How much space do you suggest I allocate for magazines in the newsagency? This question came to me last week from someone establishing a new newsagency.
My standard answer today is that you need between 300 and 500 titles to offer a reasonable assortment today. The more accurate answer will depend on your situation. In regional locations, for example, the number would be higher, around 700.
In capital city shopping centre locations, like this photo that I took in one of my Westfield businesses Thursday last week, we are on the low side for range.
In this business, however, this space does well. It is rare we are asked for. title we don’t have. The sales declines in the store are not outside the channel average.
This store used to have three times as many titled two years ago. That space has been given over to higher GP lines such as gifts and collectibles, better traffic drivers than magazines.
Magazines do have their place and having a reasonable range to satisfy local demand is key.
The other question people ask is display. I like the fun face approach we have in this Westfield store. It is easily shopped. The full cover gets to sell the title. Titles can be ‘browsed’ without being picked up, which matters today.
I like placement on the back wall as browsing does not interrupt other shoppers, and it acts as a beacon – it can be seen from outside the shop.
Anyone establishing a new newsagency needs to make sure they do have space allocated for magazines and appropriate shelving for pitching product. While the margin is paltry, it is a category that has some value for the shingle.