A blog on issues affecting Australia's newsagents, media and small business generally. More ...

Handling failed products

fhn_quitting.JPGWhen a product fails we move it, cut price and move it again in an effort to quit with dignity.  We are testing the space backing onto our photocopier for the newspaper mugs and end of line alpla bears.  While the stock is old, it is clean and the display looks fresh.

I have seen plenty of newsagencies with stock which is years old and showing no signs of moving.  This begs for the stock to be left.  As we play more in the gift space we are bound to have lines we need to quit.  We have learnt to not be too attached to margin.  If something is not working we know we need to get out ASAP.  Hopefully this space near the copier will work well for this.

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