We are preparing to reduce magazine space in my newsagency without reducing the number of titles we carry. Our magazine unit sales April through June were up 13% on 2013 and weeklies up 11%. Reducing range is not an option.
We have developed a layout plan change that allows us to cut magazine floor space allocation by 25%, freeing this space for higher margin product while at the same time chasing continued magazine sales growth.
Too often I see newsagents cut magazine space without having a plan for what comes next. In our case the plan for what comes next guided us to the decision to cut space. Our magazine sales growth ensured we planned to do this in a way that did not harm magazine sales.
Magazines continue to be a key traffic driver for newsagencies. We need to approach any change thoughtfully.
Mark
I note that you are going to hold the amount of titles. Are you just reducing the amount of pockets per title or going down the overlap road.
A mixture Rowan. Overlap where appropriate and single pocket where we may double pocket. We have deep pockets – literally.