We have booked more than $500 in revenue every day for the last seven days between when we closed the night before and opening the next morning. These are online sales. On three days, it was more than $1,000 in revenue.
Gross profit percentage for the products is, 50%.
There is no retain penance space cost as online uses existing retail space that is required anyway.
The labour cost is minimal with it being accounted through everyday roster management at the store.
While some purchases are click and collect, the majority ship to people who live hours, sometimes days, away.
I know that my shop is not alone in our channel achieving these numbers and more.
We are not yet where we know we can be. We think that, with little investment, we can easily double the results of this online business.
It is essential that every newsagency business has an online outlet and that this is not represented as an online newsagency. Those having the most success online play outside the confines, assumptions and history related to the channel.
Online revenue is there for the harvesting. Sure, it is hard work, but it can be done on a minimal budget. The most important investments are creativity and strategy.
There is what I’d describe as a dopamine hit when I open emails in the morning and see the online sales from overnight.
I am looking forward to starting my website next week. It has taken a while to work out what to sell and to get a name I like.
Michael, it’s important to take time to get those 2 things right. I always say to retailers starting the online journey, treat it like a start-up and to an online copy of your retail shop.