As part of our end of month assessment of business performance we compare the performance of suppliers in certain departments. This works particularly well in gifts, magazines and cards if you have multiple suppliers in these departments. Pitting suppliers of like products can be instructive about the business as well as about supplier performance. It can bette inform business decisions.
My focus yesterday was to look at the difference in performance in the women’s weeklies segment of magazines given that this accounts for 21% of our magazine sales. The difference between the two distributors is considerable – well into double digits – one up and one down. It’s a significant result, a result which will drive two actions from us – researching why the 14% YOY decline for one and doing more of the same for the titles driving growth. What is odd is that titles from both distributors receive equal treatment.
When it comes to magazines we need growth across the whole department and not just one publisher or one distributor. Balanced growth it vital to our future.
I’d encourage newsagents to see if their software offers supplier comparison across trading periods. Check it out … you could be surprised with the results.
NOTE: In most newsagencies women’s weeklies: Woman’s Day, New Idea, That’s Life, Take 5, Famous, NW, Who and OK! account for more than 30% of sales. We are at 21% because of our focus on special interest and other areas of our magazine department. My view is that special interest and other shoppers will be more loyal than shippers purchasing weeklies.
I have only included a blurred report as the data for my store is not what this post is about.
I think one of the problems with many magazines is poor and repeated content. With the UK’s drought break wet summer my wife is telling that she is reading articles about what to use to avoid sunburn etc. that is just same old, same old and lacks relevance.