A blog on issues affecting Australia's newsagents, media and small business generally. More ...

Missing the impulse opportunity

impulsesales.JPGThese magic trick packs were on the Gibson stand at the GNS market fair in Melbourne a few weeks ago. The price was 15% off their usual wholesale price. They were not popular with Market fair attendees. We bought them for our newsagencies as we felt they would be a good impulse product. We have had the stock out for a couple of weeks and they are selling well. They are being bought as birthday gifts for boys as well as for early Christmas stocking fillers.

While they may not be the most attractive product or generate hundreds of dollars of profit, we will sell through all the stock quickly – pickling up sales we would otherwise not have achieved.

We need to look at trade shows like the Market Fair for even the smallest opportunity to extend each shopping basket. That means magic tricks today and who knows what tomorrow.

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