The Government owned and protected Australia Post retail network released strong retail results in its annual report yesterday. While the newspapers today are running with the story of falling postal revenue, they miss out on the 50% growth in Western Union money transfer business, their flat but healthy bill payment business (170 million transactions) and the 8% growth in retail products. Much of this growth in retail products (including all philatelic merchandise, packaging, communications products, greeting cards, gifts, stationery and office products) was achieved through competition with newsagents. Australia Post operates 863 government owned stores which compete head to head with newsagents.
A few short years ago these stores sold stamps and postage specific products. Today around 65% of their retail space is taken up with items which newsagents have sold for over 100 years.
The government competing with small business in this way is appalling and makes a mockery of their small business policy.
Newsagents would be very happy with 8% retail products growth.