The New York Times has a sobering report about book sales in the US from the Book Expo America, the industry’s annual convention which ended Sunday in New York.
I found the report interesting on a couple of fronts: the evolving challenge of print and the reliance of the channel on mega brands – Dan Brown and Stephenie Meyer to name two. In the magazine space we are challenged by mega brands too, the top selling titles account for most of our sales.The opportunity newsagents have had for years is to focus on range. We have not done this well and now that it really matters we are losing out. I know people who will travel to a Borders for range of magazines instead of to their local newsagent.
Newsagents can embrace range and build a marketing campaign around this point of difference – if we are serious about our future in the magazine category.
Until the magazine delivery model is updated we cannot compete with channels that get to contol their supply levels, yesterday we recieved 28 copies of topgear when we sell 4 copies month in month out, this oversupply eats at my cashflow and profits and also takes up too much room on the shelves that should be used for other mags. Mag sales have declined because coles etc are picking the eyes out of the high turnover titles ie weeklies and fast selling monthlies and leaving the garbage for newsagents.