We were lucky to have stock of the 75th Anniversary of the Australian Signals Directorate – 50c Uncirculated coin 2022 released by the Royal Australian Mint.

It sold out quickly and while we’d like to have had more stock, having it helped us attract new shoppers. This is good because coin shoppers are habit based shoppers and they return, and they tend to purchase other items when in the shop. They are valuable customers.

Habit based shoppers are tremendously valuable in any retail setting as their habits offer an opportunity for predictability and it is this that helps us in our business planning.

In a typical newsagency, the key habit based shopper opportunities relate to the magazines (special interest and crossword are the two best for us), greeting cards (birthday is key here), stationery (home use tends to outperform office use) and, of course, lotteries.

So when we unlock a new habit based product opportunity we analyse the results and work on ways we can leverage it for broader success in the business.

This is where the mint coin products do work a treat. But it takes time and management. I have seen some newsagents get into this space and give up after a few months. Others have worked at it, tuned it, and after 6 or so months found a level of wonderful and valuable consistency.

Too often I see retailers take a step with a new product and toss it out if that one step does not fail.

As retailers we need to work our shops and the products in them. If something does hot work, we need to look at location and the support we have, or have not provided, to the product. We need to do our best to find shoppers, to cultivate them.

Now with this new coin from the Mint we were lucky because of excellent publicity around its release. It made it a dream-run product. But it does not always happen this way.

In London, like elsewhere, every second retail business has a sign up looking for staff. The Sainsbury’s approach is eye-catching, especially if you like a delicious looking slice of sponge. Interestingly, in the shop I saw the sign, they did not have a sponge like this for sale.

I have seen so many businesses pitching for employees. Most the signs were boring, nothing special. A few, though, were creative and enticing, like Sainsbury’s. Oh, and Leon, a chain coffee outlet. While their coffee is mediocre, like 80% or so of coffee outlets in the UK IMHO, their approach for recruiting is excellent.

Then, there was this one in the window of a pizza restaurant. In a bold and clear move, they advertise the wage rates:

If you are having trouble finding new staff, consider a different pitch on a sign in your window.

Looking at various rate offers for newsagents out there, here are the current best rates. If you know of any better, please comment.

• Visa / Mastercard: .70%
• eftpos: .35%
• Tap & save: .35%

Other factors that can play into the value equation are terminal rental, easy access to fast support, assistance in resolving chargebacks and regular rate reviews.

I am grateful to have been able to attend two wonderful and inspiring gift fairs in New York this week. I say grateful because of the innovative products on show, and that much of what I saw is available for supply to Australia.

While the git fairs in Australia are okay, if we want to innovate in our shops we need to see newer products, and products of=ther retailers are unlikely to stock.

NY Now was excellent and Shoppe Object was more maker / creator fresh. Both appealed to similar retailers, although some might do one show and not the other. They were a 15 minute car ride from one to the other.

Here’s a view of the floor of Shoppe Object.

I am especially interested in finding products not represented by larger wholesalers as it is this space that we find uniqueness in our marketplace, and that is valuable in retail and online today.