The rejigged uni stores are showing they mean business

Susannah Moran
March 15, 2013
The Australian

FOR decades, the Co-op Bookshop has been the place to buy textbooks on Australia’s university campuses.

But the 55-year-old organisation has undergone a transformation and these days you are just as likely to find nail polish, iPad covers and cans of Red Bull for sale. Personal finance advice and loans are on offer in some stores, and mobile phone plans and insurance are next in the expansion plan.

While many professionals haven’t set foot in a Co-op for years, chief marketing officer Greg Smith will soon track them down. With a membership of 1.72 million people, the Co-op is forming partnerships with professional bodies and alumni groups and offering free delivery for online shoppers.
And don’t worry if you can’t find your membership card to get discounts – there’s a new app that means you don’t need to keep your card in your wallet.

Mr Smith began his career at the Australian Stock Exchange in the late 1980s as a financial analyst before moving into marketing. He worked in the banking sector in business development and marketing roles before branching out to set up a number of cafes where you could get loan advice with your latte.

Mr Smith, who joined the Co-op in January last year, said: “The brief was transformation: how can we take an organisation which was logistics-focused into a modern day multi-channel retailer?”

The Co-op – part of the makeover has been to drop the “Bookshop” in its title – used to have two peak selling periods, in February at the start of the university year, and then again in the middle of the year.

In an attempt to get customers into the store all year round, the Co-op has diversified into products such as lipsticks and nail polish, a wide range of technology products and drinks such as Red Bull. The results have been swift, with 10 per cent of all sales now in the non-book category.

Mr Smith invested in sophisticated technology that tracks consumers buying habits – when they last bought a product and what it was, how often they shop and how much they spend.

University of Melbourne arts student Mandy Baxter came for the books but stayed for the gourmet chocolates, one of the new offerings at her campus Co-op.

The 20-year-old said convenience was a priority for most people on campus. “I came down here to pick up readings for my course but me and my friend were really interested in the selection of gourmet chocolate,” she said.

ADDITIONAL REPORTING: MITCHELL NADIN