I checked out the latest incarnation of mag nation, the specialty magazine shop today. This store is in Auckland, where the journey began for the business, but in a different location. The model now is pared back a bit but still focussed on magazines. They have less ancillary product and fewer magazines. I am surprised they do not serve coffee as the area of this store is perfect for coffee.
For those wondering about the model and how they make it work, subscriptions are a key part, as is online. Indeed, the shop feels like a key driver of traffic for online.
Mark, how many titles do you think they range in this store? Doesn’t look to be many with 25% of the wall space looking like greeting cards.
Bill the photo is deceptive. Around 70% of retail space is taken up with magazines. Cards are only in the front left window.
It amazes me how much publicity this group of stores get. How many is there now?
Four I think Amanda. I think it is because they are perceived as offering a fresh approach. The reality is they are challenged in the magazine space and this is why they have not grown as they expected.
So much fuss for four stores.
I visited the one in inner-city Melbourne two years ago and not a single person purchased a magazine during the 30minutes I sat there and watched. They sold a couple of coffees and a book. Piles and piles of magazines.
It was the fanciest library I have been to.