ASX Listed Online Book Retailer Booktopia Scores Supply Deal with Zookal
At the back of record-high book sales across Australia in 2020, online book retailer Booktopia has signed an agreement with local e-commerce company Zookal. As a result of this deal, Booktopia is set to become an exclusive fulfillment and supplier partner for Zookal as academic sales continue to rise.
According to Nielsen, book sales in Australia saw a 7.8% rise in 2020, with sales by value hitting the $1.25 billion mark in comparison to $ 1.14 billion in 2019 [1].
A similar storyline can be observed with Booktopia with a notable rise in its academic sales. This growth can be attributed to the return of classroom education across schools and universities in Australia for the first time since the beginning of the COVID-19 pandemic.
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Booktopia and Zookal’s deal
As a part of the agreement, Booktopia will procure, supply, and distribute Zookal’s physical book orders from a spectrum of more than 1,85,000 titles. This will more or less represent nearly $ 22 million annual revenue generated by Zookal in this financial year.
According to Ahmed Haider, co-CEO, Zookal, the agreement which hands over the fulfillment and handling function to Booktopia will enable Zookal to prioritize its SaaS ed-tech platform.
The ed-techs sector in Australia was expanding at a commendable pace even before the COVID-19 pandemic. Even on the global scale, ed-tech was a growing trend as the number of academic-private partnerships saw a steep rise.
Mr. Ahmed also said, “The deal also allows Booktopia customers to have exposure to our innovative education tools Zookal Study, Homework Help, Test Prep and Textbook Answers adding significant value to their customer base”.
Tony Nash, CEO, Booktopia said that education continues to remain the company’s fastest-growing segment. The partnership with Zookal will facilitate its growth across the education sector and strengthen its position in the market.
The agreement is set to take effect on May 1, 2021.
More about Zookal
Zookal was launched in 2011 to offer students access to cost-effective resources and educational tools. Over the past few years, the company has grown from strength to strength and transformed into one of the top education platforms across the Asia Pacific region.
More about Booktopia
Booktopia is an Australian online book retailer which has grown at a rapid pace in the past years. The company’s growth has been fueled by the rise in online shopping and investment in a new distribution center.
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Source:
[1] (2021) “Nielsen: Australian book sales up 7.8% in 2020” Books and Publishing [online] Available from: https://www.booksandpublishing.com.au/articles/2021/01/18/161393/nielsen-australian-book-sales-up-7-8-in-2020/#:~:text=Sales%20of%20books%20in%20Australia,the%20year%20was%2067%20million. [accessed April 2021]
