We have ordered more diaries to cope with demand. The Collins Enviro and Kyoto ranges are particularly popular. Being the only outlet in a shopping centre with diaries results in good destination purchase traffic for us.
We developed a sales projection for February – March diary sales based on October – January sales. This is what tells me that there is an excellent opportunity for us. The bonus is the better margin we can achieve thanks to the current buy price.
Having a good range of diaries in stock right now is a financially rewarding point of difference for newsagents.
We use this end of season approach with boxed Christmas cards and calendars for equally rewarding customer traffic and margin success. While it won’t work for everyone, it is worth trying. The keys we find are range, good promotion on the dance floor and daily attention to the display.
Do you find that people already expect them to be discounted? We have a small amount of stock left and haven’t re-ordered as those that have come in looking for them are expecting whats left to be on sale?!?!?
B, Some do and some don’t. You will find that many newsagents are not yet discounting diaries.