Newsagents still talk of territories and complain when a newsagent or other small retail business offering similar product moves too close to their business.
We ought to embrace competition for it is out of robust competition that fight harder and smarter for our own businesses.
Another business will not stop competing just because a newsagent asks – they are likely to fight harder to prove the competition point.
There is no better illustration of the benefits of competition than Martin Street, Brighton, Victoria. Over the last two years this sleepy little street has become home to a bunch of cafes and bakeries. It has gone from being a street which has seen better days to being a beacon, a hive of activity.
The image on the left is of a flyer a group of the traders have produced. They are happy to be listed next to each other even though they compete. Visit the businesses at lunchtime and you soon see that while they all offer food, each has a different take. Such are the benefits of competition.
The mindset of these traders is the mindset we newsagents need when it comes to small business competitors. I am not talking here about the majors like Government Owned Australia Post outlets getting into our categories – that is a whole different issue.
If an independent stationery outlet opens near us, we need to respond in our own in-store offer. Likewise a card outlet. I have done this to myself at Forest Hill with our Sophie Randall card shop in the same centre as a newsagency I own. Both have had a very good year. Despite the competition, the newsagency has experienced excellent growth in card sales.
If you find yourself near Brighton in Melbourne around lunchtime, check out Martin Street and see the value of robust competition. The food and the coffee is worth the visit – in several of the stores.