A colleague newsagent had a customer waiting for them when they opened the shop at 6am Monday this week. The customer has driven almost half an hour to be at the store at opening time to purchase an item priced at $349.00. They wanted to ensure they got the item.
So, by around 6:05am, the business had completed the $349.00 sale and racked up $175.00 in gross profit. That is more than the business will make from newspapers in the day and close to what they will make from magazines in the day. From one purchase.
What a terrific story on several fronts: that the customer was there at the opening of the shop, that they had driven half an hour and that they would tell others about their experience.
This is the newsagency of the future is, a retail business allowing specialist sought-after products to define the business more so than the shingle, a business being unafraid to stock items way outside what is usual for a ‘newsagency’.
Way too often newsagents tell me they cannot sell expensive items in their businesses. Most times I hear this the newsagent making the comment has not tried more expensive items, they have not created the story in-store to ensure success with ore expensive items.
My message today is that what we can sell in our businesses is way outside what we think we can sell.
I know of newsagency businesses that have closed because the owners have not experimented beyond the barriers they established themselves for their businesses.
I appreciate it is tough to make such a move as it means ditching being an agent, becoming a retailer and trying products about which you probably have little knowledge. All it would take is someone you have never seen in your shop visiting and spending hundreds of dollars on an item once for you to tear down your barriers and seek out more on these opportunities.
The newsagent who achieved the $349.00 sale on Monday did so on the back of a special event they ran on the weekend that attracted plenty of new shoppers, some people travelling two hours to be there.
Gone are the days of you thinking about your newsagency as serving a territory.
This is a new borderless world. Attracting shoppers starts with buying beyond what is traditional for the business.
There is growth out there for the taking.