With over the counter sales of magazines and newspapers expected to be flat for the foreseeable future (with some exceptions but overall flat), newsagents need to turn their attention to product categories which are a less challenged fit for in-store sales as opposed to online sales.
One category which is an excellent opportunity, with upside, for newsagents is stationery. Now the business stationery which has been a bit of a holy grail for newsagents, but convenience stationery.
I am talking here about the items you will sell because your shop is conveniently located and hour hours are convenient to the need. Items needed for school and university projects, resumes, business reports, special occasions (sports finals) and home office needs. The product mix opportunities vary by newsagency based on their customer mix. A careful review of stationery sold, especially a review of stock-turn, will show the opportunity for growth in stationery sales.
Someone looking for work will not go online to buy what they need to put together a resume pack. A uni student will not go online to get folders and other materials necessary for uni classes.
Beyond understanding the needs of our customers, pricing our stationery range competitively and carrying brands people recognise, newsagents need to market the opportunity. A good marketing campaign could educate their customers about how their stationery offer is convenient, local and competitive.
A well configured and competitive stationery department should be growing.
Yes, the sales I am suggesting we chase are small. However, over a year, from a single customer (if we serve their needs) the sales can be considerable. The key is how we build that loyalty.
The extent of our success with stationery comes down to us. For me, I see it as having tremendous upside.
The stationery opportunity was part of my presentation at the QNF State Conference earlier this week and part of a longer workshop around the topic of Transforming your newsagency.