For years now magazine publishers and distributors have been working on a project to access sales data on a daily basis from newsagents. While suppliers have complained that lack of sales data is the cause for resolving core issues, few have actually taken the necessary steps to resolve the issues. With accurate sales data suppliers can more accurately supply product so the benefits are considerable. This cuts costs for newsagents and suppliers by reducing over supply and resolving undersupply. Suppliers can get accurate sales data if they choose. All they need to do is:
Compensate newsagents for accurate sales data. The sooner the newsagents providing accurate sales data make money from this the sooner many other newsagents will do what they need to do to provide similar data on time.
Rate the newsagent software suppliers. Recognise the providers of compliant software with a rating and a recommendation which directs newsagents to them compared to those companies which flout the standards.
Be public about IT companies letting the project down. For example, one competitor does not provide sales data through its software. It has a record of claiming its software is compliant when it is not. Suppliers, by their silence, let this competitor get away with this and this extends the resolution of the sales data mess.
Be clear on the industry benefits of sales data. Show newsagents what this looks and feels like.
While newsagents are not helping themselves in resolving the sales data mess, suppliers can take steps quickly to sort this out and have newsagents more fairly competing with the major retailers thanks to, finally, providing accurate sales data on time.
For newsagents to compete with supermarkets, petrol, convenience and coffee outlets they need to get smarter in managing data. This means they need to ensure that their IT suppliers adhere to industry standards. One company failing to meet standards lets the industry down. It is time for people to be silent about the cost of this to all newsagents.
If the newsagency channel continues to ignore this issue they will continue to miss out on the financial rewards of providing sales data and competing with the big guys on an even footing.