Outside of lotteries and business stationery orders, what is the most expensive single item you have sold in your newsagency business?
I am asking because I was talking with a newsagent a couple of ays ago who said they could not sell any gifts over $20.00 and that is why hey only stock gifts up to a value of $20.00. I told them of another newsagent who told me that a year ago and new sells items priced at $350.00 each and more, and sells them?
So, what is the single most expensive item you have sold in your newsagency?
not single item but yesterday sold $400 worth of cushions in one transaction.
Currently have pieces up to and over the 600 mark.
Newsagency! gone are the days
I sold 2 Coca Cola stools during the week which were $100 each, I regularly sell between $200-300 worth of Pokemon collectables to single customers. I am currently selling some limited edition products that range from $100-500 with a 100% markup.
I had the same attitude 5 years ago but have been transitioning and am reaping the benefits.
Not only do these products increase your GP but they help to increase traditional products. The last 5 years my card sales have grown 5% year on year.
But to answer the question – my most expensive item was a $500 figurine.
This question has had me really thinking this morning……I have sold so many high end items…..maybe a $500.00 teddy bear or a $500 figurine set……..
I did once have in stock a $2500.00 juke box…..a real shame it didnt sell……looks terrible in my man cave at home…..LOL !!!!!
Our store fitout is made up of furniture which we sell so with our highest value furniture sale was $3000.
With regards to gifts would be an $800 replica model but sell pieces every week between $150-$300.
Giftware $199 for a glass flamingo, plush $950 for a beautiful bear.
Lots though over $20, I think $35-$100 is the new $20 price point for newsagencies.
$575 model kit , though biggest single basket transaction for a non lotto sale was $864 to a single customer who bought a large number of model kits. I sell lots of items in the $70 – $150 range. Thats why my average sale value for the month is sitting at $16.04 even with all the crappy $1.50 paper and other small value sales.
I’ve basically become half a hobby shop in what was my newsagency space. Makes me alot more gp per sale than magazines, lotto and news(toilet)papers. IF I’d had another 12 months before having had to do my lotto refit I dare say I wouldn’t have done it as the hobby business will have completely supplanted its income at the current growth rate by then.
PAUL,
tell me more about your hobbie sales.
what are they and what distributors do you buy them from.
have been thinking about this option for a while
We inherited a store with many gifts straddling all price ranges. Some higher priced items had been there for ever. The keys to selling higher value items are consistency in value and visual merchandising. We have eradicated under $10 items as they invariably lead to direct comparisons with on line and discounters. Price is not the driver us, quality and point of difference is. Buying 12’s and 24’s of $25+ items is far more rewarding than chasing one off sales of $250+. We stock and sell the high price items but in the grand scheme of things, they are not important.