring additional tracking and financial aid purchase
reconciliation. You should explore this option with your online bookstore provider and seek
creative solutions to address this concern prior to making the commitment to sell any textbooks
in the campus shop.
If your campus shop does not prefer this option, another best practice to manage the transition
is to use your store manager (or textbook buyer/manager) to serve as the point of contact for
your online store. This creates a single textbook contact for all university departments and a
consistent source of text information. This can work across the institution to manage adoptions,
special pricing and sourcing.
You will need to consider the landscape of your campus and the type of students you have. Do
you have a large residential population that will benefit from an on-campus store, or commuter
students that will prefer a robust online program?
7
Learn if a blended model (textbooks sold in both the physical store
and online) is right for your institution.
.
16
If you continue to offer books in store, you put your store in a position to compete with your
online source: a difficult challenge. Your best approach may be to transition the books out of
the store and make a gradual move to all books offered exclusively online. A computer in the
store dedicated for online ordering, with the assistance of store staff, will make the most
hesitant student more comfortable.
Managing the transition
If you are terminating an agreement with a third-party store management company, what are
your obligations? Are you required to purchase existing store inventory? If you are in the
position to absorb inventory, look to negotiate costs. Most agreements also allow schools to
terminate their contract early with written notice if your existing provider isn’t providing the
textbook pricing or services you need.
Request data on the current inventory and conduct an analysis before making any buying
decisions. The current provider should be able to report the total cost of inventory and cost of
goods by item and category. If possible, evaluate the inventory by category or specific items and
purchase only select products. Evaluate products based on the cost, the season, the “shelf life”
and how long it has been in stock. Depending upon the product, anything that has not sold
within six to 12 months is no longer worth the original cost and you may not want to keep.
Products that have been in the store for over 12 to 15 months are dead inventory, if they
cannot be sold, consider donating them to charity for the tax credit. Negotiate price for any
inventory you retain.
If your agreement requires you purchase the entire existing inventory, work with the current
store management on promotions and clearance sales to move out as much inventory as
8
Assess how to handle inventory at your physical store once the decision to
transition to an online store has been made.
.
17
possible. You want to give the launch of a new store a fresh look and you’ll need to make room
for new products and services.
In regards to textbook inventory, any new books may be eligible to return to the publishers.
Your online textbook provider may purchase your stock or you may list in their marketplace to
sell direct to students (if marketplace is available). You will find many textbook wholesalers
willing to work with you on any un-returnable new books and any used book stock. Use several
wholesalers to get the best competitive price for your stock. Any remaining inventory that
wholesalers will not purchase may be listed on marketplace sites or box them up and donate
them as well. A company called One Planet Books will pay $10 per box of old books.
Community
There are many attributes an on-campus store provides that an online application cannot. The
service experience is different from online to in store. Some students need additional assistance
and have more questions, so they really enjoy and benefit from working with store staff. The
physical store offers this personal support.
The on-campus store is also a place of community for students, staff and alumni. The bookstore
builds campus spirit by participating in events from orientation to homecoming to graduation. It
provides university logo apparel and accessories; not just in store but may reach constituents at
athletic and special events. The campus store also serves your internal customers with
providing staff immediate access for supplies, gifts and apparel.
9
Establish a balance between the need for revenue and the needs
of your students and staff.
.
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Universities must balance the need for revenue with the needs of the students and staff.
Campus stores are able to serve in many capacities; some benefits cannot be counted with a
dollar sign.
Conclusion
Over the past three decades college textbook prices have grown 812%, increasing three times
faster than the Consumer Price Index. Administrators, faculty, students and parents are
increasingly concerned about the escalating cost of textbooks. Colleges are now searching for
new solutions to lower costs and support their core mission of educating students.
Recent studies have shown that many students are opting not to buy any or all textbooks for at
least one of their courses due to these high prices, leading to students being less prepared for
class and negatively impacting their academic performance.
Maintaining a vibrant and thriving college retail shop is important for many institutions across
the country, but has become increasingly challenging as competition from online, third-party
providers has intensified and students are leaving the school-sanctioned bookstore in search of
better pricing on their textbooks and course materials or worse, not buying their required
materials at all.
Establishing a strategic partnership with an online bookstore provider is a great way to reinvent
your campus store and win back students. Create a new student-focused retail center that will
address the needs of your campus, offer new products and services to recapture revenue and
increase student satisfaction. It does not require large capital investments or years to complete.
It just takes some out-of-the-box thinking, analyzing your assets and listening to your students
and staff.
The good news for students, faculty, administrators and alumni is that there are case studies
and examples of solutions, services and new models that are working and provide campus
19
shops the ability to offer lower cost textbook options and begin to once again thrive—even as
higher education transitions to digital course materials and new learning models.
Not only do these new partnerships provide a sustainable model for institutions for the future,
but also allow colleges and universities to focus on their number-one mission of educating
students.
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About the Author
JayeLynn Bergers joined Davenport University in 2004 as the
Merchandise Manager, transitioning to Director of Merchandising
and Bookstore Operations in 2005. She was responsible for three
physical stores and online book sales for eight other locations
throughout the state of Michigan and Indiana. She moved to Director
of Procurement and Retail Services in November 2013.
About the Davenport University Bookstore
Davenport was one of many institutions to integrate with the Akademos
eCommerce platform, TextbookX, to create a customized shopping platform for
students. The bookstore delivered a seamless online shopping experience by
integrating registration and financial aid data from DU’s Student Information
System (Banner) into the bookstore platform.
Serving 12,000 students across 12 campuses in Michigan and online, DU’s Hybrid
“blended model” bookstore approach includes one physical store location with a
full-service online bookstore.
To date, DU students have saved $1.9 million off the list price of textbooks and course
materials. In a student satisfaction survey, 95% of students agreed that the new online
bookstore is “the same or better” than DU’s previous solution. Eighty percent of orders have
been placed using the integrated financial aid functionality.
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About the Editors
Jonathan Shar was appointed Chief Marketing Officer of Akademos Inc. in
December 2014. Prior to joining Akademos, Jonathan served as General
Manager of Barnes & Noble’s NOOK digital content business, where he was
responsible for the newsstand, video and application businesses. Prior to
NOOK, Shar was the SVP and General Manager of CNNMoney, the web and
mobile financial information and business news services site that was a
joint venture between Time Inc. and CNN. His early career was within the
consumer marketing division of Time Inc., where he rose to the position of
Vice President of Consumer Marketing for Sports
Illustrated. Jonathan received his MBA from the University of Michigan and
his BA from Tufts University.
Kirk Bodick was appointed Vice President of Sales of Akademos, Inc. on
March 26, 2012. Previously, Kirk was the Vice President of Institutional
Sales – Eastern Region at Pearson Learning Solutions, where he was
responsible for building C-level relationships at the state, system and
institutional level, as well as leveraging Pearson’s vast technology, content
and services for selling custom learning solutions in the higher education
industry. Prior to his position, Bodick served in multiple management
positions for PLATO Learning, Inc., including Regional Vice President for
North American Post-Secondary Sales. Kirk holds B.S. and M.S. degrees
from the University of Michigan.
22
About Akademos
Akademos is a leader in online bookstore and marketplace
services for educational institutions. We offer virtual
bookstore services, eLearning solutions and an innovative
textbook marketplace that rivals third-party marketplaces.
Our comprehensive supply-chain solution and commitment to responsive personal service help
us provide affordable textbooks and digital learning tools for schools and students. Students can
choose from new, used, rental and eBook options while schools can reduce costs and increase
operating efficiency. Faculty can search, discover and adopt new texts using the Akademos
Textbook Adoption Tool.
Akademos has been involved in improving textbook affordability for over a decade. We
started with the idea that students should have a more affordable option for buying course
materials—and the web offered a perfect vehicle. Soon enough, schools began to partner with
us in order to leverage our educational eCommerce platform. And the fact that we integrate
with already-existing course registration, financial aid, SISs and other technology systems
makes the transition an easy decision for most schools. Our prices rival third-party sites, and,
unlike on the most popular of those sites, students are able to apply financial aid dollars to
their textbook purchases. So students pay less for high-quality texts, and financial aid dollars
are applied tothe most affordable books instead of the mostexpensive.
Akademos delivers the right course materials, at affordable prices, on time. Learn more
about Akademos' faculty textbook comparison portal at www.adoption.akademos.com, its
direct-to-students eCommerce platform at www.textbookx.com and its offerings to partner
schools atwww.akademos.com.
23
Index of Additional Resources
Click the resource titles below or visit Akademos.com to request your copy. All materials are
available free of charge. For more news, information and resources, visit our blog:
blog.akademos.com.
White Papers
2015 College CFO Survey on Textbook Delivery and Bookstore Services
Read the executive summary from the 2015 survey of college CFOs regarding the future of textbook
delivery and bookstore services.
2015 College President, Provost and Chief Academic Officer Survey on Textbook Delivery and
Bookstore Services
Read the executive summary from the most comprehensive survey of college Presidents, Provosts and
CAOs regarding textbook affordability.
Best Practices for Reducing Textbook Costs
This white paper explores the recent experience of two institutions that have successfully made the
transition to an online bookstore, highlighting best practices and key requirements.
The Changing Landscape of Bookstore Services for Colleges and Universities
Learn more about the changing landscape of textbook delivery and review tips on contracting bookstore
services.
Webinars
2015 College CFO Survey on Textbook Affordability and Bookstore Services
Three years ago, Akademos completed the first comprehensive survey of college CFOs regarding
the future of bookstore services and this informative webinar provided a first look at the results of
the follow-up study addressing critical issues and key trends.
How Your Bookstore Can Reduce Textbook Costs, Win Back Students and Recapture Sales
See how Davenport University implemented a new lower-cost textbook solution, saving students over
$1.9 million—and was able to increase bookstore utilization, optimize their physical store footprint
and dramatically increase student satisfaction.
How to Implement an Online Bookstore and Reduce Textbook Costs
This webinar takes a behind-the-scenes look at John Jay College of Criminal Justice (CUNY) and its
approach to implementing an integrated bookstore solution. Hear about the steps John Jay took and
how to make it work for your school. Plus, learn how Akademos’ SIS/ERP integration technology delivers
a personalized student shopping experience and other important institutional and student benefits, like
financial aid integration and reporting features.
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For more information about this survey or for questions about our online
bookstore services, contact us at www.akademos.com.
Akademos, Inc. | 200 Connecticut Ave., Norwalk, CT 06854
203.866.0190, ext 36

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White Paper - The New Hybrid College Bookstore Model (2) (1)

  • 1. The New Hybrid College Bookstore Model How Institutions are Winning Back Students and Building for the Future Author: JayeLynn Bergers, Former Director of Procurement & Retail Services, Davenport University Edited by: Jonathan Shar, Chief Marketing Officer and Kirk Bodick, Vice President of Sales, Akademos Inc. July 2015 White Paper
  • 2. 2 1. The leader in online bookstore + marketplace services for educational institutions. 2. An olive grove outside of ancient Athens named for a Greek war hero. It is the site where Plato founded his famous school of philosophy and is the source of the English word “academy.” Akademos is often thought of as the birthplace of Western philosophy, scientific reason and some of our most cherished ideas about justice and the free exchange of ideas.
  • 3. 3 Introduction: Act Now to Win Back Your Students and Increase Sales For many institutions, the college bookstore is an integral part of the campus experience for students, faculty, administrators, parents and alumni. Maintaining a vibrant and thriving college retail shop is important for almost all campus stakeholders, but has become increasingly challenging as competition from online, third-party providers has intensified and students are leaving the school-sanctioned bookstore in search of better pricing on their textbooks and course materials. Campus bookstore textbook sales are now declining at a rapid rate and the trends suggest that these declines will continue to accelerate into the future. According to an exclusive survey of college CFOs regarding the future of college bookstore and textbook services:  91% of respondents indicated “textbook sales have been flat or down” over the past three years.  In just two years, there has been a 36% increase in CFOs reporting “declines of more than 10%.” Source: CFO survey on Textbook Delivery and Bookstore Services. Akademos, 2015.
  • 4. 4 Not only are students shopping outside of the school-sanctioned bookstore, but recent studies have also shown that many students are opting not to buy textbooks for at least one of their courses due to these high prices. As a result, students are less prepared for class and their academic performance is negatively impacted. Left unchecked, these factors may undermine the fundamental educational mission of many colleges and universities. This problem is especially worrisome for public universities and community colleges, where students often struggle with the overall cost of education, even with the support of federal aid. The good news for students and administrators alike is that there are solutions, services and new models available that provide campus shops the ability to offer lower cost textbook options and begin to once again thrive—even as higher education transitions to new learning models and digital course materials. In this white paper we will highlight one such solution and provide a roadmap for how your campus store can grow into a high value, high growth service for students while prospering in the years to come. Help is On the Way: A New Strategic Partnership Model with Immediate Returns One solution that has had immediate benefits for many colleges and universities across the country is forming a strategic partnership with an eCommerce bookstore provider to sell the vast majority of textbooks and course materials to your students online, while transitioning the campus store to offer higher margin, higher growth items. Based upon examples and case studies of colleges that have successfully implemented this hybrid bookstore model, we have compiled key best practices that can be used as a roadmap for other institutions interested in exploring a similar transition. In order to provide students with highly competitive textbook pricing and a wide variety of buying options and formats, many colleges and universities are partnering with an online textbook provider. The online provider should be a true partner to the institution and its campus shop and offer a fully customized online storefront branded with the college or
  • 5. 5 university’s marks and colors. The following criteria should also be considered when evaluating a prospective online bookstore vendor:  Highly competitive textbook prices that will save your students 30 to 40% versus what they are paying on campus today  Choice and significant inventory across new, used, rental and eBook options, with the ability to provide timely delivery  Mobile optimized platform to ensure that students can easily order from any device, at anytime, anywhere  Highly responsive customer service  Student Information System (SIS) integration capabilities, to allow for students—once signed-in—to see a highly personalized list of their specific courses for a term with all required materials  The ability to seamlessly integrate with financial aid, so that purchases can be charged directly to financial aid  State-of-the-art textbook adoption tools to guide faculty and academic administrators in selecting high quality, low-cost materials  Access to valuable student purchase data that can help improve student performance To provide maximum value for students and drive foot traffic to the on-campus store, the online provider partnership should also allow for the following:  Convenient on-campus textbook pick-up locations for students  On-ground textbook buy-back programs  Limited new book inventory available in the campus shop This unique combination of personalization, convenience, value and support of the campus shop—something that popular third-party online retailers can’t match—will drive significant gains in student satisfaction and bookstore usage. Once a college has moved the lower margin, high-touch textbook services to an online vendor, the campus store can begin the transition to a high value, higher margin retail center for students.
  • 6. 6 In the two semesters since we made the move to migrate all textbook sales online, our textbook sell-through ratio improved from just 46 percent in the 2013–2014 year to 66 percent in the 2014–2015 year. More importantly to our mission of serving students of great promise and limited economic resources, our average overall (new and used) cost of textbooks to students was 43 percent lower than the last available NACS reported average (used textbooks only). The new digital bookstore model also offers better support and consumer protection for our students in comparison to buying online on their own with unknown and varied quality. We are confident the decision to embrace the emerging trends offered through technology was the correct one. Campus store management and staff move from the role of “textbook provider” to “course materials advisor,” with the right online partner, the shop should have much better data on textbook usage and student success and will play a vital role within their institution, impacting faculty material selection and student performance. Who Can Make This Change—and How? This new model can work across many different types of colleges (urban, rural, heavy commuter population, small or large apparel sales, etc.), but there are some different considerations when making the transition. In the next sections we will outline the key steps for establishing this new-look campus store, offer tips for success, suggestions for potential new sources of high margin sales and highlight key benefits, including:  Creating a vision for your new store  Staffing  New potential services  Products that generate revenue Derrick Singleton is Vice President of Operations & Sustainability at Berea College. Among other areas, his responsibilities include oversight of campus auxiliary businesses and services. He is a chemical engineer with an MBA and earned degrees from Eastern Kentucky University, Sullivan University and the University of Kentucky. Source: NACAS, From Brick and Mortar to Digital
  • 7. 7  External and internal customers  Technology  In-store textbooks and an online partner  Managing the transition  Community Creating a vision for your new store What should the college store of 2015–2020 look like to best support today’s students? Research from the National Association of College Stores (NACS) promotes the concept that the store of 2015 is less like a bookstore and more of a multiservice retail center. Many stores are realizing the limited margins on textbooks and the competition with online retailers is making the business model of selling textbooks in person obsolete. To stay relevant and profitable, stores are adding services and incorporating new products to get students to shop more often. To help build this vision, enlist your marketing and communications departments to get input from students, staff and other key stakeholders on campus. Conduct surveys and focus groups with student organizations/clubs to gain valuable insights or use a consulting firm to conduct deeper analysis. In addition, study your current sales performance and answer the following questions:  What percentages of your enrolled students are utilizing the bookstore?  What is the benchmark for similar schools?  How do your textbook costs (new, used, rental) compare to online vendors with whom you compete for your student purchases? 1 The first step in transitioning to a new store is building a vision. .
  • 8. 8 Consider seeking input from the following resources; you will gain valuable insights from members of these groups as well as connect with vendors who provide products and services specializing in the collegiate market:  Independent College Bookstore Association (ICBA, www.icbainc.com)  National Association of College Stores (NACS, www.nacs.org)  National Association of College Auxiliary Services (NACAS, www.nacas.org)  Your state bookstore association  Your local area chamber of commerce and/or retailers association In addition, your peers at other intuitions across the country facing similar situations will most likely share their experience on what worked well for them. Online bookstore vendors should be able to provide references for other schools that have made this transition. Use their successful efforts to build your offering. The data and information gathered from this research; discussions with other institutions; and input from staff, students and your community will allow you to create a vision for your store that can best balance your revenue goals and satisfy your customers—both today and into the future. Staffing Through NACS you can find data to benchmark headcount versus other stores reported by sales volume, space, student enrollment, position descriptions and salary ranges. This will help you develop your labor budget and plan. A key component to the success of your store is the store manager. Look for a manager with an entrepreneurial spirit, someone who will welcome the opportunity to add new products and 2 Once there is a clear vision, the next step is to evaluate the staffing plan to determine if changes need to be made to meet future goals. .
  • 9. 9 services and be able to connect with other departments on campus. While nice to have, prior college or bookstore experience is not necessary, especially since complex textbook adoption and fulfillment will be handled outside of the physical store. Look for past retail management experience with an enthusiastic, personable attitude. Your store manager should connect with campus resources for opportunities to utilize student workers or save labor costs by creating internships in marketing, retailing, graphic design, merchandising and management. Evaluate what other staff is needed for the new services you may offer and what staff you may want to reassign (i.e. textbook management). Efficiencies can be developed by cross training staff to facilitate multiple services in one location. The same staff person can serve coffee and sell T-shirts, but keep in mind all of the back-office duties—like receiving product, merchandising items, purchasing stock and inventory management—in addition to serving customers. Your labor costs will depend on the size of your store, the number of services you are offering and the amount of sales. Budget your labor expense at 10 to 15% of your retail sales. New potential services There are a number of potential services that could be added to your campus store that will facilitate your transition to a high value, high growth student service. Incorporate existing services that can be brought into the space to create greater efficiencies: A coffee bar, convenience food items, cyber café with computer/charging stations, tech assistance and even banking services are all options that will generate revenue and traffic. Students may come into a bookstore for textbooks once at the beginning of a semester, but a coffee bar may have them visiting your store every day! 3 Next, evaluate new services to add value and drive traffic to the bookstore. .
  • 10. 10 Partner with your online bookstore provider to offer students a “ship to campus” pick-up service location (or multiple locations) for their textbook orders. This will drive traffic into the store and provide a secure location for students to get their shipments in case they do not want their books sent home, to a dorm room or an off-campus apartment complex. Students will appreciate the security and convenience as well as the opportunity to shop for other course supplies. If this service cannot be done out of the store, check with your mail services to determine if they could assist in this capacity. Provide promotional information or coupons at pick-up to direct students to the store. Consider casual spaces for students to lounge or meet, something typically lacking in a campus bookstore. A nook called the Paper Jam attracts foot traffic to the River Store at Indian River State College. Technology products, repair service and consulting may be welcome not only by your students but your surrounding community (see data on student tech product expenditures in the following section). Recycling centers are popular and could include electronics and books in addition to paper goods and cans/bottles. Student exchange programs for furniture, kitchen supplies and resident hall items are growing in popularity. These initiatives will generate revenue to offset costs and
  • 11. 11 create goodwill with environmentally conscious student populations as well as generate incremental store traffic. In addition to adding revenue services to your on-campus store, integrating promotional links onto your online bookstore website can build revenue with each click. Many retailers such as Apple, Dell, Journey Ed, Jostens and Bed, Bath & Beyond offer referral programs that can drive incremental revenue. Products that generate revenue If you are eliminating most of the textbooks from your store, the space gained will provide a great opportunity to offer products with higher margins that generate more revenue. While new textbook sales may net between four and six cents on every dollar, what you really make money on are the hoodies, T-shirts and computer accessories. —Charles Schmidt, NACS’ Director of Public Relations, commenting on the silver lining in growing the retail side of the campus store business. According to the College Store Industry Financial Report 2013 by the National Association of College Stores, the margin on textbooks was 21%, with an average expenditure per student of $370. Compare this to the 45 to 50% margin on supplies and you only need an expenditure of $164 per student to breakeven. (Expenditure on supplies in 2013 was $193.) Moving more sales to these higher margin items can have a significant impact on the campus shop’s bottom line. Considering this and the opportunity for even larger margins on apparel and food, it makes financial sense to optimize the physical space in the store to add more supplies, apparel and auxiliary services. 4 Consider products that will build your brand and generate revenue. .
  • 12. 12 Based upon the latest survey data on student spending from Student Watch: Attitudes & Behaviors toward Course Materials, students spent an average of $313 on their required course materials in Fall Term 2014. In the same period, students spent an average of $358 on purchases for “necessary but not required” technology, such as laptops, USB drives, etc. 1 If you are not doing so already, look to incorporate electronics, computer, accessories, tablets and other tech supplies. This is where students are spending! Build loyalty and connect with your customers by offering products that fit in with the lifestyle of your campus. Items that are focused on athletics, Greek life and specific majors will drive frequent traffic. These groups will have an interest in products and apparel that net you twice the margins and can now be offered in the space previously used for textbooks. In addition, you can build your school and store brand by offering unique products that reflect the personality of your students and your campus. Seek local providers; offer products specific to your area or state. Using local vendors supports your community and fosters goodwill. Local vendors will allow you to buy in smaller quantities than large big box stores, making the offering in your store unique. Your online bookstore builds the opportunity to bring students in house since the goodwill generated by saving money online increases the likelihood of the student utilizing a campus shop. One recent survey of 2,000 consumers showed that 83 percent were willing to spend more on a product or service if they felt a ‘personal connection to the company.’ 2 What better personal connection than school spirit or alumni supporting their alma mater? Sustainable clothing is a new and profitable product line. At Smith College, Bookstore Manager Dixie Holland responded to student and faculty desires for more sustainable and fair trade products, and she has seen a lot of interest in that new section of the store. In choosing 1 The National Association of College Stores. Higher Education Retail Market Facts & Figures, 2014. 2 Roland, Jennifer. College Stores Look to New Products to Increase Revenue. Edcetera Newsletter. 2013, May 6.
  • 13. 13 vendors, she went with locally owned businesses to lower transportation costs and provide even more of a sustainable focus in purchasing. External and internal customers Your campus shop should serve all of your internal and external customers. What outside vendors are being used for any university logo products? Use your campus shop to provide/source products for any department using branded items. This allows your store operations to take advantage of quantity discounts and saves internal departments budget dollars. Can your campus store be used to supply technology products or office supplies to internal departments? Your store can buy in bulk and offer savings and more efficient delivery. Departments can charge items to internal accounts, saving on bank fees and credit-card procurement expense. The campus store can support other areas of the university just by being the place with the cash register. It is the best location to accept payment and manage sales tax. Your campus store can sell tickets and accept payment for fees and direct funds back to the respective departments. Engage campus partners with sales at offsite locations and athletic and special events that may be underserved. Your new store should be mobile—not just contained within the same four walls on campus. Technology 5 Consider all internal and external customers—what are some ways your bookstore can adapt to support other areas of the institution? . 6 Adopt a point of sale system. .
  • 14. 14 Both systems are cloud based, use laptops or tablets, offer customer relationship management software and have a monthly service/support fee. Your store needs a point of sale system (POS) for several reasons. A good point of sale system supports inventory management and financial reporting as well as credit card and financial aid transaction processing. Good inventory management keeps stock moving, avoids backorders without overstock and tying up dollars. These systems do not need to be expensive or require a large capital investment. Many systems are cloud based, eliminating the need for servers and can operate on PCs, laptops or tablets with a relatively low monthly support fee or even in some cases free. A point of sale system should also include an eCommerce application for online sales of apparel, gifts and supplies. Online orders can be fulfilled from store inventory and utilize store staff for processing. Create cohesion by linking your campus store web site to your online textbook store and vice versa. A POS system can also help with customer relationship management. Email campaigns, loyalty programs and promotional pricing can all be managed by a single system. Communication with students about textbook options, new products and promotions is imperative. Your point of sales system should supply the analytics and tools to build a customer relationship management program. Ensure that your point of sale system offers a mobile sales solution using Wi-Fi or cellular, allowing you to take your opportunities for revenue and service to all parts of your campus. If you will be working with textbooks… Consider Sidewalk Pro POS System. If you will not be offering textbooks… Consider the POS system offered by Light Speed.
  • 15. 15 In-store textbooks and an online partner Can you offer textbooks both in-store and partner with an online textbook provider? Yes, you can, but there are many considerations to this approach and it will require significant coordination and cooperation. Many times the perceived notion that some textbooks must remain in the campus store to best serve the last minute needs of students is not really a necessity at all. Instead, ask your online bookstore provider to ship a small stock of course materials for the most highly enrolled courses to your campus shop for a term or two until students realize they can receive everything on-time from the online store. This allows students to purchase without the burden of maintaining dual inventories requiring additional tracking and financial aid purchase reconciliation. You should explore this option with your online bookstore provider and seek creative solutions to address this concern prior to making the commitment to sell any textbooks in the campus shop. If your campus shop does not prefer this option, another best practice to manage the transition is to use your store manager (or textbook buyer/manager) to serve as the point of contact for your online store. This creates a single textbook contact for all university departments and a consistent source of text information. This can work across the institution to manage adoptions, special pricing and sourcing. You will need to consider the landscape of your campus and the type of students you have. Do you have a large residential population that will benefit from an on-campus store, or commuter students that will prefer a robust online program? 7 Learn if a blended model (textbooks sold in both the physical store and online) is right for your institution. .
  • 16. 16 If you continue to offer books in store, you put your store in a position to compete with your online source: a difficult challenge. Your best approach may be to transition the books out of the store and make a gradual move to all books offered exclusively online. A computer in the store dedicated for online ordering, with the assistance of store staff, will make the most hesitant student more comfortable. Managing the transition If you are terminating an agreement with a third-party store management company, what are your obligations? Are you required to purchase existing store inventory? If you are in the position to absorb inventory, look to negotiate costs. Most agreements also allow schools to terminate their contract early with written notice if your existing provider isn’t providing the textbook pricing or services you need. Request data on the current inventory and conduct an analysis before making any buying decisions. The current provider should be able to report the total cost of inventory and cost of goods by item and category. If possible, evaluate the inventory by category or specific items and purchase only select products. Evaluate products based on the cost, the season, the “shelf life” and how long it has been in stock. Depending upon the product, anything that has not sold within six to 12 months is no longer worth the original cost and you may not want to keep. Products that have been in the store for over 12 to 15 months are dead inventory, if they cannot be sold, consider donating them to charity for the tax credit. Negotiate price for any inventory you retain. If your agreement requires you purchase the entire existing inventory, work with the current store management on promotions and clearance sales to move out as much inventory as 8 Assess how to handle inventory at your physical store once the decision to transition to an online store has been made. .
  • 17. 17 possible. You want to give the launch of a new store a fresh look and you’ll need to make room for new products and services. In regards to textbook inventory, any new books may be eligible to return to the publishers. Your online textbook provider may purchase your stock or you may list in their marketplace to sell direct to students (if marketplace is available). You will find many textbook wholesalers willing to work with you on any un-returnable new books and any used book stock. Use several wholesalers to get the best competitive price for your stock. Any remaining inventory that wholesalers will not purchase may be listed on marketplace sites or box them up and donate them as well. A company called One Planet Books will pay $10 per box of old books. Community There are many attributes an on-campus store provides that an online application cannot. The service experience is different from online to in store. Some students need additional assistance and have more questions, so they really enjoy and benefit from working with store staff. The physical store offers this personal support. The on-campus store is also a place of community for students, staff and alumni. The bookstore builds campus spirit by participating in events from orientation to homecoming to graduation. It provides university logo apparel and accessories; not just in store but may reach constituents at athletic and special events. The campus store also serves your internal customers with providing staff immediate access for supplies, gifts and apparel. 9 Establish a balance between the need for revenue and the needs of your students and staff. .
  • 18. 18 Universities must balance the need for revenue with the needs of the students and staff. Campus stores are able to serve in many capacities; some benefits cannot be counted with a dollar sign. Conclusion Over the past three decades college textbook prices have grown 812%, increasing three times faster than the Consumer Price Index. Administrators, faculty, students and parents are increasingly concerned about the escalating cost of textbooks. Colleges are now searching for new solutions to lower costs and support their core mission of educating students. Recent studies have shown that many students are opting not to buy any or all textbooks for at least one of their courses due to these high prices, leading to students being less prepared for class and negatively impacting their academic performance. Maintaining a vibrant and thriving college retail shop is important for many institutions across the country, but has become increasingly challenging as competition from online, third-party providers has intensified and students are leaving the school-sanctioned bookstore in search of better pricing on their textbooks and course materials or worse, not buying their required materials at all. Establishing a strategic partnership with an online bookstore provider is a great way to reinvent your campus store and win back students. Create a new student-focused retail center that will address the needs of your campus, offer new products and services to recapture revenue and increase student satisfaction. It does not require large capital investments or years to complete. It just takes some out-of-the-box thinking, analyzing your assets and listening to your students and staff. The good news for students, faculty, administrators and alumni is that there are case studies and examples of solutions, services and new models that are working and provide campus
  • 19. 19 shops the ability to offer lower cost textbook options and begin to once again thrive—even as higher education transitions to digital course materials and new learning models. Not only do these new partnerships provide a sustainable model for institutions for the future, but also allow colleges and universities to focus on their number-one mission of educating students.
  • 20. 20 About the Author JayeLynn Bergers joined Davenport University in 2004 as the Merchandise Manager, transitioning to Director of Merchandising and Bookstore Operations in 2005. She was responsible for three physical stores and online book sales for eight other locations throughout the state of Michigan and Indiana. She moved to Director of Procurement and Retail Services in November 2013. About the Davenport University Bookstore Davenport was one of many institutions to integrate with the Akademos eCommerce platform, TextbookX, to create a customized shopping platform for students. The bookstore delivered a seamless online shopping experience by integrating registration and financial aid data from DU’s Student Information System (Banner) into the bookstore platform. Serving 12,000 students across 12 campuses in Michigan and online, DU’s Hybrid “blended model” bookstore approach includes one physical store location with a full-service online bookstore. To date, DU students have saved $1.9 million off the list price of textbooks and course materials. In a student satisfaction survey, 95% of students agreed that the new online bookstore is “the same or better” than DU’s previous solution. Eighty percent of orders have been placed using the integrated financial aid functionality.
  • 21. 21 About the Editors Jonathan Shar was appointed Chief Marketing Officer of Akademos Inc. in December 2014. Prior to joining Akademos, Jonathan served as General Manager of Barnes & Noble’s NOOK digital content business, where he was responsible for the newsstand, video and application businesses. Prior to NOOK, Shar was the SVP and General Manager of CNNMoney, the web and mobile financial information and business news services site that was a joint venture between Time Inc. and CNN. His early career was within the consumer marketing division of Time Inc., where he rose to the position of Vice President of Consumer Marketing for Sports Illustrated. Jonathan received his MBA from the University of Michigan and his BA from Tufts University. Kirk Bodick was appointed Vice President of Sales of Akademos, Inc. on March 26, 2012. Previously, Kirk was the Vice President of Institutional Sales – Eastern Region at Pearson Learning Solutions, where he was responsible for building C-level relationships at the state, system and institutional level, as well as leveraging Pearson’s vast technology, content and services for selling custom learning solutions in the higher education industry. Prior to his position, Bodick served in multiple management positions for PLATO Learning, Inc., including Regional Vice President for North American Post-Secondary Sales. Kirk holds B.S. and M.S. degrees from the University of Michigan.
  • 22. 22 About Akademos Akademos is a leader in online bookstore and marketplace services for educational institutions. We offer virtual bookstore services, eLearning solutions and an innovative textbook marketplace that rivals third-party marketplaces. Our comprehensive supply-chain solution and commitment to responsive personal service help us provide affordable textbooks and digital learning tools for schools and students. Students can choose from new, used, rental and eBook options while schools can reduce costs and increase operating efficiency. Faculty can search, discover and adopt new texts using the Akademos Textbook Adoption Tool. Akademos has been involved in improving textbook affordability for over a decade. We started with the idea that students should have a more affordable option for buying course materials—and the web offered a perfect vehicle. Soon enough, schools began to partner with us in order to leverage our educational eCommerce platform. And the fact that we integrate with already-existing course registration, financial aid, SISs and other technology systems makes the transition an easy decision for most schools. Our prices rival third-party sites, and, unlike on the most popular of those sites, students are able to apply financial aid dollars to their textbook purchases. So students pay less for high-quality texts, and financial aid dollars are applied tothe most affordable books instead of the mostexpensive. Akademos delivers the right course materials, at affordable prices, on time. Learn more about Akademos' faculty textbook comparison portal at www.adoption.akademos.com, its direct-to-students eCommerce platform at www.textbookx.com and its offerings to partner schools atwww.akademos.com.
  • 23. 23 Index of Additional Resources Click the resource titles below or visit Akademos.com to request your copy. All materials are available free of charge. For more news, information and resources, visit our blog: blog.akademos.com. White Papers 2015 College CFO Survey on Textbook Delivery and Bookstore Services Read the executive summary from the 2015 survey of college CFOs regarding the future of textbook delivery and bookstore services. 2015 College President, Provost and Chief Academic Officer Survey on Textbook Delivery and Bookstore Services Read the executive summary from the most comprehensive survey of college Presidents, Provosts and CAOs regarding textbook affordability. Best Practices for Reducing Textbook Costs This white paper explores the recent experience of two institutions that have successfully made the transition to an online bookstore, highlighting best practices and key requirements. The Changing Landscape of Bookstore Services for Colleges and Universities Learn more about the changing landscape of textbook delivery and review tips on contracting bookstore services. Webinars 2015 College CFO Survey on Textbook Affordability and Bookstore Services Three years ago, Akademos completed the first comprehensive survey of college CFOs regarding the future of bookstore services and this informative webinar provided a first look at the results of the follow-up study addressing critical issues and key trends. How Your Bookstore Can Reduce Textbook Costs, Win Back Students and Recapture Sales See how Davenport University implemented a new lower-cost textbook solution, saving students over $1.9 million—and was able to increase bookstore utilization, optimize their physical store footprint and dramatically increase student satisfaction. How to Implement an Online Bookstore and Reduce Textbook Costs This webinar takes a behind-the-scenes look at John Jay College of Criminal Justice (CUNY) and its approach to implementing an integrated bookstore solution. Hear about the steps John Jay took and how to make it work for your school. Plus, learn how Akademos’ SIS/ERP integration technology delivers a personalized student shopping experience and other important institutional and student benefits, like financial aid integration and reporting features.
  • 24. 24 For more information about this survey or for questions about our online bookstore services, contact us at www.akademos.com. Akademos, Inc. | 200 Connecticut Ave., Norwalk, CT 06854 203.866.0190, ext 36