Students Going Online to Save Money on Textbooks

Victoria, BC (PRWEB) August 18, 2005

America’s students will show their distain for highly priced textbooks by going online and purchasing discounted and used textbooks in record numbers during the current back-to-school season, according to Abebooks.com – the world’s largest online marketplace for books.

Abebooks.com expects to sell more academic books in August and September than any previous back-to-school season as increasing numbers of cash-strapped students turn to Internet booksellers. In January and February 2005, the website saw textbook sales increase by 400 percent on 12 months earlier, and that trend is set to continue.

List prices for new textbooks often exceed $ 100 and students studying medicine, engineering, the sciences and niche subjects are confronted with price-tags over $ 150. According to a report* from the Government Accountability Office released Aug. 16, textbook prices have increased at twice the rate of inflation in the past two decades and the average student spends almost $ 900 on textbooks and supplies.

Abebooks.com offers millions of new and used textbooks, and its average used textbook price is $ 27.

A common title such as Organic Chemistry by TW Graham Solomons and Craig Fryhle (July 2003 edition) has a list price of $ 141, yet used copies of the exact same edition are offered for $ 89 on Abebooks.com, which also has used older editions for $ 1.

Abebooks.com has a dedicated section called "Textbook Central" to help students find their books easily and quickly. It also includes a buy-back program where students can sell their books to recoup funds, as well as contests to win a Tablet PC, gift certificates for posters, CDs and iPods.

“Previously students had no choice but to purchase their textbooks at list prices from their own campus stores or large local bookstores,” said Sue Connors, Abebooks director of bookseller community. “In the last 18 months, the Internet has dramatically changed that situation and now price-conscious students can choose between new and used editions at cheaper prices by simply spending a few minutes online.”

About Abebooks.com:

Abebooks.com is the world’s largest online marketplace for books, with over 70 million new, used, rare, and out-of-print titles listed for sale by more than 13,000 independent booksellers from around the world. Abebooks has millions of registered customers who collectively purchase more than 25,000 books a day from its five global websites (Abebooks.com, Abebooks.co.uk, Abebooks.de, Abebooks.fr and Iberlibro.com). A true internet success story, Abebooks.com has been selling books online since 1996, and is a private company based in Victoria, B.C., Canada, with offices in Germany and Spain.

Contacts:

Richard Davies, PR & Publicity Mgr., Abebooks

Office Ph: 250-412-3238

*Published by the Government Accountability Office

http://www.gao.gov/docsearch/repandtest.html

###

Textbooks Cited by College Students as a Worrisome Expense

San Jose, CA (PRWEB) August 24, 2005

With the cost of textbooks rising at double the rate of inflation¹, the findings of a recent survey by Half.com shouldn't be surprising: about 55% of college students this year will dip into savings to pay for textbooks. Moreover, students cite textbooks as a worrisome expense as they head back to school for fall semester.

Other findings from the survey include:

Almost half (45%) of college students are managing their finances for the first time

Forty-three percent of parents require their children to cover the costs that go beyond their college allowance

Close to 75% of students work either full- or part-time during the school year, yet nearly two-thirds (65%) still consider themselves to be "financially breaking even" or "flat broke"

Most (56%) students have avoided purchasing textbooks for their classes because they were too expensive. One in six students surveyed avoided taking or dropped a class because the textbooks were too expensive

Almost 70% of students say that they are responsible for paying for their textbooks

Nearly half (43%) of parents surveyed said their children are allowed to keep any money they save if they spend less than their college allowance

"Students have plenty of pressure at college, from exams to living away from home and managing finances for the first time," said Greg Fant, vice president and divisional merchandise manager, eBay and Half.com. "Our survey concluded that the cost of textbooks sometimes prevents students from buying them. No student should have to take a class without the necessary resources."

This national survey was conducted by Survey.com in August 2005. Five hundred college students between the ages 19- to 25 participated in the survey as well as 500 parents with children currently enrolled in college or graduate school. The margin of error was +/- 4.4% (95% confidence interval).

¹A study conducted by the General Accounting Office released on August 16, 2005 revealed that in the last two decades, college textbook prices have increased at twice the rate of inflation. Increasing at an average of 6 percent per year, textbook prices nearly tripled from December 1986 to December 2004, while inflation was at 74 percent.

About eBay:

Founded in 1995, eBay created a powerful platform for the sale of goods and services by a passionate community of individuals and businesses. On any given day, there are millions of items across thousands of categories for sale on eBay. eBay enables trade on a local, national and international basis with customized sites in markets around the world. Through an array of services, such as its payment solution provider PayPal, eBay is enabling global e-commerce for an ever-growing online community.

Media Contact:

For more information about Half.com or the survey results, please contact Lauren Baum at 212-221-1713, ext. 324 or laurenb@kaplowpr.com.

# # #

Related Textbooks To Buy Press Releases

CampusBooks.com Inc. Announces Record Number of Students Buying Textbooks Online

San Diego, CA (PRWEB) August 26, 2005

With the back to school season in full swing, CampusBooks.com announced today that a record number of students are buying textbooks online this year. According to Alex Neal, President and Founder of CampusBooks, website traffic and online textbook sales have more than doubled over last year.

According to Neal, "Our business has grown exponentially over the last three years. We are seeing more and more students buying textbooks online. As the Government Accountability Office (GAO) study pointed out last week, textbook prices have been rising at twice the rate of inflation. The average first year college student now spends over $ 900 on textbooks. Coupled with the fact that college students today are very Internet savvy, and it’s easy to see why more and more students are buying books online."

College textbook costs have been rising rapidly due to the widespread industry practice of "bundling" (where book publishers bundle their textbooks with software CDs and other extras and then mark up the price significantly). Additionally, new editions of the same textbook are released virtually every year, with little new content but higher retail prices. This practice discourages the sale of used textbooks that undermine textbook publisher profits.

"The best way to save money on your textbooks is to buy used," adds Mr. Neal. "It’s like buying a used car. Let the original buyer take the depreciation hit, and get more books for your buck. Also buy older editions if possible. Check with your instructor first, but typically the content of a new edition is not much different from the previous edition. The biggest difference is the price."

CampusBooks is a free online textbook price comparison shopping service that searches over 40 bookstores for the lowest prices on new and used textbooks. The site searches all the top bookstores on the Internet, including Amazon, BarnesandNoble and many others. Additionally, CampusBooks operates a used book marketplace where students can sell their books directly to other students.

According to Neal, "The average student saved over $ 180 buying their books on our site, and sold their books for $ 24 more on average than what they would have gotten at the campus bookstore buyback. Using the Internet to buy and sell books is really a win-win for college students."

Mr. Neal founded CampusBooks Inc. in 1998 during the height of the dot com boom. Originally an online textbook reseller, CampusBooks evolved into a textbook comparison shopping site in 2000 and continues to grow.

For information: http://www.campusbooks.com or

Contact: help@campusbooks.com

Phone: 858-569-5009

Fax: 858-569-0359

# # #