Retailers, newsagents especially, should read the report about JB Hi-Fi in the Australian Financial Review on Monday (pages 1 and 14). While our businesses are quite different to JB, there is relevance in their approach to the rough economic and retail conditions.
Newsagencies are diverse businesses and not enough of us are leveraging our diversity to power forward in the current climate. If we make each of our key product categories pop them we are better positioned. This is kind of what JB has done, not so much in categories but in how they win customers.
I also like the JB focus on the cost of doing business. They have done this by working on all operating costs from leases to wages to infrastructure.
I only buy my computer needs from JB , not ripped off Harvey anymore.