newsXpress Watergardens has been open almost two months and as with any new business plenty has changed in a short period of time. We are developing some valuable learnings from the new business, especially in the gifts, ink, magazine and stationery areas.
What has been most interesting is watching the development of our team as none (other than Ben Kay, Manager) had newsagency experience. While they have learnt the processes unique to our channel, we have learnt more from their diverse retail backgrounds. It is the breadth of retail experience which is helping us play outside the traditional newsagency parameters through unique displays and constant (daily) change.
We are also fascinated by the different dynamic in a newsagency which does not have lottery, bill payment or home delivery services. There is no doubt that not having these alters the retail dynamic: customers are less rushed, average spend higher and, we thing, browse time longer. There are no queues and no sense of rushing. We’re not sure if we like not having lottery products and the like, only time will tell.
One goal which is showing signs of working for us is what we would call margin balance. We are not as reliant as a traditional newsagency on higher volume lower margin products. I’ll save discussing details of what we are doing for another time.
If you are planning to visit the store and see what we’re experimenting with, please make direct contact with Ben.