Thursday last week, September 7, at 8:30 in the morning, most newsXpress stores had a line of shoppers, people on the phone and people online.
The majority were new shoppers engaging with the business for the first time.
They were there because one of the newsXpress preferred suppliers promoted newsXpress stores to their massive (huge) email database.
Thursday last week was release day for several coins from the Royal Australian Mint, a partner of newsXpress.
While every shop sold out quickly, plenty of the first time shoppers bought other things, including coins released earlier in the year. A typical shop did an extra $4,000 that day.
Around 75% of the time, coin shoppers purchase other products. They are valuable shoppers to attract, more efficient per visit. Basket depth is prized by retailers as are basket value and margin dollars banked.
One of the items released last Thursday, a $375.00 set, Wass the best seller in part because only 1,000 were made and they had to be split between overseas outlets, the Mint shop, coin dealers, and other retailers, like newsXpress stores. This coin is currently fetching close to $900 on eBay. No wonder it was popular.
The $5 colour frosted World Heritage coin, priced at $30 and in the bottom right corner of the photo, is currently fetching around $300 on eBay.
The key thing that happened Thursday beyond the sales themselves was the new shopper traffic. New shopper traffic is essential for the health of any retail business. It is vital for newsagencies with some tent-pole product categories transitioning from physical retail.
There are ways to leverage vertical new shopper traffic – specific product category driven new shopper traffic. This is where retailers can maximise value from such opportunities – even when such new shopper visits are one-off visits.
I’ve heard some in our channel downplay coins as a valuable category. Such comments are typically made by people who don’t have access to them, or have not tried them.
Thursday last week demonstrated the value. Engagement Friday, Saturday and even Sunday has reinforced it with hundreds of dollars of coin gift products selling each day to shoppers who discovered us in this category because of the promotion of Thursday’s release.
Now, here’s the pitch. remember, I an a Director of newsXpress.
newsXpress works hard to help its members attract new shoppers. We pitch products and back this with in-store advice, social media assets, partner support help selling online.
If you want to attract new shoppers to your newsagency, consider newsXpress. It’s easy to make many times for the $225 a month membership fee. Click here for our latest information document or email our team for more information at: help@newsxpress.com.au.