We have achieved a 71% sell through of the latest issue of Homespun magazine from Universal Magazines and we are only twelve daysd into the on-sale.
This sales success for Homespun reflects the success we have been enjoying for many of our quilting and craft related titles since we completed our full magazine relay in September last year. This relay project included creating a new location and better space allocation for quilting and craft magazine titles.
What is interesting is the basket analysis – we are getting quilting and craft titles into more baskets. We have increased customer traffic as well. This gives us a bonus … more traffic PLUS more sales to each customer.
There are newsagents who comment here about margin, saying they prefer to focus on better margin product. While I want better margin as much as the next person, I also embrace opportunities to grow the margin dollars I bank, this is what driving sales efficiency is all about. It’s what we have done with quilting and craft magazines and indeed all magazines since our complete relay last year.
Given that our magazine range is the only point of difference we have as a retail channel, I urge more newsagents to take more interest in magazines. Growth is achievable as we are seeing here.
Mark, you wrote
“There are newsagents who comment here about margin, saying they prefer to focus on better margin product”
I’ve made similar comments here in the past. Not too sure if thats a preference or a reaction to poor treatment.
But I do agree that magazines are important and better sales can be achieved if the mind is clear and not clouded by thuggery.
Leon I think we need to be ‘Zen’ about magazines – in the zone for us and our future rather than worried about whether we are effortlessly gliding or struggling to remain upright.
Okay not my best comment mixing metaphors and all that but I hope it makes the point.
magazines are our most important point of difference today and sales growth is achievable.
Craft magazine purchasers are prepared to pay premium prices for great free covermount gifts relevant to their hobby. In the recession-ravaged UK market which I know well, year on year unit sales in the craft sector are down 2% but retail sales value is up 36% as publishers add value and increase cover prices by $2.00+. Practical Publishing is the No1 publisher in that market and it is a trend we are leading in Australia too with Simply Cards (12.95) and Cardmaking In Easy Steps (17.95). More profit all round and these consumers are multiple product purchasers too.
Rob welcome and thanks for joining the conversation. The more information newsagents receive about titles and sales drivers the better.
Love those high dollar craft mags with extra value ! My older ladies are dropping the cheap weeklies in droves, and making up for it with a purchase that feels like a real treat, plus fills in their (underemployed) day.