Run a comparison report comparing performance in your business from November 1, 2024 to December 9 2024 compared to the same dates in 2024. If your business is like I have seen from plenty of other businesses today you should be seeing:
- Card sales up 9%.
- Gift sales up 21%.
- Plush sales up 16%.
- Toy sales up 15%.
- Book sales up 12%.
- Stationery sales up 4%
- Magazine sales down 11%.
- Newspaper sales down 12%.
These are the average results from 20+ different businesses. All high street though, no shopping centre businesses. Mor regional and rural than in the city. The best news is in the top five numbers.
In each of the businesses from which I have drawn data, they have made a conscious decision to pursue growth in one or more parts of the business while, at the same time, at least maintaining decaying product categories (i.e. not actively harming them).
What is most interesting in the data is that in more than half the businesses the growth was achieved off a flat transaction count. These businesses are getting existing customers spending more.
My point is that there are newsagents growing their businesses, achieving results of which they can be proud, results that deliver a healthier P&L.
Data like this is easy to access. if you have the industry standard Tower newsagency software, use the Monthly Sales Comparison Report. It’s the benchmark report for this type of analysis. I love this report. In seconds you can have your results and compare where your business is at. It’s the report I use.
I know of newsagents who wait for their accountant to produce a report on business performance. I think that takes too long and is too expensive. You can run this report today and have in no time at all valuable information to guide more moves you can make in your shop. Waiting for a non-retailer to tell you how you’re doing is old-school and, usually, unhelpful.
Take a look at your numbers. If they differ considerably from what I have noted here, reach out. I’d be happy to take a look for you. I am keen to help newsagents run healthy and profitable retail businesses.
Our channel has come i9n for some negative reporting in the media this year. The best response we can have is to grow our businesses and, with this, flip the bird at ignorant reporters and media outlets.