Further to my post yesterday about licences, here is another example of the Wonder Woman licence working a treat at extending the appeal of the business. We have a wonder Woman costume for a dog, in our dog costume section. Customers love it. It’s a traffic generator, so I love it too. Products like this can help us appeal way beyond what people expect from our businesses.
The more we do this, the more we appeal outside what people expect of our businesses, the more we strengthen the appeal and value of ur businesses. This activity is vital in trading away from the newsagency shingle.
Kind of related to this, years ago we jumped deep into plush. Another person in the newsagency channel mocked this move. Now I notice they have quietly hopped into this. This financial year, the low price point everyday plush will be worth more than $80,000 in one of my businesses and high end plush, well a terrific value too.
My point is that what may look unusual or not a good fit can be if you work it and position it well with shoppers.
We are retailers after all. Retailers sell what their customers want.
“My view is that newsagency closures are avoidable regardless of location and availability of capital.” I think those in : areas of shrinking populations or next to closed factories or suffering under crappy landlords or blighted by public works will be reassured by your disparaging of their efforts.
No disparaging Colin. I have talked about the opportunities I see, not negative thoughts you think I apply.
I know of a newsagency in a shrinking town that is doing well at attracting revenue by being proactive about what the business sells and when shoppers can buy.
These are extraordinary times in our channel and in retail and have been for some years. They require extraordinary, honest, effort.