A blog on issues affecting Australia's newsagents, media and small business generally. More ...

Month: September 2020

That the economy is in recession does not have to mean doom and gloom

News platforms are bursting with stories about the recession Australia is now in. There are the headline stories based on the numbers and the personal stories of people losing their businesses and homes.

It is easy to get drawn into the doom and gloom news cycle. Unfortunately, news outlets think bad news drives clicks, and, so, they run the stories.

In our local communities, I think it is helpful that we act against feeding the doom and gloom stories. It is helpful that we do nothing to negatively impact consumer confidence.

My suggestion is: focus on what has been working for you in 2020, present as business as usual, bring in new product, change displays, host in-store events, be active on social media, play happy music, run competitions, be a good local retailer.

It is these types of activities that distance your business from negative perceptions relating to the recession.

Yes, this is a tough time. Worrying about it being a tough time will not help you move through it.

You can’t control that there is a recession.

You can control what your business does. That has to be the focus.

I have been through two recessions in business. Each was different. This time around it is expected to be worse because of the global Covid situation. The reality is that for many newsagents, there are elements of Covid that help your businesses. In many newsagencies, revenue is up in 2020 so far. This is good news.

Be attuned to opportunity. Also, keep a low profile as no one likes a bragger during times of adversity.

Sure, the economy is in recession. I’m sure that in plenty of newsagency businesses there is plenty of good news.

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Newsagency opportunities

2021 year of the Ox 1oz gold coin out now and attracting interest

We are grateful for the opportunity to offer the just released 2021 $100 1oz Gold Proof Domed Coin – Lunar calendar – Year of the Ox from the Royal Australian Mint. This Lunar Year of the Ox 2021 $100 Gold Proof Domed Coin sells for $3,630.00. It is beautifully boxed and is appropriately stored in a locked cabinet, along with other collector coins from our Royal Australian Mint range.

Coin collectors are terrific customers. Newsagents have served them for decades as magazine customers. Now serving them with proof coins and collector items like this $100 gold domed coin is a real treat.

Can a newsagent sell a $3,630.00 coin? Yes, I think so.

The detail of this product is extraordinary.

We sold 100 of the Qantas centenary anniversary coin sets and they were priced at $180.00 each.

What I like about the products from the Mint is that they span entry level through to avid collector level. At the collector level, people will often purchase two or more of a new release. This is especially true for grandparent collectors who are purchasing for grandkids.

Coins are another category of expansion for engaged newsagents. Key to success is early access to embargoed release information as well as to insights that you can leverage for attracting shoppers you may otherwise not attract in your business. Because, after all, it is net new traffic that we are really after.

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newsagency marketing

A Sydney Morning Herald home delivery customer speaks out

Here is a note I received yesterday from a long term Sydney Morning Herald home delivery customer.

I found your details and wondered whether you could assist, or at least provide comments.  I don’t know how to write a blog on your website.

This was my Facebook rant last night and gives you all the details of this appalling lack of service since the  newsagency informed Mum they could no longer deliver her daily paper …

I am so angry, and before I begin my long rant, (apologies), I would really welcome any like experiences or feedback

Mum has subscribed to the SMH daily for 30 years.  Earlier this year her local newsagent advised that home deliveries had been outsourced.  Since then, Mum has never received a paper to her door (she lives in a Villa complex of 10).  She is 85 and has had a stroke (sorry Mum for the disclosure 😘).  She can’t walk down the driveway which in Winter is icy.  The papers are sometimes wrapped, unwrapped (and wet), shoved on the letterboxes or in bushes, and last week found right across the road.  We have heard all excuses “the truck is too big” (joke) “the driveway too narrow” (joke) … the drivers’ “aren’t insured” (wrong).  They are entering common property, as confirmed by Strata.  Mum is not getting the service she pays for.  We have battled for 8 months to get answers, and a resolution, and today I wrote to The Editor and cc’d one of the numerous people we have spoken to.  No, I have not heard from Lisa Davies the Editor, but I had a call straight away from the Team Leader who said they cannot “control or make” drivers deliver to the door.  What exactly then is “home delivery”?  How is this different from Coles Online or Amazon?  These drivers from National Delivery Service (NDS) are just lazy bastards … and no, you can’t speak to NDS.  I even registered with them pretending I was interested in being a delivery driver!  Yep, no response.

How sad that in her later years she can’t start the day with her paper as has been her routine for years and years.

Mum & I will somehow continue the battle … Just call us “Erin” … Erin Brokovich.  😡

Mark, I would welcome your feedback.

This plea for help is indicative of how broken newspaper home delivery has become. In an effort to drive down costs newspaper publishers pay less and less for what is a premium service, and customers suffer.

Note – I removed identifying details of the customer and the newsagent.

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Newspaper distribution

Considerations before taking your business online

Yesterday, I participated in a 45 minute discussion for my POS software company, which also develops websites for retailers, about taking a retail business online, including the consideration of what to sell and more. While the discussion was not retail channel specific, plenty of what was discussed would be of interest to newsagents considering a website:

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Newsagency management

Full face card pitch in there newsagency

We have rolled out a full-face card pitch in one of my stores as part of a card refresh designed to make card shopping easier and to leverage the full design of each card rather than only the top 25% of the design.

We have taken our time with implementation, having looked at plenty of card retailers overseas over the last 2 years and completing a comprehensive dive into sales data.

As part of the move we reduced overall SKUs but anticipate growth in sales due to improved shopability and broad range refresh. We have pursued a reduction in SKUs considering pocket turn and other data points. The long history of greeting card supply into Australia has been such that it has fed, and too often continues to feed, inefficiency.

The acrylic fixtures overlay traditional card fixtures, enabling the change to be implemented without he need for a shopfitter.

The changes have been in place for two weeks and early indications are terrific.

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Greeting Cards

People are loving this Father’s Day card

People are loving this card. A couple of times now people have bought it as their second card, their fun card bought for a reaction. Indeed, the second card purchase is a trend for Mother’s Day, too. Not a huge trend, but a trend nevertheless.

We have pitched the card at the counter, where it is easily purchased on impulse.

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Greeting Cards

NZ news outlet sees no significant traffic decline in leaving Facebook

One argument put forward by the government in support of their proposal to have Facebook and Google pay some but not all Australian news outlets has been challenges.

The Giant Stuff news and information business in New Zealand quit Facebook in July.

On ABC radio’s AM this morning information was shared indicating that the traffic impact for the news site has been minimal.

While I have shared my opinions here and here, I’ll note, again, that I think the code proposed by the government is poor policy that is being propagated to appease supporters. It is not the wise action of a free market economy. It is technically ignorant of how the platforms work and the control the publishers have.

The publishers set to benefit from the code, if there is a benefit, have broken business models. I doubt that any mon ey that may flow from implementing the code would support good journalism in Australia. That, in my view, is up to individual Australians, through the choices we make.

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Media disruption

Jeff Jarvis on the proposal that Google / Facebook pay for news

Jeff Jarvis is a journalism professor and an expert on news and, in particular, digital platforms of news. His tweets, in a thread, just now are interesting and timely in my opinion. be sure to read the full thread:

As I have noted already, the proposed move by the government is foolish, ill-conceived and pandering to media giants. They choose where their content goes. They have demonstrated the value of journalism in all their giveaways and discount deals on platforms line the Apple News platform.

You can see how ridiculous the move is by excluding the ABC and SBS.

The proposal by the government is dressed as supporting journalism but, I suspect, it has nothing to do with this.

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Media disruption

Evidence of changes to how and where we work – opportunities for regional newsagents

Further to my post last week about opportunities for regional newsagents, there have been several media reports over the last few days about businesses making these moves, long term committing to work from home and quitting plans for city based office facilities.

A quick search will deliver access to more reports like these.

Businesses, especially office based businesses, are looking at how and where their people work. This is where opportunities for newsagents emerge.

I do think there is a new niche of products and services regional newsagents can offer to facilitate relevance in these emerging opportunities.

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Social responsibility
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