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

Melbourne gift fair tips for retailers

The Melbourne gift fair kicks off today. Here are my tips for retailers shopping the fair. Others are welcome to add theirs.

  1. Have a budget. Stay within it.
  2. Have a buying plan, to ensure you are buying to the goals of the business.
  3. Remember that you are not your customer.
  4. Know that your buying is the first step to attracting new traffic to your business.
  5. Write on each order your delivery timing requirements.
  6. Write on each order any promises made, so the order fully documents your expectation. These could include exclusive territory, returns etc.
  7. Note on the order whether you accept backorders.
  8. Note on the order by which time the order is cancelled if they are unable to supply.
  9. Take a copy of every order placed. Use your phone camera.
  10. Ensure you know who the customer is for the products in question.
  11. Do not pay a deposit.
  12. Have rest breaks to ensure you are fresh and alert when shopping.

If you are going to the fair, have a great time!

16 likes
Newsagent suppliers

Promoting newsagents for lottery jackpots

I love this Facebook post from Kerrilyn Page at newsXpress Mount Morgan explaining the importance of buying lottery jackpot tickets through your local small business newsagency. It frames the challenge of online and the importance of shopping local well I think. I also love the optimism of dreaming for the win.

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Lotteries

Supplier distress

A wholesaler who supplies a range of small business retailers including newsagents with whom I have never had any contact or commercial engagement called me late last week to discuss debt collection challenges. They have been owed more than $20,000 by five different newsagency businesses, with which I have no connection, for more than four months.

The purpose of the call was to talk through options.

Theirs is a small family business, with annual turnover of around $350,000. They are not strong on credit checks. They prefer to take people at face value. The $20,000 in bad debts is hurting.

The goods were supplied on time and in good order. No credit claim has been made. They know from personal visits that in three of the shops the goods have been sold.

The supplier is contemplating taking action. however, they question the value of the time and cost investment for the relatively small amount in each case.

What was interesting from the supplier was the comment that they think in at least several cases, the newsagents involves moved from supplier to supplier, buying on credit knowing they could not pay and expecting they would not be pursued for relatively small levels of debt. I don’t know if this was the plan of the newsagents in question,. However, it is concerning that the supplier thinks it was.

This small business supplier I spoke with is distressed. They say others are too. This is not good news for our channel in terms of reputation and in terms of supplier strength.  We need successful suppliers. A reduction in number will only hurt newsagency businesses.

I write about this today because the supplier asked me to, to see what conversation follows.

16 likes
Ethics

Cute drives traffic and revenue for engaged retailers

We are in a period of glory days for all things cute. You only have to look at the shelves of K-Mart, Target, Typo, Smiggle and other retailers to see the value they place in cute products to drive traffic and revenue.

Cute comes in many sizes, shapes and colours, and in different products including cards, games, toys, gifts, wrap and more.

What is interesting abut cute is that people purchase cute items because they are cute, nor necessarily because they have an immediate need or because of product function. This is what makes cute products valuable.

The Guardian published an article in 2016 that explored the science of cute. A quick online search soon reveals pen ty of articles about cute and why cute products sell. While rooted in Asian, and, in particular, Japanese, culture, interest in cute is worldwide.

In a newsagency today you can leverage cute through existing product categories of cards, gifts, plush and toys, even more. To maximise the opportunity, however, you need to promote outside the business, to connect with people who might otherwise not visit the shop to see what you have to offer in the cuteness space.

Using a keyword analysis tool, I can see that there are in excess of 100,000 cute related searches online in Australia ever month. man of these searches relate to products. People are looking for cute products. This is a need we can serve in our evolving newsagency businesses. Sure, it is hard to play in a space that is not easily understood. However, there are groups, suppliers and others ho can help.

Take a moment and do your own research. be aware of what other retailers around you are selling. Test some products yourself. Test, too, a cute approach to product displays – there are many inspiring images online to guide you.

Testing is important because playing in the space of cuteness is all about playing in a way with products and opportunities outside what may be usual in your business. You are unlikely to have a relevant reference point. This is why I suggest playing, experimenting.

Cute is popular right now. Find ways to embrace not and you may tape into a new source of customers for your business and that has to be goal #1 right now.

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Management tip

Tatts pitches digital purchases

Here is a Facebook ad for Tatts that came up in my feed last night. While it mentions purchasing in-store, the only path from the ad is direct purchase from Tatts.

This marketing of online purchase is what I would do if I was Tatts. However, it is a reminder to retailers to not over-capitalise the lottery offer in the shop.

Lottery purchases are migrating online and Tatts will make this easier and more enticing in my opinion.

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Lotteries

Newspapers work well at the back of the newsagency

With the return from newspapers declining in most retail newsagencies, due to declining over the counter sales and higher space related operating costs, retail newsagents need to find ways to retain the category but at a lower cost.

One easy move is to place newspapers in less valuable space, usually at the back of the shop. While many newsagents have made this move, many have not. Indeed, there are plenty who retain the old-school large format newspaper display in prime position facing the entrance to the shop.

In an average size retail newsagency with rent of $60,000 a year you would need to sell 30+ newspapers a day to cover the cost of the space before you even consider labour and other costs.

Since newspaper sales are declining rather than increasing, it is important to consider options – hence my thoughts today on newspapers at the back of the shop.

The common objection to newspapers at the back of the shop is that customers will complain. My experience is one or two right, but most will not. This is especially true if they are easily found, can be browsed and are well displayed.

If you have not relocated newspapers yet, I suggest you try it with good signage, an easily shopped space and a plan to make good use of the front of store space you free up. In fact, this is crucial. If customers see you making good use of the only memorial (boat anchor) newspaper stand at the front of the shop they are more likely to support your move.

So, make a deliberate move, make it easy for shoppers, show through actions why you have made the move and ensure everyone on the team understands why.

Since you pay the rent, the wages and other costs, moves like this are 100% yours to make. If you feel this is the right move for you, do it without worrying too much abut the folk who may complain or have a negative opinion but will nit contribute to the operating costs of your business.

I appreciate some want newspapers at the front of the shop as they want to identify as being a traditional newsagency. That is 100% cool, as long as you make the decision that serves your needs and how you see hour business.

Oh, and here are ideas for the freed space: Toys, Homewares, Gifts, Fun, Retro and more … products through which you can pitch to new traffic.

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newsagency of the future

Nostalgia activity products can help us find new traffic for the newsagency

Shoppers are loving the re-emergence of games and toys from yesteryear. While they are popular with grandparents for sure, they are also popular with other generations, including millennials.

Take this skipping rope, it is easy to pitch it as a nostalgia gift or a quirky fun gift for a work colleague. It is well packaged for gift giving, making our pitch in-store easier. The Ridleys brand does this nostalgia play well, it is a brand to trust and leverage.

As retailers, we can facilitate this through ranging and placement as well as through our writing on social media where we can provide appropriate context for thinks like old-style skipping rope. We can also facilitate engagement though in-stoe and out of store playing. We can easily pitch fun and this is vital in competitive retail today.

Nostalgia activity products can help us attract new shoppers if we pitch them outside our businesses. For me, that is key. Everything I look at I contemplate through consideration of what new traffic it could find.

The Ridleys brand has its heart where we in newsagency retail today need it. Check out this from their website:

Start with a healthy dose of nostalgia and vintage charm. Add a cool contemporary twist. And a great big dollop of fun. That’s Ridley’s Games all over. A happy blast from the past, when toys were proper toys.

Since we started out in 2008, we’ve been putting smiles on the faces of young and old alike. We’ve resurrected old school classics and created our own unique compendium of games, puzzles, trivia and novelties.

We’ve got plenty of exciting ideas up our sleeves to spark imaginations, banish boredom and rekindle the joy of childhood. And that’s the Ridley’s Games magical formula in a nutshell…

A world where having fun never gets old!

I like it when I can find a brand to which I can relate and which offers product depth that enables a strong story to be told in-store. I’ve been leveraging the Ridleys opportunity for years.

5 likes
Newsagency management

Trump on newspapers

Of course, the tweet is not about papers but in response to pressure he feels on a range of fronts.

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Newspapers

Squishies doing better than fidget spinners in the newsagency

Squishies have been performing well for months. While sales to regular shoppers are excellent, their attraction of new traffic is even better.

This high-margin category is already outperforming fidget spinners in terms of full year bottom-line value to the business.

What you see in the lease line display is low in stock weight. Squishies turn fast: 4+ times in two months.

The display attracts kids, who pull in parents. The typical basket has two squishies and several other items from the business. This is where there is terrific value on the category for the business.

I also like that squishies fit with our broader toy and games pitch, enabling us to even better serve those shoppers.

I expect the opportunity with squishies to continue to Christmas and at least early into the 2019 holiday season. It is the direct imported products that are performing best for us as our range is competitive with Smiggle, K-Mart, Target and others in range and price.

This post is about more than squishies. It is about being opportunistic, early to engage with a trend, sourcing outside slower supplier channels, and, promoting widely outside the business to leverage the new traffic opportunities.

This is retail today – playing outside tradition, leveraging high margin and reaching out for new customers who might otherwise pass the business by.

Squishies are easy to dismiss as a cheap toy. In my experience and the experience of retailers who have been in this space for over a year, they are much more than a toy. They are a genuine opportunity for our businesses.

Footnote: to any trolls planning to comment here to seek to distract from the insights shared and the optimism of the opportunity, go on, knock yourselves out. The efforts three or four people are going to in comments here to distract from positive posts is extraordinary. You can see the strength off their concision by their anonymity.

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Gifts

Shop local data attracts kudos

Staff on the road for my newsagency software company Tower Systems have been provided a branded t-shirt with this image on the back. The reaction has been terrific, with people commenting positively about the data shared.

I had the infographic designed as an alternative to the a-frames I see used by small business retailers. I figured that facts could be leveraged to pitch the importance of small businesses in our economy.

Politicians only appear interested in small businesses at election time and event then their interest feels, to me at least, ignorant.

The small business community in Australia is important and valuable. I think we need to embrace every opportunity possible to pitch the facts of this.

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Small Business

Lottoland’s Tuesday jackpot looks very much like OzLotto

Check out Tuesday Jackpot from Lottoland. As a correspondent pointed out to me, this betting product looks and feels like OzLotto. Here is what they said:

Just wanted to tell you about Lottoland’s newest lottery, the “Tuesday Jackpot” (https://www.lottoland.com.au/tuejackpot)
It looks ridiculously similar to the Oz Lotto. You know – similar logo, you pick 7 numbers from 1-45, the same odds and drawn at the same time as shown here (https://www.lottoland.com.au/tuejackpot/help). The only differences are that it has a minimum jackpot of $8 million and it costs $2/line.
I thought your viewers might be interested to see how Lottoland is clearly trying to get around the betting ban on domestic lotteries.

See for yourself, here are the details from the Lottoland pitch:

Cost per Game & How to Bet on Tuesday Jackpot

Betting on Tuesday Jackpot only costs just $2 per standard game.

Pick 7 numbers from 1 to 45. Each Tuesday night, 7 regular and 2 supplementary numbers are drawn from the Swiss Loto Express. Match all 7 regular winning numbers to hit the jackpot. Check our TUE Jackpot FAQ for more info.

The current jackpot isn’t big enough? Just use Lottoland®’s special Double Jackpot feature at the top of the bet slip to bet for double the jackpot amount!

Don’t want to share the jackpot? The NumberShield option protects your Division 1 winnings – just activate this feature for selected fields or for your entire bet slip.

Never Miss a Jackpot with Subscriptions

A way to bet on Tuesday Jackpot with your favourite numbers for upcoming draws is to setup a subscription. Your bets will automatically renew for all the upcoming draws until you decide to cancel. No need to put in your numbers for every draw plus you won’t miss a big jackpot!

Bet on Tuesday Jackpot with the Lottoland App

With the official Lottoland Australia App you can bet on the lottery, check results on the go and gain access to even more promotions and discounts. Download the Lottoland App for iPhone or Android today!

Tuesday Jackpot System Bet Prices

System Bets allow you to pick more than the regular 7 numbers, providing you with exponential odds of winning. Refer to our magazine article for more information about System Bets.

System Bets for the TUE Jackpot start at $11.60. For a full list of all System Bets please refer to our TUE Jackpot FAQ page.

Lottoland is clearly not going anywhere. It is developing products and promoting them widely, in pursuit of a profitable future in Australia.

3 likes
Competition

Big media news: Fairfax and Nine announce plans to merge

Here is the ASX announcement:

MERGER OF NINE ENTERTAINMENT AND FAIRFAX MEDIA

The recommended transaction:

  • –  Creates Australia’s largest integrated media player
  • –  Enhances position with agencies and advertisers in a consolidating environment
  • –  Enables optimisation of, and incremental investment in, content across FTA, BVOD, SVOD and digital
  • –  Offers data solutions at scale combined with premium content
  • –  Combines Nine’s and Fairfax’s proven brand building capabilities to accelerate Domain’s growth profile

26 July 2018: Nine Entertainment Co. Holdings Limited (Nine) (ASX:NEC) and Fairfax Media Limited (Fairfax) (ASX:FXJ) are pleased to announce that the companies have entered into a Scheme Implementation Agreement under which the companies will merge to establish Nine as one of Australia’s leading independent media companies (Proposed Transaction). The Proposed Transaction will, subject to required approvals, be implemented by Nine acquiring all Fairfax shares under a Scheme of Arrangement (Scheme).

Following completion of the Proposed Transaction, Nine shareholders will own 51.1% of the combined entity with Fairfax shareholders owning the remaining 48.9%. The combined business will be led by Nine’s current Chief Executive Officer, Hugh Marks. Three current Fairfax Directors will be invited to join the Board of the combined business, which will be chaired by Nine Chairman, Peter Costello and include two further current Nine directors.

The combined business will include Nine’s free-to-air television network, a portfolio of high growth digital businesses, including Domain, Stan and 9Now, as well as Fairfax’s mastheads and radio interests through Macquarie Media.

Under the Proposed Transaction, Fairfax shareholders will receive consideration comprising:

  •   0.3627 Nine shares for each Fairfax share held (Scrip Consideration)
  •   $0.025 cash consideration per Fairfax Share (Cash Consideration) together, Aggregate Consideration.

    The Aggregate Consideration implies a:

  •   21.9% premium to Fairfax’s closing price on 25 July 2018 of $0.770
  •   22.6% premium to Fairfax’s one month VWAP to 25 July 2018 of $0.766

    The Directors of Fairfax will unanimously recommend that Fairfax shareholders vote in favour of the Scheme in the absence of a superior proposal and subject to an independent expert concluding that the Proposed Transaction is in the best interest of Fairfax shareholders.

    Commenting on the Proposed Transaction, Nine’s Chairman Peter Costello said: “Both Nine and Fairfax have played an important role in shaping the Australian media landscape over many years. The combination of our businesses and our people best positions us to deliver new opportunities and innovations for our shareholders, staff and all Australians in the years ahead.”

    Fairfax’s Chairman Nick Falloon commented: “The Fairfax Board has carefully considered the Proposed Transaction and believes it represents compelling value for Fairfax shareholders. The structure of the Proposed Transaction provides an exciting opportunity for our shareholders to maintain their exposure to Fairfax’s growing businesses whilst also participating in the combination benefits with Nine.”

 PAGE 1

For personal use only

The merger is expected to deliver annualised pro-forma cost savings of at least $50m which will be fully implemented over two years. The Proposed Transaction, on a pro forma basis, reflecting the full benefit of the cost savings, is expected to be earnings per share neutral for Nine shareholders, prior to any consolidation adjustments.

Importantly, the combination unlocks the potential for significant value creation by combining the content, brands, audience reach and data across the respective businesses, including majority owned group companies Domain and Macquarie Media. After completing the Proposed Transaction, Nine will review the scope and breadth of the combined business, to align with its strategic objectives and its digital future.

Nine Chief Executive Officer Hugh Marks commented: “Nine’s strong operating momentum has allowed us to invest in the future of our business through each of 9Now, Digital Publishing and of course, Stan. This merger with Fairfax will add another dimension, creating a unique, all-platform, media business that will reach more than half of Australia each day through television, online, print and radio.

For our audiences and employees, this means we will continue to be able to invest in premium local content across news, sport, entertainment and lifestyle. For our agency partners and advertisers, we will provide an expanded marketing platform with even greater advertising solutions underpinned by a significantly enhanced data proposition. For our shareholders, the merged business will generate an increasing percentage of its earnings from high growth digital businesses that provide a compelling opportunity to generate both incremental value and cash flow into the future.”

Fairfax Chief Executive Officer Greg Hywood said: “The Proposed Transaction for Fairfax reflects the success of Fairfax’s transformation strategy which has created value for shareholders through targeted investment in high growth businesses, such as Domain and Stan, and prudent management of our media assets. The combination with Nine provides an exciting opportunity to continue to drive incremental value well into the future.”

“We are confident that the strength of the combined management team and staff will ensure the continuation of our quality journalism.”

For the year to June 2018, Nine is expecting to report Group EBITDA at the upper end of the previously announced range of $250-260m, and to declare a second half dividend of $0.05 per share, fully franked. Fairfax is expecting to report Group operating EBITDA of $272–275m which is in line with analysts’ consensus, and to declare a second half dividend of $0.018 per share (franked at $0.0083 per share). In both cases, these declared dividends will not be affected by the Proposed Transaction.

Scheme Implementation Agreement (SIA)

Fairfax and Nine have entered into the attached SIA, which contains the customary terms and conditions on which Fairfax and Nine will now implement the merger. The SIA includes a number of customary clauses, and is subject to conditions precedent including Fairfax Shareholder approval, court approval and no regulatory intervention.

Timetable and next steps

Fairfax shareholders do not need to take any action in relation to the Proposed Transaction at this stage. A Scheme Booklet containing information in relation to the Proposed Transaction, reasons for the Fairfax Directors’ recommendation, an Independent Expert’s Report and details of the Scheme will be sent to shareholders in the coming weeks.

It is anticipated that the Proposed Transaction will complete before the end of this calendar year.

Nine is being advised by Jefferies as financial adviser, and Ashurst as legal counsel.

Fairfax is being advised by Macquarie Capital as financial adviser, and King & Wood Mallesons as legal counsel.

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Media disruption

More pen options help us sell more pens

For some newsagents, the future of stationery is when we stop pitching pens, pencils and other stationery lines as stationery and start pitching pens, pencils and other stationery lines as quirky gifts, gifts for all sorts of occasions. I mean pens, pencils and other stationery lines purchased specifically for this purpose, different to what you have in the stationery aisle today.

This can help us sell to people beyond the stationery shopper as it is stationery not sold as stationery.

It is exactly what Typo, Smiggle and even Kikki.k to an extent do. We can do it.

With more gift suppliers additions stationery related items to their product mix in Australia, more retailers see this as an option. It has been a trend at overseas fairs for several years and has taken a wile to achieve wider acceptance here from suppliers.

I mention this today as in the pen and pencil space these items are a bridge item, they bridge between traditional stationery and gift and I figured that may interest newsagents looking to do this, newsagents confronted by challenges with traditional stationery sales and wondering about tradition steps.

If you are coming to the Melbourne gift fair, keep a look out for stationery themed gifts as I expect more suppliers to offer these.

In today’s marketplace, the best customers for pens and those not being them for traditional function.

5 likes
Stationery

Don’t deny yourself revenue and new traffic

Talking with a newsagent on the weekend they commented that they could not sell a particular item in their shop as their population was the wrong demographic for it.

I was talking with them because they asked for help dealing with being in a regional location with challenges. In the conversation we explored a range of options and each was not suitable to them for different reasons.

The main concern expressed to me in the call was that their locals would not buy this or that.

I hear this often, a clear statement that locals would not buy certain items.

The only way to find out if locals will buy something, within reason, is to try it, or to at least investigate it throughly.

Investigating is what I did with the newsagent I spoke with in relation to one product category. It is a category I now well and for which I have excellent online sales data. I was able to tell the newsagent that from in their town $450.00 worth of the items had been purchased through one website in the last two months and that if I expand the reach to within an hour of their business the amount passes $1,500.00.

The newsagent was shocked. The evidence resulted in them asking questions and wondering what else locals buy that they think they would not buy.

My core point here is – don’t assume what locals will buy, as doing this could deny you certain revenue and certain new traffic for the business. Don’t contain your perspective of what works and what will work to only what you know from the past.

You can do this by working with others, talking with people outside your area, those with online experiences and other insights that could get you stepping outside what has been usual in your product mix. If you know people at the local post office that could be a good step as their insights into p-arcel delivery is often fascinating.

Tradition is out the window in retail today, especially newsagency retail. Stick with tradition and you stick with the traditional performance. Maybe traditional performance is okay for your business. If so, terrific! If not, do something.

I have written about this today with consent of the newsagent I talked to, even though I have not identified them.

9 likes
Newsagency challenges

Lottery betting businesses form a new association

As reported last week at CalvinAyre.com, lottery being sites have formed a new trade association to educate (lobby) regulators. This is an interesting move. Here is the report in full. It is important lottery retailers read this to understand that the fight will continue.

Online lottery betting operators have formed a new umbrella group to defend their business model from overzealous gaming regulators and protectionist lottery monopolies.

The European Lotto Betting Association (ELBA) is a new trade body comprised of Lottoland, Multilotto, myLotto24, Lottogo and Legacy8. ELBA spokesperson Lena Patel, myLotto24’s head of corporate affairs, told iGaming Business that the new body’s stated goal is to “dispel myths” about the lottery betting business.

Lottery betting operators are under fire in multiple markets, having been banned outright in Australialast month, while the UK has imposed new restrictions on operators’ ability to offer betting markets on non-UK EuroMillions lottery draws.

Patel noted that the “general tone and language about lottery betting in the media is negative,” despite the ELBA’s view that a lot of this talk “has not been backed up by evidence.” Patel said the “collective voice of the industry hasn’t been strong enough” and the ELBA aimed to inform the public that lottery betting operators are “legitimate” and “we do give back to good causes.”

The ELBA is currently drafting a code of conduct for existing and future members that will “provide definite levels of standards to make sure we’re in line with each other.” This code is expected to be released any day now.

Patel told eGaming Review that the ELBA wanted to “foster a closer working relationship with regulators” to ensure “coherent, strong, sustainable and fair” oversight of the lottery betting sector that doesn’t “unfairly penalize millions of customers who want to take part in lottery betting.”

For the time being, Patel says the ELBA is focusing its efforts on improving lottery betting’s image with European regulators, specifically those markets where “regulation is changing” and “parties with vested interests” are baying for lottery betting operators to be dragged to the woodshed.

The ELBA isn’t the first lottery betting group to attempt to fend off disaster. The Lotto Betting Group, whose ranks include Lottoland and Multilotto, has battled the UK government over its lottery betting restrictions.

Lottery retailers will have to choose who they support. If it is the regulator pure lottery games, then they will need to support ALNA to continue to lobby and work on their behalf as ALNA, like any association, can only be as strong as its members support it to be.

7 likes
Ethics

Marketing tip: visual merchandising for stationery

The best way for people to see your business and what you sell in a different light is to show them through your visual merchandising. Here are four inspiring examples from the many I saw last week.

You can choose to display products like a shopkeeper or a retailer. These examples are from retailers. They pitch a different, more engaged, more inspiring narrative than you would see from a shopkeeper.

6 likes
Management tip

The story of Lush underpaying staff is a reminder

The news this week of Such underpaying staff in their retail business going back to 2010 is a reminder of the importance of checking and cross checking payroll calculations and processes. Before the Lush story there were the reports abut the Rockpool payroll and entitlements issues and there in hospitality. Prior to that it was 7-Eleven.

My suggestion is that you get someone from outside the business who is not involved in managing your payroll or staff entitlement record keeping to do an audit of your calculations and your processes.

It would be better for you to find and resolve the issues than a regulator to force this on you as a result of a formal complaint.

5 likes
Newsagency management

Inspiring words from a newsagent talking about transformation

A newsagent recently shared with me a story about their experience talking at a local service club about their business. Here is the story, if their own words. At their request I am not identifying them or their business. This is inspiring…

Last night I was the keynote speaker at a service club in our regional city. I was asked to speak on my business as a “Newsagent”

I took them through a journey of the history of the newspapers in our state, their rise and the demise of some.

I took them through the journey of the family “newsagency” as it was, newspaper boys, home delivery, mail runs and retail store. I spoke deeply of the work involved behind the scenes of a distribution/retail “Newsagency”

I took them through the journey of the demise of delivery rounds, the amalgamation of rounds and the reasons for closures of some smaller “Newsagencies” in small towns.

I spoke of the distribution Newsagents who cover great territories and how these are the backbone now of paper deliveries in capital cities and large regional areas.

I spoke of the advent of supermarkets and service stations entering the retailing of magazines and newspapers.

I emphasised how “Newsagencies” large or small are still a core business in most cities and towns and this will never change but the structure of “Newsagencies” are changing to meet a  changing social world and shopping trends so you will see “Newsagencies” with a different look.

They were amazed when I talked about the massive number of magazine put aways we have. Over half of these titles never hit the shelves as they are of specialised interest to the customer and the topic range is immense. The modern “Newsagency” are magazine specialists in this way.

The point I want to make now:

From the questions I was asked and in general conversation afterwards people were amazed at what a “Newsageny” was all about and they were now putting our business in a different light and I just felt a rising respect for our core industry. I could feel this overwhelming respect for “Newsagencies” as a business coming through.

It was an eye opener to me how the business of a “Newsagency” was perceived in general even though we are a progressive store.

We somehow have to break the old Newsagency image shingle.

I am inspired more than ever to move forward in a changing world.

11 likes
newsagency of the future

Midtown Comics’ success with magazines

Midtown Comics is the destination comic business in New York. Each location is well laid out, with magazines the core offer. There are things they do that we could do even in our non special interest focussed magazine businesses. Here are photos from their store on Fulton Street, in the Financial District, where the common shopper is male, mid 30s to 40s and working in finance.

Their magazine wall is stunning. This photo captures less than half of it.

Note their magazine staff pick pitch. This is just like the card pitch I mentioned at the weekend.

I like that they show what is new this week, last week and two weeks earlier.

Their old issue collectors stock is tidy and well laid out.

They list release dates for plenty of titles.

The pitch to the counter is terrific and organ used, with impulse lines placed appropriately.

Their customer service is excellent with one person always on the shop floor answering questions but not getting in the way of the many who visit too browse and read.

Each time I visit a Midtown Comics I am impressed with the passion of the people working there, the layout of the shop and the overall focus of the specialty retail business. Every visit offers useful takeaways.

7 likes
magazines
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