We receive 10 copies of each issue of Australian Model Engineering and 5 are putaway orders. That is, we have standing orders from customers for them. Special labels are printed with customer names and these copies are filed alphabetically behind the counter. When customers collect then, we scan the customer specific barcode and record that they have collected their copy of the magazine. We let customers know when each issue comes in by sending them a text message – our computer system does this automatically for us. Plenty of other newsagents offer this premium putaway service.
I mention it today because more publishers are visiting this place and I suspect that they did not know about the premium putaway service newsagents offer.
I am using Australian Model Engineering magazine as my example because I love this magazine. Not so much the subject matter, it is above my knowledge and patience, but its sales efficiency. 50% sell through from putaways and usually another 30% to 50% from over the counter sales. If only every magazine could perform this well. It pays for its space, more so than some titles inside the top 200 in terms of sales volume.
I hear of newsagents cutting magazine space and this worries me because titles like Australian Model Engineering will be cut. As magazine specialists we need to carry this title and many like it. Otherwise, we become glorified convenience stores when it comes to magazines.
We cut our magazine space two years ago but increased the pockets for special interest.
The problem with special interest has been the number of poor performers that have been introduced by some distributors over the years – we are wasting a lot of time weeding out poor sellers to make room for titles like Australian Model Engineering.
For us it is all about building this category. Training staff to ask if a customer wants it put away, balancing this with not getting tied up at the counter when it is busy, and most importantly keeping a constant eye on what is coming in. As with part works, they don’t just come to you, it takes effort and time. But when it works it really pays off.
Mark you are so right about putaways and these ‘fringe’ titles. We are unique in offering this service. It is a pity that distributors abuse us in other ways to hurt our business. What I mean is that they know we want to be specialists and load us because of this.
I am one of those newsagents looking carefully at where I can cut my magazine range.