Adapting to a Digital-First, Cost-Conscious Student Body
Over the past decade, the traditional role of the campus bookstore has undergone a significant transformation, driven by the evolving needs and preferences of students and faculty. As the higher education landscape continues to shift, campus bookstores are tasked with finding new strategies to remain relevant and contribute to the overall success of their institutions.
The Decline in Student Spending
One of the primary challenges facing campus bookstores is the steady decline in student spending on course materials. According to the College Board Trends in College Pricing and Student Aid 2023 report, “average student spending on textbooks and digital course materials declined by over 40% in the last decade.” This shift can be attributed to a combination of factors, including the rise of digital learning, the availability of more cost-effective alternatives, and students’ growing emphasis on affordability.
Audrey Rahimi, a first-year medical student at Georgetown University, reflected on her undergraduate experience, noting, “As an undergrad, I felt obligated to read every assigned reading, and tried to purchase textbooks wherever it was cheapest. I often went through the bookstore for science textbooks so I could rent them and return them at the end of the year. For smaller books or novels for Spanish, I would buy them through Amazon or online and often keep them.”
Adapting to Digital-First Course Materials
The shift towards digital course materials has been further accelerated by the COVID-19 pandemic, which saw a significant increase in online and remote learning. James Best, the director of Cornell Retail Services, observed this trend, stating, “I’ve seen a shift in preferences toward digital materials. The bookstore implemented programs in partnership with the university to transition from physical course materials to a digital-first course materials model.”
To address this change, campus bookstores have embraced various delivery models, such as Cornell University’s Equitable Access program, which provides all required textbooks to undergraduates for a flat fee each semester, prioritizing the provision of digital formats by the start of classes. The university’s Instant Access program ensures graduate and professional students have digital access to textbooks on the first day of class, with the costs bundled into tuition and fees.
These initiatives demonstrate the bookstores’ efforts to adapt to the digital-first landscape and ensure accessible, affordable course materials for students.
Expanding Beyond Books
As textbook revenue continues to decline, campus bookstores are exploring new avenues to generate alternate sources of income and engage with the student community. An in-depth report by MBS Books highlights various strategies that schools are implementing, such as incorporating dining options, pop-up shops, technology centers, and more to drive traffic and interest.
James Best shared Cornell University’s vision for its campus bookstore, stating, “The Cornell Store will create an experiential space for the campus community by providing hands-on experiences and interactive engagements including augmented reality experiences, personalized product recommendations and interactive digital displays.”
By expanding their offerings beyond traditional textbooks and course materials, campus bookstores are positioning themselves as hubs for campus life, providing a range of products and services that cater to the diverse needs of students and faculty.
Leveraging Smart Lockers for Operational Efficiency
To enhance the campus bookstore experience and streamline operations, many institutions are turning to smart lockers as a game-changing solution. These automated pickup systems offer a range of benefits, from reducing wait times and improving the student experience to increasing efficiency and generating additional revenue opportunities.
Enhancing the Student Experience
Smart lockers enable students and other bookstore customers to pick up their orders on their own schedule, with pickup times as quick as 7 seconds. This convenience factor has proven to be a significant draw, with 95% of locker users indicating they are likely to become repeat customers.
Valencia College in Florida is one institution that has embraced smart lockers, dubbing them the “VC Vault.” By automating the order pickup process, the college was able to significantly reduce its reliance on manual labor, freeing up resources and streamlining operations. Campus Store Manager Frankie Ortiz noted the stark improvement, stating, “We didn’t have to deploy a small army to make sure that every student is prepared on that first day of class.”
Driving Additional Revenue Opportunities
The integration of smart lockers into campus bookstore operations can also open up new revenue streams. Recent research by PYMNTS revealed that nearly half (47%) of U.S. consumers say they wind up buying more when they come to collect eCommerce orders in-store or curbside, with another 17% saying they purchase additional items when picking up orders some of the time.
By strategically positioning the smart lockers, institutions can further boost revenue. For example, the University of Pittsburgh implemented a creative “birthday locker” initiative, where parents can arrange for Pitt-branded merchandise to be placed in designated lockers for their children’s birthdays, adding a personalized touch to the experience.
Streamlining Returns Management
In addition to improving the customer experience, smart lockers can also revolutionize the returns process for campus bookstores. By simplifying reverse logistics, the returns process can take less than 30 seconds from start to finish, benefiting both customers and employees.
Transforming Campus Bookstores into Experiential Hubs
As campus bookstores navigate the evolving landscape, many are transitioning into multifunctional hubs that blend various services and amenities, creating engaging experiences for the campus community.
Partnerships and Expanded Offerings
Colleges are partnering with companies like Barnes & Noble to manage their retail outlets and official campus bookstores, leveraging their expertise and resources to enhance the overall experience. Additionally, institutions are transforming campus spaces into vibrant, multifunctional hubs that seamlessly integrate dining facilities, pop-up retail, cutting-edge technology centers, and diverse communal areas.
Leveraging Technology for Personalization
To further elevate the campus bookstore experience, some institutions are embracing the power of technology. Cornell University’s bookstore, for example, utilizes AI-driven technology to provide tailored product recommendations, creating a dynamic, ever-changing environment that informs, entertains, and increases sales.
Conclusion: Securing the Future of Campus Bookstores
In an era of declining enrollment trends, lower student spending, and the need to retain the relevance and revenue of campus bookstores, IT professionals and higher education institutions must collaborate to implement innovative solutions and strategies. By embracing digital-first course materials, leveraging smart lockers, and transforming campus bookstores into experiential hubs, these institutions can ensure the continued success and relevance of these essential campus resources.
To learn more about how IT solutions can revolutionize campus bookstore operations, visit IT Fix, where our team of seasoned experts provides practical tips and in-depth insights on technology, computer repair, and IT solutions for the higher education sector.
