August 8, 2013 (El Cajon) – In an effort to keep textbook prices in line with student budgets, Grossmont College Bookstore has introduced a new money-saving option.
Michael Gilchrist, the manager of the bookstore operated by Barnes & Noble, said the new option is called "dynamic pricing for rentals," which allows flexibility in price setting.
“Whereas before there were set prices for rentals – such as 50 percent of the new book price – prices can go even lower to meet competition from online retailers,” Gilchrist said.
"Rental titles may be more than 50 percent off the new book price" under this system and "used rentals will be less expensive than new rentals," he said.
Gilchrist noted that textbooks can sometimes be set at very high prices by publishers. “Dynamic rental pricing is very exciting because it is really the first time the bookstore can determine the price of a textbook,” he said.
Within the boundaries of contracts, Gilchrist said, the bookstore management wants to do whatever it can to make it easier for students to obtain their necessary textbooks.