We have had an extraordinary January thanks to the January is Jigsaw month promotion from newsXpress.
Not only have unit sales been excellent but the gross profit – 62.5% – has helped drive higher overall gross profit performance for the business.
The promotion has attracted new traffic and leveraged impulse purchases from people entering the business to purchase other items.
The excellent result has been achieved through thoughtful buying, out of store marketing and continuously fresh in-store promotion.
Whereas two years ago we did not sell jigsaws, today it is a important product category for us, something for which we have become known.
Since we refuse to engage in the race to the bottom that is Back to School, we are glad to have a promotion that is blue ocean, something no one else near is is doing. The results are well worth it: new traffic, high margin, popular.
Newsagents who ask how they can grow their businesses, how they can confront the challenges we sell elsewhere in the newsagency model, ought to look at opportunities like this, opportunities that are left-field, non-traditional. With careful buying, good displays and limited external marketing you can create success for a category you are not known for, from a category newsagencies are not known for.
Ask yourself – what am I doing today that is different for my business and for my type of business. If your answer is nothing them you are on a downhill slide to lower margin and less traffic. Seriously. It is that black and white.
Now, in 2016, more than ever before, you have to innovate. Not just in one part of your business but in many. You have to try completely new products through which you can pitch a new voice and attract new shoppers. You have to do this with commitment. And once you have done it you have to do it again and again.
We are in an era where success in small and independent retail comes from many many small steps. There is no one big thing.
This terrific success we have with jigsaws will be repeated but there will be more new things, more new products and opportunities through which we redefine the business through the next phase. This is the world today, continuous change. There is no destination. And that is something to love about these times.