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One Minute With Todd Summer
Torchlight | Summer 2008
Todd has been in the bookstore industry for nearly two decades and joined Aztec Shops in June of 2004 as the director of course materials and was promoted last November to director of the campus stores division.
Summer has been active in the college store industry serving and chairing committees for CACS, working on strategic planning for various organizations, and serving on the California State University Textbook Affordability Task Force. Todd is a graduate of Boston University.
Todd is just one of the NACS Foundation Student Watch 08 report buyers who took the time to answer some questions regarding his purchase. Here is what Todd had to say about this report:
NF: Why did you buy the survey?
TS: NACS was generous in reducing the price for this very important report. The industry has seen great change in the past with the evolution of the Internet and big box retailers. Competition has hit us for textbooks (amazon.com, ebay), trade books (amazon.com, B&N), supplies (Staples, Office Depot, Wal-mart), computers (the Apple Store), and Clothing (Steve and Barry's). Digital content will further challenge us and the Student Watch report is an essential tool to help us monitor where the industry is and where it might be going.
NF: What information do you hope to obtain from the outcomes of the survey?
TS: Critical market research data helps us predict future outcomes.
NF: How does your store benefit from the survey?
TS: It reinforces our assumptions about the market and contradicts other assumptions, leading to better strategizing.
NF: How do you apply the data to your store/employees?
TS: It is used as a motivator to promote thinking outside the box.
NF: Has the data assisted your store in your textbook and course material sales? Why/why not?
TS: It reinforces a focus on needing to bring lower-cost alternatives to market. This means growing the used-book market in the short term but we must also realize that the used-book market, to some degree, is at risk in the long term. Strategies around digital delivery, print-on-demand, and textbook rental, in addition to a strong and vital used book model, are essential.
NF: What statistics from the report surprised you?
TS: That 27% of professors recommend students go online to purchase materials. This was a huge increase from two years ago. Engaging faculty and administrators in the importance of including the bookstore in the transaction model—today and in the future—should be a top priority.
NF: What statistics from the report did not surprise you?
TS: The current usage rate of digital content. And, with 21% of students unsure whether they use digital content or not, the numbers are obviously understated. Jeff Bezos, of amazon.com, reported on May 28 at D6 (the 6th Annual "All Things Digital Conference") that for the 125,000 titles available in digital format for Kindle, that 6% of amazon.com sales for those titles were digital and 94% of sales were for traditional print.
NF: What tips/trends will you/have you utilized most from this report
TS: That 52% of students don't know if the campus bookstore provides digital content. The industry will need to market products better in the future.
NF: Do you find the information contained within the study current and valuable?
TS: It is quite valuable. However, in a rapidly changing environment the data is always going to be a bit behind the real, upwardly agile curve.
NF: Is the comprehensive report easy to comprehend?
TS: Yes.
NF: How many Student Watch reports have you purchased in the past?
TS: I am a first-time director and first-time purchaser.
NF: Is the price of the report reasonable?
TS: The reduced price certainly is. The regular price is also modest considering the wealth of information that is available.
NF: Are you aware that the NACS Foundation provided a grant to keep the cost of the report affordable for store members?
TS: Yes. Thank you, NACS Foundation.
NF: Why should other industry members purchase this research?
TS: Why wouldn't anyone want to know what their customers are thinking and doing? And when you see numbers in print reality sets in. Hopefully, that will provoke change.
NF: How did you hear about this report?
TS: Heard about the reduced pricing originally from Mark Nelson, Ph.D., MBA, digital content strategist, NACS.
NF: For future Student Watch reports, what would you like this research to focus on?
TS: More in-depth analysis on student plans for future purchasing habits-where, how, why.
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