INDEPENDENT COLLEGE STORES REPORT

INDEPENDENT COLLEGE STORES REPORT

The Independent College Stores Report (ICSR) is a joint project of ICBA and the Large Stores Group (LSG) and represents the most comprehensive financial survey of independent stores. The data reported in the ICSR offer a current snapshot of the independent college store channel and reflect the trends that are redefining our businesses.

Many members use the data as part of their effort to evaluate the performance of their stores and to plan strategy for the future. While performance goals and business objectives will vary from store to store, the ICSR offers comparative data that you can use to measure your progress and set benchmarks for key performance indicators.

The ICSR data and results are confidential and are available only to ICBA Members and LSG Members who formally submit their store's ICSR Survey data.

THE 2023 INDEPENDENT COLLEGE STORES REPORT SURVEY

The 2023 ICSR Financial Survey has closed and the 2023 Report was released. If you completed the 2023 Survey and did not receive a copy of your report, or aren't sure how to access it, please email us at ICSR@ICBAinc.com.

Watch for details about the 2024 Survey in Fall 2024.

2023 ICSR AWARDS

Each year, the ICSR Awards Committee reviews ICSR Survey results in each product category and identifies stores that have achieved sustained high performance. The Awards Committee considers sales, gross margin, inventory turns, and other key performance metrics. The Committee also interviews the management teams at these high performing stores to get additional insight into strategies and decisions that led to success. The ICSR Awards are announced and award-winning stores are recognized at the Annual ICBA Conference.

Award Categories Include:

Course Materials Management

Technology Product Management

Insignia Product Performance

Excellence in Expense Management

Excellence in Store Management

Congratulations to the 2022-2023 ICSR Award Winners!

Excellence in Course Materials Management

The Duck Store, serving the University of Oregon

From 2018-19 to 2022-23:

Sales Increases in all facets of the Course Materials
New, Used, Custom, Rentals, Digital, & Total
Massive Margin increase over Last Year
Greatly improved overall Total Store Income
Improved Course Materials ICSR Ranking in both GM Ratio and Inventory Turnover

Excellence in Technology Product Management

Iowa State University Bookstore

From 2018-19 to 2022-23:

Increased Sales 30% over 5 years to over $10M in 2022-2023
Increased Turns from 8.4 last year to 16.9 this year
Implemented M1 reporting for comprehensive and efficient data analysis which facilitated reduced inventory, increased turns, and improved margin
Streamlined processes to enhance overall workflow and productivity
Utilizing a well-defined marketing plan to promote products effectively, with emphasis on scheduling regular emails, multiple times per month, to maintain consistent communication

Outstanding Insignia Product Performance

McMaster University Campus Store

From 2018-19 to 2022-23:

Increased Insignia product sales 35% over 5 years
Increased Margin nearly 10% over last year
Detailed Event & Promotional Planning
Leveraged Social Media to Enhance Awareness and Excitement leading up to launch.
Launched additional collections & expanded recognizable brands

Illini Union Bookstore

From 2018-19 to 2022-23:

Increased Insignia product sales $1.3 Million year over year
Nearly doubled Turns for Insignia Products
Product – identified specific product categories and went deep in inventory(plush, basics, custom signs, headwear)
Added Staffing – able to finally add a General Merchandise manager and supervisor.
Winning sports teams and special event dates – prepped well and communicated with key stakeholders.