We continue to enjoy good success selling nail files at the counter of a couple of my newsagencies. Granted, these are cute looking fashion items, not your traditional nail file. They are an easy item to add to an existing purchase, often using up loose change. They are great for us in that they deliver a 50% margin. A nice add on to a newspaper or a magazine sale.
Too often newsagents clutter their counters with products which suppliers request be placed at the counter. Every item in such a prime location should be there because it is delivering the premium financial return befitting the premium nature of the space.
We give a new product a week. If there is sales movement, it stays. If there is no movement, it is either moved to a different counter location or elsewhere in the shop.
At the counter we have had tremendous success with: lip gloss, nail files, key rings, seasonal pens, novelty items, seasonal candy, branded stationery items being promoted in high rotation on TV and items which connect with news of the day – such as a shredder connecting with identity theft.
These are just some of the counter opportunities for newsagents. The keys are to have a crack … you will soon find what works for you. Don’t obsess about the ticket price. For example, something which sell for $1.00 and which has a 50% margin is great value if added to a newspaper sale. You are doubling your dollar margin (depending on your location and situation) for less than double the sale value.
Look at your counter from where your customer stands. Be critical about it. De-clutter – by taking EVERYTHING off and rebuilding.
Remember, you own the counter, you ought to control what is placed there.
The idea of putting items in these positions are to build baskets, average sales values and show your point of difference in your product range. You should always track the performance of the product you place in high value positions. This can be done using reports in your POS systems.
If an item is not working or is weakening then you should use the prime position for other offerings from your range.
In retailer you can check sales by using stock enquiry (ALT + T) and then click view sales history and provide the date range you wish to look at.