This past weekend provided an excellent example how we can drive business growth. On Saturday, I was thrilled to see people visiting our newsagency to purchase a Father’s Day card add a Smurf figurine to their basket. This extended each sale by at least $7.95. At a 50% margin that’s a nice extension. I was delighted to see this.
Add to these impulse purchases shoppers who visit specifically looking for Smurf products thanks to good word of mouth and we have a limited time niche delivering good revenue for our newsagency.
Most newsagencies have good base traffic for newspapers, magazines, greeting cards and lotteries. We need to tactically leverage this by engaging in opportunities … like the Smurfs. The best opportunities are those which are current – ideally promoted on TV or connected with a high profile movie.
The Smurf movie opens on September 15. Those who remember The Smurfs from years ago know about the movie as does a whole new market – kids discovering the Smurfs for the first time. This is why the figurines and other items are an easy sales pitch for us.
I have found that the best opportunities for leveraging good base traffic are those outside what would be expected from a newsagency.
Mark,
I havnt seen anything on this product or the movie. Probabaly because bum up and head down.
Who are your suppliers? Are they regular suppliers and do they have a website.
I asked the same question when Smurfs were earlier mentioned. We have to belong to one of the groups like Nextra or something to buy them. I can’t afford to belong to these groups so no info for me.
Wally, We got our stock through newsXpress a few months ago. Cold be a bit late not to get into it.
Carol, membership pays for itself and them some through rebates, deals and opportunities.
So why do we not get details on joining so we know what it can offer us. I just got told how many $ it would cost to belong and I did not have that money to spare. It would have meant me not eating.
I think Mark tries to keep this blog seperate and unattached to his other roles Carol so that there’s less of a bias seen towards marketing a specific brand.
Have a look at the blogroll/Links to the right of this and there’s a link to Newsxpress’ page with contacts to their marketing people etc.
BTW, I’m not a member of NewsXpress either (I’m unaligned to any marketing group) and do wonder whether it could return the benefits necessary to recoup the costs plus a “return on investment” so to speak.
Ben Kay (0419 678 754) can provide the business case for newsXpress and show how it easily pays for itself through deals and opportunities. he can put you in touch with newsagents who will attest to the return on investment.
Thanks Mark
We are to small to join the group.
Our centre is a suburban convenience location and does not enable us to have large amounts of stock.
Even the “deals” at the GNS show would have meant stock supplies for 6months or more. We dont have space to store or capital to allow us large inventory investment. We look for small niche products in small amounts. The customers are soon satchurated with a particular item and sales stop. To much of a good product still wont sell. We note the success you have in the large shopping centres where your shops are but find we are unable to duplicate those in our own store we believe because of much lower foot traffic. Thanks again for your valuable information which we constantly note and try to put into action.
Wally, with newsXpress size is not important. The key is being a newsagent who wants to grow and evolve.
Wally, some of the best newsXpress stores are exactly how you have just described your store. You dont have to be big or even be in a shopping centre. As Mark said….he can show you plenty of examples of this.
Cheers
Al
Wally, in your situation there are advantages to being part of a group. We are newsXpressers and frequently share stock with other newsXpressers when the need arises. This opens doors and now and again somethiong yopu would not have given a go is a run away success and you end up looking for more stock and often the group can help here as well. Size doesn’t matter nearly as much as attitude and the endeavour to be the best you can, groups such as newsXpress give strength and support in this instance.