http://www.universityworldnews.com/article.php?story=20100123090937817
Leah Germain
24 January 2010
Issue: 108
As any university graduate can attest, the process of getting a degree is often a pricey endeavour. Along with tuition fees, students find themselves shelling out for textbooks and course packs that can add up to a small fortune, an average of US$900 a year in America. But BookRenter, a web-based company in northern California, is offering students an alternative to purchasing their expensive textbooks: simply rent them.
BookRenter says it can save users up to 75% when they rent their required textbooks through its online exchange. Among other guarantees, the company promises customers their textbooks are either brand new or slightly used; there are - its managers claim - millions of books available and delivery is free if the textbooks do not arrive on time.
The United States Public Interest Research Group (PIRG) has released findings suggesting an American student can spend an average of US$900 a year on textbooks, which translates to roughly 20% of the tuition fees at a public community college. PIRG also stated that since 1994, the cost of textbooks had increased at four times the rate of inflation.
BookRenter's website reports an overall growth of 300% following last September's start of the new academic year. With more than 40,000 students using the database from 5,000 campuses across the US, BookRenter has a firm grip on the US market.
"We've experienced a record year of growth by focusing on what our customers really want - selection, affordable prices, high-quality books and reliable delivery," says Mehdi Maghsoodni, BookRenter's CEO.
Launched in 2007, BookRenter has harnessed the power of new media to help communicate with its customers.
"Consumers are surprised when they discover that the majority of our team is dedicated to working with customers online via Twitter, Facebook, email and chat. We view our customer support and community team as a core pillar of our business versus seeing it as a cost centre," says Maghsoodnia.
