get the facts at www.nacs.org University of Illinois

University of Illinois
F u l l Tr a n s p a re n c y on Te xtbook Pr ic in g
The Illini Union Bookstore provides comprehensive
Having a local competitor nearby also demands that the
information on required course materials on its web site
store be vigilant about competitive pricing. “We check
so students can shop around to get the best value for
prices at all levels with our competitor to make sure that we
their dollar. The store also saved students more than
meet or beat their textbook prices,” Posas says. “So for the
$150,000 in the 2012 fall semester alone by expanding
student, if the price is
its rental program.
equal, why go to the
second location when
About the University of Illinois
they can ‘one-stop
The University of Illinois is the largest university in the
state with campuses in Chicago, Springfield, and UrbanaChampaign.
The Illini Union
Bookstore on
the Urbana-Champaign campus is the University’s official
bookstore and serves approximately 42,600 students.
The Challenge: Help Students Shop
for Lowest Textbook Prices
shop’ at our store!”
The Solution:
Transparency,
Hosting a Student
Book Exchange,
Increasing Rental
To make it easier for
students to
comparison shop for
The Illini Union Bookstore began as a student book
textbooks, the store
exchange in the 1920s. Now owned by the university
continues to post complete information about required
and reporting to the Department of Student Affairs, the
course materials on its web site, including ISBN numbers
store’s mission is to provide superior value and service
and buyback prices. Today, the store maintains low
to students. Store managers are especially determined to
textbook pricing with 16% markup on new textbooks and
help students get the most value for their textbook dollar.
55% retail buyback pricing.
According to Dan Posas, store director and associate
“If you were strictly following a financial model, you
director, Retail Operations, students are often responsible
would not post all this data, because you could be giving
for buying their own textbooks, even when their parents
business away by making it easy for students to shop
pay for other college-related expenses. “Even though
elsewhere,” Posas says. “But we work for Student
tuition and fees and other expenses are far more than
Affairs and we are here for the best interests of the
textbooks, course materials costs impact students
(continued on back)
more directly,” he says.
get the facts at www.nacs.org
students. With the information we provide, our students
students more than $150,000 for the 2012 fall semester
can find the best price, shop around, maybe buy the
alone, compared to a $70,000 savings for the whole year
book from their buddy across the hallway,” Posas says.
last year.
“We just want to make sure we get the best information
to them so they can make informed decisions when
The Results
they’re buying their books.”
Since it began providing book lists, ISBN numbers,
The store also partners with the student-run Illini Book
Exchange (SBX), which matches used-book sellers
with buyers, who then conduct monetary transactions
and maintaining low textbook prices, the store has seen
a huge increase in web traffic as well as an increase
in buyback units.
on their own. Upon request, the store provides SBX with
By giving students detailed information they need to
an electronic database of their booklist. Once a student
comparison shop, the store has also created goodwill
finds the required book on the
and strengthened its reputation as a trusted student
store web site, they have the
resource. Even though students
option of going to the SBX web
like to price shop, many still buy
site and finding it for resale.
their used books from the store.
However, students are highly
And when they do need to
encouraged to double check that it
purchase new materials—
is the correct book. They can then
including revised editions and
arrange to meet with the seller in
obscure texts—they know they
the bookstore lobby.
can find them at the store.
“We have a banner in our lobby that
“We work hard to reduce the
says ‘SBX Meets Here.’ The area is
burden on students,” Posas
lighted, it’s heavily trafficked, and
notes. “The student-centered
it’s safe,” Posas says. “It’s a good
approach is a very different
partnership all the way around. It
business model. Of course we
benefits students by giving them another way to lower
have to make money—between the staff and students, we
their price on textbooks and offering a safe place for
employ close to 200 people. But we can do that and still
buyers to meet with sellers.”
be student-friendly and deliver the necessary required
product at a reasonable price.”
The store continues to expand textbook buying options
and finding ways to better serve its students. The store
increased the availability of textbook rental from 300
titles to more than 4,000 titles! The program has saved
© National Association of College Stores
get the facts at www.nacs.org