College Stores Gather at BEA

By Cindy Thompson

For the second year, the National Association of College Stores (NACS) partnered with the American Booksellers Association to present two programs as part of ABA's Day of Education at BookExpo America. On Thursday, June 2, NACS hosted a Literary Luncheon and the College Store Idea Exchange & Roundtables.

Nearly 80 people gathered for the luncheon, which featured authors Sarah Hall (The Electric Michelangelo, HarperPerennial), Terry Pratchett (Thud!, HarperCollins), and Nelson George (Post-Soul Nation, Penguin). The luncheon was sponsored by NACSCORP, a leading distributor of books and technology products.

During the afternoon, two feature presentations were each followed by 30-minute roundtable discussions. In keeping with the ABA education program's emphasis on profitability, the sessions were designed to share proven strategies, specifically to help college stores improve their bottom lines and become more valuable campus resources.

Financial Reporting -- Keys to Profitability

Presented by Carol Miller, director of Varsity Mart at North Dakota State University in Fargo, "Financial Reporting -- Keys to Profitability" stressed that all college booksellers need to know how their department contributes to the store's bottom line and that sales and inventory objectives are key in determining profitability and demonstrating return on investment. Here are some of the highlights of Miller's session:

Manage Inventory Levels

• Maintain an inventory budget.
• Know your inventory turn (number of times you replace your inventory). Do you have merchandise moving in and out? How quickly?
• Establish inventory space and dollars for new titles and categories and set reorder parameters -- if and when you will re-order.
• Review categories at least twice per year, balance quick-moving and slow-moving categories, and tailor your selection to the needs of your campus.
• Know your return on investment. For every dollar you spend, how much are you getting back?
• Know your returns to sales ratios. Are you returning more than you are selling?
• Know when and when not to do markdowns.
• Know your sales to purchases ratio: Your sales should be very close or equal to your purchases.

Be Aware of the Factors Affecting the Health of Your Department

• Determine a buying "style"... find a way to streamline the process.
• Look at layout and fixtures with fresh eyes: You may be better off with fewer titles that can be well merchandised and seen by customers. Re-evaluate from time to time, and keep displays new and fresh.
• Evaluate your customers, what they buy and why. Can you change that pattern?
• Foster enthusiasm and schedule to allow staff to spend as much time as possible on the sales floor, with the customers!
• Make sales happen with the right promotions. Do you have a plan?

Event Planning: Preparing and Creating Successful Events

The time and effort necessary to create a successful event is worth it. This was the key point made by Rob Stahl, manager of the General Book Department at Colgate University Bookstore in Hamilton, New York, who noted that events make a college store a community center, inspire creativity, bring positive exposure ... and they can make money. Here are some of the highlights of Stahl's sessions:

Getting an Author to Your Store

• Contact published professors on campus.
• Contact authors from your community.
• Contact publishers. When speaking to reps, ask about authors touring your region. Look through catalogs and see where authors live and what tours have already been planned. Call publicity departments directly. Write a proposal requesting an author.

Meeting Publisher Expectations

• Sales: Assure university support and past sales. Let them know you report to the Book Sense or New York Times Bestseller lists.
• Attendance: Indicate that you have adequate space in store or on campus.
• Exposure: Inform them of local media and tell them the other ways you will promote the event.
• Cost: Assure them you can defray cost where possible (travel, hotel, etc.).

Media Kit: A resource for promoting your store to publishers

• Bookstore profile
• Photos of your store (interior and exterior)
• Media information
• List of authors who have been at your store/on your campus

Off-Site Events

• Sell books at university lectures, local book festivals.
• Hold book fairs/sidewalk sales.
• Participate in public school book fairs.
• Cooperate with local merchants and create a book event at another store (hardware store, flower shop).

Publicizing Events

• Send press releases to newspapers, contact university communications department.
• With permission, send e-mails to faculty, staff, students, and other customers.
• Promote the event on your website.
• Work to develop word of mouth.

In-Store Non-Author Events

• Children's programs, holiday parties
• Themed events
• Panel discussions, reading groups
• Hobbies and crafts (knitting, gardening, making scrapbooks)
• Customer appreciation days

Budgeting for Events

• Take advantage of publisher co-op funds.
• Use cost-effective methods to promote the event, utilize university facilities and equipment when possible.

Advice and Support for Event Planning

• Regional bookselling associations (NEBA, NAIBA, etc.)
• National bookselling associations (NACS, ABA)
• Contact other booksellers!

Cindy Thompson is the director of Committee/State Relations for the National Association of College Stores in Oberlin, Ohio.