BOSTON, Sept. 26, 2012 /PRNewswire/ -- ValoreBooks, the leading online textbook marketplace offering sales of new and used textbooks as well as rentals, today reported explosive growth in its textbook rental marketplace this past season. While the rental market has become saturated with providers, textbook rental growth on ValoreBooks continues to outpace traditional sales and is positioned for an even stronger upcoming season.
ValoreBooks launched its rental marketplace in August 2010 with a single supplier. Now with over a dozen suppliers, including industry leaders BookRenter and CampusBookRentals, it has grown into the leading destination for both customers and suppliers. Rental revenue this past season grew 346% over the previous year as consumer demand for rentals continues to increase. ValoreBooks customers traditionally visited the site because they knew they could easily compare prices of new and used textbooks. Now with the same ability to compare rental providers side-by-side, they know they're getting the best rental price available and they're renting more often – one in five purchases on ValoreBooks is now a rental. Furthermore, average rental order value has increased as students get more of their books through the rental marketplace.
"ValoreBooks has come a long way since its beginnings in a college dorm room," said Bobby Brannigan, ValoreBooks' founder. "But the growth of the rental marketplace has to be one of the most exciting developments we've ever had. It's not only an amazing resource for students, but it's also a huge win for our suppliers who are looking for more reach. After a great summer season, the team already is working on ways to blow the roof off the winter season."
The company is actively seeking new rental suppliers to meet consumer demand. Suppliers interested in taking advantage of the ValoreBooks rental marketplace can find out more information and sign up at valorebooks.com/rental-marketplace.
ValoreBooks' growth has not been limited to its rental marketplace. Sales of new and used textbooks also continue to grow season after season. Before the recent summer season, ValoreBooks added to its traditional marketplace thousands of new sellers and millions of new titles. Now with over 20,000 sellers and over 18 millions titles, customers are finding the best selection and prices, and sellers are finding the best place to host their inventory.
ValoreBooks recently announced that it has been acquired by SimpleTuition, Inc., the leading provider of tips, advice, and interactive tools that help students save on college-related expenses. "It's great to find another business that shares our values and goal of helping students save money on college-related costs," continued Brannigan. "Our shared focus means that together we now reach over 10 millions students per year, which is yet another opportunity for our business to grow. It's only been a matter of weeks, but we're already seeing the benefits."
Founded in 2002 and now part of SimpleTuition, Inc., ValoreBooks is dedicated to providing students textbook discounts and world-class customer service. Their textbook marketplace of over 20,000 sellers offers discounts up to 90% on over 18 million textbook titles and the lowest rental prices available. Sellers compete against each other to deliver savings that rival other online textbook providers and blow away on-campus textbook prices. Students can easily compare prices on new and used books and textbook rentals. ValoreBooks also provides textbook buyback to help students get money back at the end of the semester. For more information, visit ValoreBooks.com.
SOURCE SimpleTuition, Inc.