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Newsagency management tip: worry less about competitors

I appreciate frustration newsagents and other small business retailers feel when they see products they have had success with make their way into a national chain or a nearby competitor.

In many cases this comes about because the supplier needs more volume than the independent retail channel can provide. Hence the move to mass or more independents.

Most key competitors of independents attract different destination traffic.

For you to make the most of what could be a growing product category, and or licence, you need to become the destination retailer in your area. This takes more than putting product on the shop floor. It involves being the expert, promoting outside the business, hosting events and giving people to place your store top of mind when they think of the product, category or license.

The easy approach is to complain about the actions of the supplier. The better approach is to deny the supplier this consideration by being better from the outset.

Competitors will always be there. Suppliers will always need to more more stock – usually because of manufacturer pressure.

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Management tip

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