BookRenter Helps College Stores with Expanded Local Services that Have Fueled 180% Growth in Textbook Rentals Year Over Year
(PRESS RELEASE) SAN MATEO, CA BookRenter.com, Inc the leading textbook rental platform, today announced that its 500+ college bookstore partners grew their online and in-store textbook rental revenue by a combined 180% year over year. Now, BookRenter is expanding its local footprint by opening more than 115 new RapidReturn® locations. BookRenter’s exclusive RapidReturn program enables any customer to return their rented textbooks to a local store, rather than by mail.
“Traditional online shopping provides consumers with access to better prices and a much greater selection, but sacrifices the convenience of local service,” said Mehdi Maghsoodnia, CEO of BookRenter. “The BookRenter Platform enables college stores to offer the best in price, selection, mobile, and local service in ways no online company can match, and in the end, the students and schools reap the benefits.”
In addition to offering students a convenient local option for textbook rentals and returns, the RapidReturn program helps college stores increase participation in textbook buy-back programs and drive incremental merchandise sales.
“RapidReturn check-in brings students into my store during the critical buy back season,” said Wendy Johnson, book manager for the San Francisco State University Bookstore. “Students are happy because they can go to one place to return their rentals and sell unwanted textbooks.”
“Since implementing the BookRenter local offering last peak, we recorded thousands more transaction than in previous seasons,” said Russell Weldon, course materials director for the Auburn University Bookstore. “Our online textbook rental business doubled, even as we offered in-store rental, demonstrating that students really do value a combination of online and local options for textbooks.”
The BookRenter platform offers college stores three service to better serve their students locally:
· RapidReturn drop-off– Enables students to easily return textbooks to a local store, increasing foot traffic during buyback season.
· Mobile price comparison – BookRenter’s Snapshot™ Mobile tool gives students the ability to comparison shop on their phones, increasing the likelihood that they will transact in the store.
· Pick up in-store – Students renting books online from a participating store can elect to pick them locally.
“Ultimately, our platform is all about making educational content more affordable and accessible,” said Maghsoodnia. “With the cost of education and student debt rapidly rising, we can improve both the affordability of and access to quality course materials. We leverage the benefits of both online and local service, allowing our store partners to cut the tremendous inefficiency out of the system and get the maximum value out of each educational asset.”
BookRenter founded the first textbook rental service in 2006 with a mission to make education more affordable by allowing students to rent textbooks for up to 80% off the retail price. BookRenter helps students find the best price, highest quality books, and most flexible rental experience through their campus store or online at www.bookrenter.com. Offering more than 5.5 million titles and serving millions of students on over 5,000 campuses, BookRenter has saved students more than $150 million dollars on their textbooks. With offices in San Mateo, California, BookRenter is a private company that is funded by prominent Silicon Valley venture capital firms. To learn more about how to use BookRenter for all of your textbook rental needs, please visit www.bookrenter.com.