We are seeing new customers as a result of the latest Hot Ink promotion. We have had 20,000 flyers delivered to houses around our newsagencies and, as with past flyers, new customers come in seeking product advertised. These results are a reminder of the importance of promoting the business outside our four walls. While it helps to have a good value offer, any professional marketing based on brands and tied back to our newsagency would drive traffic.
Mark, I don’t sell ink in my store anymore. I found that the ink that people were asking for was the ink I didn’t have.
So due to space not being there I’ve totally removed it and put other products that are more profitable in place.
What range do you think say a small newsagency would have that would satisfy customer requests? How profitable would say a one metre square area dedicated to ink be?
Michael I have just over 2 metres of slatwall and it accounts for 30% of total stationery department sales. Top brands. Top sellers from those top brands. Mark
What are your most popular types sold?
Michael, this is a difficult question because this information represents the IP of newsXpress based on considerable research. I am sure that the right questions to a wholesaler could get you started. Mark
Thank you Mark for being helpful.
Micheal, start with the lines in the flyer
are there ink wholesalers who offer electronic invoicing
Michael,
I would start with the Ink people are asking for. along with the top brands.
Michael, follow the link in my blog post and look at the brochure. It’s great guidance. Mark
What’s the profit margin on Ink?
Michale it depends how you buy but anything from 20% to 35%. Mark
Again, this is part of the new newsagent model which probably will always need tuning. Good stuff Mark and stuff the government owned post offices, office superstores and the Supermarkets. Follow the yellow brick road.
Brand Marketing is this correct?.
Derek, it is interesting comparing the Hot Ink prices to the latest Post Office prices. On all but a few we are better and margin is good too. Focusing on brands is key.
Thanks for your help guys.
Seeing I have two square metres of stock that haven’t moved for a year but we hold it because we “should” have it, I think I will take the plunge.
Just one last question to all (I hope), what do I do with the cartridges when they become obsolete?
Discount it Michael. The key is to buy carefully and often.
If it still doesn’t sell or I can’t give it away do I write it off as a loss?
Michael
Not trying to be funny, do you have ebay?….
I’ve thought about that, it might work well seeing sometimes I’ve needed something “obselete” and could only find it on ebay.