Amazon on Monday announced Kindle Textbook Rental, that will allow students to save up to 80% off the retail prices of textbooks, by renting them as ebooks from Kindle Store, instead of purchasing them. It is like a library where one have to pay for the privilege of borrowing from.
According to Amazon “ten of thousands of textbooks are available for the 2011 school year” from several textbook publishers like John Wiley & Sons, Elsevier and Taylor & Francis. Students will need to choose a rental length ranging between 30 and 360 days and pay only for the time they need a textbook. One can extend their rental period as specific as single day or convert the rental to purchase at a discounted rate. Students can continue to access any notes and highlights even after their rental period ends by visiting Amazon’s website.
Amazon’s entry that comes after rival Barnes & Noble’s, arrives as the National Association of College Stores estimates that U.S. college stores posted $10.25 billion in sales for the 2009-2010 fiscal year with each student spending $745 on average.
Amazon had experienced tremendous success converting the general market to ebooks. In May, the online retailer giant announced sales for its digital book format that had surpassed hardcover.
