RedShelf is Working to Reduce the Cost of Academic Textbooks
Joey Haar — August 23, 2016 — Life-Stages
References: redshelf & techcrunch
RedShelf is an online retailer dedicated to bringing the textbook industry into the 21st century. As college students start a new year of school, the one thing they surely aren't looking forward to is having to buy excessively expensive textbooks for every class and then proceeding to carry those cumbersome things around every day. RedShelf is digitizing textbooks, making them more convenient and -- most importantly -- more affordable.
While a hard copy textbook at a college library would make a non-student gasp, college students are used to those exorbitant prices. RedShelf's system cuts up to 60 percent of the cost on textbooks, letting students purchase their textbook in e-book form at the same time. The system also benefits publishers, because e-books can't be resold, meaning that incoming students need to buy a new book every year (ultimately increasing textbook revenue.)
While a hard copy textbook at a college library would make a non-student gasp, college students are used to those exorbitant prices. RedShelf's system cuts up to 60 percent of the cost on textbooks, letting students purchase their textbook in e-book form at the same time. The system also benefits publishers, because e-books can't be resold, meaning that incoming students need to buy a new book every year (ultimately increasing textbook revenue.)
Trend Themes
1. Digitized Textbooks - Opportunity for creating digital platforms that offer affordable and convenient access to college textbooks.
2. E-book Retailing - Opportunity to disrupt traditional print textbook sales by focusing on e-book distribution platforms.
3. Affordable Education - Opportunity to reduce the financial burden on college students by providing cost-effective textbook solutions.
Industry Implications
1. E-commerce - Opportunity to develop online platforms for selling and distributing digital textbooks.
2. Publishing - Opportunity for publishers to explore digital publishing models to capitalize on the growing demand for e-books.
3. Edtech - Opportunity for educational technology companies to innovate and provide affordable digital textbook solutions.
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