Ignorant commentary on newsagents at Inside Retail
Stuart Bennie has penned an ignorantly incomplete article at Inside Retail about newsagency businesses.
Rather than write about newsagents who have reinvented their businesses and others who are reinventing their businesses, Bennie paints a picture of an old-style newsagency business, the kind that time forgot. Yes, these businesses will die. The thing is, many newsagents have moved on from this death wish model.
Bennie is not the first, nor will he be the last, to tell us that the sky is falling. It’s old news, news that many newsagents have responded to. I suspect articles like this are written reflecting research of some newsagents who have not seen or embraced change.
Bennie’s article misses other points:
- Many of us are growing magazine sales by focussing on special interest titles. And, we are exerting control over supply in a way bennie says we cannot.
- Our margin on phone cards is usually 40% or more and not cents like he suggests.
- Gift sales are skyrocketing, some newsagents are doing $300K a year and more – okay not everyone BUT those working on gifts are growing.
- Card sales, excellent margin, are growing to almost double-digit levels in many newsagencies.
- Toy sales are coming back to us. Some are at $60K and more
- Lottery products are financially rewarding if managed well.
There are many steps newsagents can take to build stronger and more valuable businesses. Many of these have been documented at this blog over the years. They all come down to us, each newsagent, being accountable for our situation and running our businesses with authority and in pursuit of profit.
It does not help when commentators go off half-cocked and tell us the sky is falling. Yes, it’s tough but there is good news there for those who look.















