It was inevitable, the news that Polaroid would get out of the instant film business. Disruption of traditional (old) media and mediums continues apace. Polaroid could see that instant film was a dead medium and cut it loose to protect the company.
Newsagents will face similar decisions – getting out of dying segments of their businesses to protect (or set free) the broader business. We need to be unafraid of these challenges. We need to make our assessment, having considered information from suppliers which may be affected.
Already there are opportunities for newsagents to make important decisions about products they cut. I continue to see many stationery items on shelves which do not sell. In one case recently 25% of the stationery investment was in items which had not sold in six months. Quit, quit, quit!
In stationery, magazines, newspapers and even greeting cards, we need to be prepared to make tough decisions and stick by them – as we pursue the newsagency of the future.