It is hard to believe that we are 10 years removed already from the market crash of 2008 and how much that has shaped our current business practices and how we operate. One of the things I have observed over the years, at least in our industry, is the higher demand on suppliers to deliver value-added services for their products, preferably at no extra cost to the buyer.
Properly defined, purchasing power refers to the “value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.”1 So, it involves how much currency (money) a consumer has and how that translates into the amount of buying power the individual can exercise—or, simply put, how much you can buy with the money you have.
I would like to take a bit of different spin on this and contend that most buyers have a fairly fixed budget they can spend (for instance, on bargain books), so what is important to them and allows them to maximize the power of their purchase is to get as much for that budget as they possibly can. While your budget will dictate the maximum amount of physical product you can buy, if you are also receiving extra services when you buy that product, it will ultimately save you time and money, increasing the value of that purchase beyond the worth of the product.
More for Budget Dollars
When I relate this to the purchases you make at Book Depot, you are getting books on average between 75 – 90% off the publisher’s SRP. Certainly, for schools, libraries, and other institutional purchasers, this is a huge savings for your organization when buying bargain vs. direct from your front-list distributor. We see how institutional budgets are often being cut and government funding is being pulled, so buying bargain books is a great way to increase the power of your purchase. In doing some research while writing this blog, I came across this article from 1978 that speaks to looking for remaindered and bargain books to stretch your library’s budget dollars!
It is fascinating to see how individuals 40 years ago would go about researching and acquiring bargain books and how far we have come today with an enormous supply of product available to you at the click of your mouse.
Save on Shipping Costs
Another area where Book Depot can help increase the profitability in your purchase is through our consolidated freight options. With fuel costs on the rise and shipping companies continually raising their prices, doing bulk shipments of several orders can be a huge cost savings for you and help you stretch those purchasing dollars. At Book Depot, we offer you the ability to hold orders in our shipping department (for a reasonable amount of time) to bulk up your shipments and send a pallet of product at a better freight rate as opposed to multiple smaller and more costly shipments. And if you are one of those buyers who starts building an order online and has to come back to it several times over a period of a week or two before you feel like it’s large enough to fill a pallet, we would encourage you take advantage of this by making multiple orders over a shorter amount of time that we can consolidate for you. This way, you won’t see all those great titles disappear from you cart because it took you longer than you had hoped to finish your purchase. If you want to read more about consolidated shipping, please read our How to Lower Your Shipping Costs blog, which explains how you can start saving money.
Book Depot Delivering on Service
Some final thoughts on how Book Depot gives you more for you purchasing dollar—we treat each and every order, no matter the size, with the same care and respect that each customer deserves. We take great pride in two key areas that help improve customer satisfaction: an order fill rate of higher than 99% and a damaged book claim rate of less than 0.5%. We also take the time to make sure the books are clean and free of any price stickers that may have been in place from previous retailers. What that means to you is your orders will be accurate and complete, and your books will be undamaged and clean. When you spend your valuable budget with us, you can be assured that you will get what you ordered.
At Book Depot, our vision is to see increased profitability spurring on an evolving but vibrant retail book market. Making you, our customer, more profitable through value-added services and ease of ordering with our website is how we want to help you maximize your purchasing power with Book Depot!
Online Sales Manager
1 Investopedia. n.d. Purchasing Power. Accessed September 21, 2018. https://www.investopedia.com/terms/p/purchasingpower.asp.