Further to my post yesterday about what newsagents want from suppliers, here are some of the things supplier representatives have told me recently they would like from newsagents. Given how I collected this data there is no duplication. The list is in priority based on the number of suppliers asking for an item.
- Consistency of buying. Some suppliers say they cannot predict newsagent purchases whereas they can predict purchases from other channels.
- Payment on time. Several say newsagents pay, on average, 33% later than others.
- Communication. That newsagents tell them if they cannot pay on time instead of not ordering and buying similar products from another supplier.
- That newsagents use their own business data for buying decisions.
- That newsagents are more careful with money.
- Discipline. Some say newsagents will purchase a stand and put products from other suppliers in the stand.
- Straight talk. Several suppliers say it is frustrating when a newsagent says one thing to them and they hear from another that the newsagent actually thinks something else.
- Honouring contracts. That newsagents not sign contracts if they do not intend to stick to them.
- Courage. The more newsagents had courage to change their businesses.
- Standing up to bad practices. That newsagents actually stood up to magazine companies and others who treat them bad.
This list is the top ten. It covers almost all the points suppliers have mentioned to me they would wish from newsagents.
There was far more consistency among desires from suppliers from their newsagent relationships than from newsagents.
It seems to me that work is needed to bring the two groups together.
I was not going to post this here as I figured it would frustrate some but then I thought why not. The opinions are the opinions of suppliers. I think we each individually and collectively need to think about the list and what we could achieve by working on this. By working on this I do not mean agree – no, I mean consider and explore what life could look like if we address the list.
I would like to relate some of the issues Suppliers have with Newsagents with my comments (point 28) on what Newsagents wanted from suppliers, without mentioning Magazine companies(that will be hard!).
Suppliers point 1, 4, 5 and 8 are related issues for me and all are important to have a good 2 way relationship.
We buy by two main rules, we need to have space and we need to know it will sell. If we go outside these guidelines we take a risk with our money.
If an item sells then we will obviously buy it consistently, if it doesn’t sell we cannot buy more. Some Reps will tell you an item is selling well, even though we don’t think it will, but this may be only selling well initially into stores and not to the public. We would not be viable if we put in everything a Rep on commission wanted. Point 5 says that Newsagents need to be more careful with money, so to listen to the Supplier we shouldn’t buy if we are not 100% sure!
The option I would like is if an item won’t sell, the half price credits would help us move stock, give us confidence and option to make space quicker to try something else. If we can’t sell it the Suppliers warehouse is probably full of it too and we will help clear that.
Other channels consistency(chain stores, franchises, supermarkets etc) comes from monthly, quarterly, etc drops but they take all the popular items only, and we cannot then get more stock after an initial order. We are the bunnies that get stuck with items they won’t touch at full price.
We use our own Tower data to reorder, even if a Rep comes in, saves so much time, and money too once set up. Best thing ever invented!
Honouring contracts – well I could go into the unfair contracts with the M…companies(oops nearly said it), but if we are contracted to sell items, the contract must take into account the saleability and profitability of an item if we are to have stock dumped on us, so it comes back to what is best for our business, and if a Supplier gets the mix right we all can prosper.
besides magazines everything we sell in our store is our decision. There is no it will definitely sell . That is retail. Make it your responsibility on what stock you sell. some things work , others don’t sometimes it is how it is displayed or where it is displayed or sometimes its the price. Retail is a challenge but by taking full responsibility and control you will eventually get a better grasp on what will work, keep an open mind We sell $100.00 bears and are selling out of adult colouring books at the moment,things we would not have considered a couple of years ago