80 newsXpress retailers participated in the launch of the $2 coin Anniversary set release with the Royal Australian Mint. The $235.00 collection sold out in under a day.
Total sales = $1,010,500.
80 stores participated in the opportunity. While some took way more than others, the smallest did $10,000 in sales and achieved close to $3,500 in GP. There were newsXpress stores with shoppers queued out the front from 4am. The phones rang hot and emails poured in. While the traffic spike was challenging, the easy revenue was wonderful.
All of this for no risk, and the invoice for stock will not be due until February 2024.
The actual value of the release is greater given what else shoppers buying the coin set purchased and how many of those will return to the now discovered newsXpress businesses.
This is a terrific good news story, and example of a new revenue stream for newsagents brought to the channel by newsXpress.
This latest coin drop is one of many in 2023 from which participating newsXpress members have benefited in terms of revenue, new in-store shopper traffic generation and online sales for those with websites.
newsXpress is sourcing for its members not only coins from the Royal Australian Mint but also Perth Mint, NZ Mint and the UK Mint. Coin collectors, especially those in regional and rural Australia, are loving easier access to mint coin releases.
Coin collectors are wonderful customers to attract. They are loyal, and they purchase other items.
newsXpress is a marketing group that helps newsagents transform their businesses to be more relevant in-store and online serving shoppers today, to attract new shoppers and to run lean.
Nothing newsXpress pitches is mandatory. As you can see from the success with this latest coin release, it is easy for newsXpress members to profit well from opportunities newsXpress brings to the table. This is what a good newsagency marketing group offers.
While newsXpress works with traditional newsagency suppliers, the majority of its supplier relationships are outside what has been traditional for the channel and outside what other newsagency groups offer.
The 2024 calendar is already filling with con releases and other shopper-attracting opportunities for newsXpress members. The goal is simple: to help local newsXpress members run more enjoyable and valuable businesses.
Disclosure: I am a director of newsXpress.