Lottoland has been actively promoting a $100M jackpot for today. Leveraging the interest in the Melbourne Cup. It is challenging to gain confidence from their website that $100M is what you will actually win.
The Age today slices away at Lottoland.
The company does not tell us what this percentage is but only 16 per cent of its revenue is from this source. The vast majority of the revenue it recognises is actually just a reimbursement of costs incurred “generating stakes on behalf of EU Lotto Limited”.
In other words, the revenue number appears to be as synthetic as its lottery service.
Burn.
Coles supermarkets are ahead of many in small business retail in pitching reusable bags at the checkout. Take a look at thew photo and see the $2.00 bags they have placed at each checkout I the Coles outlets have seen in the last few days.
This is a smart move. It pitches the Coles business as concerned for the environment and on thee front foot in terms of reusable bags.
We can do this too thanks to plenty of suppliers offering access to low-cost quality reusable bags.
Select bags that look good, that appeal of what people like, place them at the counter, like Coles, and don’t seek to make too much money on them.
I think you will do better selling non-branded bags than branded as people will expect branded bags to come at no cost with purchases. I tapped to agree with that.
Here are numbers released by Facebook at their latest results announcement overnight. The numbers reinforce why the Facebook community is valuable for small business retailers to leverage.
• Daily active users (DAUs) – DAUs were 1.37 billion on average for September 2017, an increase of 16% year-over-year.
• Monthly active users (MAUs) – MAUs were 2.07 billion as of September 30, 2017, an increase of 16% year-over-year.
• Advertising revenue for three months ending September 30 jumped 49% YOY to $10.14b.
• Mobile advertising revenue – Mobile advertising revenue represented approximately 88% of advertising revenue for the third quarter of 2017, up from approximately 84% of advertising revenue in the third quarter of 2016.
• Capital expenditures – Capital expenditures for the third quarter of 2017 were $1.76b.
• Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $38.29b at the end of the third quarter of 2017.
• Headcount – Headcount was 23,165 as of September 30, 2017, an increase of 47% year-over-year.
[All figures US$]
Source: Mediaweek.
Any Christmas tree you have in your store should be decorated only with products you sell. And, yes, let people buy off the tree.
A well located shapable tree will drive impulse purchases of Christmas lines.
Oh, and the decorations on the tree do not need to be your usual decorations.
With more and more collectibles being sold in newsagencies, it is important that the value of the collectible is maintained. This means not writing prices on boxes and not using stickers with an adhesive that leaves a hard to remove residue.
People who purchase collectibles will stop purchasing fro you if the items they collect are damaged in a way that compromises the value of an item.
Yu have to think like them.
Plenty of newsagents who have applied to to offer Afterpay in their businesses have been rejected early in the application process.
Afterpay is rejecting these businesses on the basis they sell three product categories that are not permitted under its terms: gambling, tobacco and porn.
While I have made representations on the rejections of which I am aware and explained how problematic products can be fenced off from being paid for through Afterpay, the rejection remains on foot.
The terms established by Afterpay reflect their own business terms and, I suspect, terms imposed by financiers and others with a stake in the Afterpay business. Others in this lending space have similar terms.
Newsagency businesses that are not agents and not convenience focussed have a better chance of overcoming the Afterpay ban.
This all matters because of the commercial value to retailers on the buy now pay later model. Through my work with newsxpress I see plenty of business being won by newsXpress members selling items,ms today that shoppers will pay for over time. This is business that would have gone to other retailers.
There are stores winning click and collect business from shoppers repaired to drive an hour or so to pick up something paid for through Oxipay (like Afterpay), which they could have bought locally but COD or on LayBy.
Once a purchase decision has been made people often want the item(s) immediately. Hence the value of offering this buy now take it now pay later service. This is why the Afterpay rejection needs work.
The federal parliamentarian dual citizenship mess in which we have found ourselves here in Australia for months now shows how politicians treat themselves as elite, special, compared to common folk, the voters who vote them in.
While we in small business are highly regulated, subject to audit and penalised for even simple honest oversight, politicians refuse to permit themselves to be subject to the same.
While individuals are highly regulated, subject to audit and penalised for even simple honest oversight, politicians refuse to permit themselves to be subject to the same.
The moment the first dual citizenship question was raised, an ethical leader keen for democracy would have ordered an immediate full audit of the status of all politicians.
We are bereft of leadership for everyday Australians in Australia.
For months major party politicians have spun their wheels on the issue of dual citizenship and refused to agree to the type of audit that is regular for us in small business. For months they have said politicians should self regulate on this issue while at the same time imposing challenging and enforced regulation on small businesses and on individuals.
Shame on us for allowing your politicians to get away with them setting a standard for their own behaviour that is lower than standards they vote to impose on regular people.
The one party that has provided leadership on this issue is the Greens. From the outset they called for an audit. The are right. Yet their call has been mocked, especially by the government side of the parliament. This side of the parliament that is in control, in leadership, has eschewed leadership and instead engaged in puerile games.
They must think we are fools.
There ought be an audit of all federal politicians immediately, no matter the disruption or the cost.
Section 44 of the Constitution is not new. Its provision have been known for decades. It is easy for anyone to determine their status. Whether they do this comes down to how they see themselves compared to how they see the peril they serve.
We the people deserve honest leadership, leadership that is transparent and for all people, leadership that submits itself to the same standards and level of regulation as they impose on those they serve. We do not have this in Australia at the moment.
Every day, we see small business retailers squeezed by regulation, while at the same time, right now, seeing politicians refuse even basic regulation. This double standard has to stop, for the good of our country and democracy.
I received a call from the child of a newsagency owner recently wanting to know how to handle them not being paid appropriately.
Their parents pay them in cash for a full time role. No tax. No super. No leave entitlements.
While this seemed like a good idea at the time, now that they are considering a home loan they have no employment records on which to base the application.
Family members who are not shareholders need to be paid according to the award, m accurately and on the books.
We love the reaction to this social media post pitching a card. It’s the type of post I was referring to when I wrote abut Facebook recently. It connects emotionally with Facebook users.
The more we pitch our businesses with a look that is unexpected for a newsagency the more people will not identify use as a newsagency.
I was fortunate to visit a gallery last week showing items from recycled newspapers and magazines – hers and his bags, jewellery and clothing. This is one of the higher-end bags. The range is a significant advance on similar products I have seen.
We have the New Idea Sugar-Free Christmas one-shot off-location so more shoppers see it. We have it in an easily moved free standing unit, midway in the shop near cards and gifts. It taps into the high level of interest right now in all things sugar-free. It is the kind of title people will purchase on impulse – hence the off-location placement.
I love this video from then publisher of Scream. I’d like to see more publishers provide clever and entertaining videos that we can use.
Make your #Halloween go with a SCREEEAM! Get the Scream! and Misty Special from all good newsagents and @Tesco Extra stores now! pic.twitter.com/3gd9bF2UKB
— 2000 AD (@2000AD) October 31, 2017
I was drawn to this shop last week from outside in the mall because of their colour blocking of the stationery items. Thoughtful blocking of stock like this makes for an impactful display and this drives traffic. It is smart visual merchandising, which we can do.
I support the campaign by Oxfam calling on companies to pay their fair share of tax. While it is the campaign against online sales that is getting media attention, there are plenty of businesses, big businesses not paying their fair share of tax. News Corp. in Australia has come under fire on this as have others.
While the Oxfam campaign focusses on the impact on poor countries, Australia would be a better country if big businesses here paid their fare share of tax and if they did not receive the handouts they receive.
Small business does more heavy lifting as a percentage of turnover than big business. That needs to change. It will only change when we have politicians on all sides who stand up to big business.
Growth in the number of likes for your business Facebook page(s) is as important as growth in shopper traffic through your front door.
I see a direct correlation between the two, if you use Facebook well. Of course, if is the important word in that statement.
I have been actively using Facebook for business for many years. It is an excellent platform of reaching new customers and talking with existing customers. It is an important tool in business growth.
HOW DO YOU GET MORE LIKES ON FACEBOOK?
This is simple, provide good content, content that gives people what they come to Facebook for – entertainment, inspiration, a laugh. The more you do this the more your post will be liked and shared. The more likes and shoes the more people you reach.
Growth in likes for your page begins with your content. If your page likes are not growing, look at your content.
While you can ask people to like your Facebook page, resulting likes may not be as valuable as those who like your page of their own accord.
You can also buy likes. That, however, is a waste of money.
HOW DOES A BUSINESS USE FACEBOOK WELL?
Businesses that use Facebook well entertain. This can be by making people laugh, smile, feel emotional or be happy overall. They do it by being human, real and engaged. They do it by not trying to sell. They do it y not being commercial.
Photos are real, not studio shots, showing products in use more so than on the shelves. They show customers, happy customers.
They share something of themselves.
A newsagency uses Facebook well by not writing about products newsagents sell.
HOW DO MORE LIKES OF YOUR BUSINESS TRANSLATE INTO MORE SALES?
Someone engaging with your business Facebook page is similar to someone browsing your shop. Both can lead to sales.
People being on your page and engaging with your page brings them close to you and proximity = sales.
The more people who like your business Facebook page the more people you can pitch and offer to or reach out with an event or product announcement, them more people who will hear what you have to say.
Take Facebook seriously as a key business tool. The benefits are real and valuable.
Australians love charity connected Christmas cards.
I know because of the number of requests I see in0store and through social media. Some customers make card purchase decisions based on the charities being supported.
People want to support charities they know and trust.
While the ideal situation is that suppliers negotiate with charities and promote their support on products in-store, we, at the store level, can engage with charities ourselves and thereby pitch charity support where a supplier has not taken up the opportunity.
I think this is especially important at Christmas where so many boxed card packs have a charity message.
If your boxed cards do not have a city connection, consider partnering with a local charity. For a modest donation they may allow you to include a sticker on each product – promoting their work and your support for them. This is the key element in driving sales.
It does not always have to fall to your supplier to leverage a charity connection. Indeed, supporting a local charity can work particularly well. This can help you be on the front foot with other charities and community groups that ask for money or products as a donation. You can point to your current engagement and suggest they make a submission for next year.
It can be frustrating the number of requests for support. I see it from a retailer and from a supplier perspective., Almost daily there is a request for money or some other form of support, often without a commercial benefit.
The challenge is that if businesses are not profitable they are unable to support these requests. hence the importance of a commercial benefit. This is where supporting a local group or charity could work for a local business in that their members and supporters could be leveraged to support the business.
If you do have boxed Christmas cards offering national charity support, actively promote this in-store and on Facebook. relying on the note on the product to do it is not enough. Be active, talk about the charities supported, their work and your pride in being able to support them.
It is vital you make the most of any charity connection as early in a season as possible.
I noticed this promotion with 25,000 double movie passess on offer in a Coles supermarket on the weekend. It was being promoted on in-store radio as well.
This is a sweet deal. It is being managed by Loyalty Pacific News Corp and Coles. To get in on the deal the shopper needs to purchase using your FlyBys card.
Thinking about it, it is smart marketing as they are focussed on getting the supermarket shopper to add a newspaper, or two, to their basket.
Coles is an easy platform as all stores in their large national network are corporate owned, the whole organisation is KPI engaged and they have platforms for driving this – in-store radio, front of store displays and an integrated loyalty program.
This is your reminder that the publisher of Inside Out magazine has a deal with Coles that makes them look cheap and us look expensive. It’e been going on for years and while my posts here may not change the disrespectful deal, it at least informs newsagents.
Newsagents, and just about any small business retailer, often complain about rent. Many who do complain do not know their occupancy cost. This is the ratio of rent to product sales where product sales include agency commission.
Knowing your occupancy cost is key to every discussion you can have on rent.
Here is the advice I have provided previously on occupancy cost:
Occupancy cost: between 9% and 11% of revenue where revenue is product revenue plus commission from agency lines. Location and situation are a big factor in this benchmark. For example, a large shopping centre business will have a higher cost than a high street situation.
The front of your shop is key in stating the type of business you are and in encouraging those walking past in. These three photos show the first steps of transformation of country Victorian business.
A colleague has asked me to ask folks here how their sales have been for tonight’s superdraw, because their sales show now measurable bump.
Last year, my software company launched Booklist, a cloud based school booklist management solution designed to help newsagents compete with big businesses chasing school book list business. The goal was to provide newsagents a facility through which they can be seen by customers as more up to date and through which they can cut the time it takes to manage booklist orders.
Newsagents have had direct input into the 2018 school year release, which is now live.
Using the site, newsagents can:
In addition to the per year fee there is a small card processing fee, on a cost recovery basis, for payments made online.
Here are the enhancements guided by newsagents:
From this project it is clear there is no one approach to managing school book list sales. The developers sought to address the most common and commercially viable needs to provide a cost effective solution for newsagents.
To access the preview please follow these instructions.
Demo Store URL https://demo.booklist.com.au
Demo Schools https://demo.booklist.com.au/available-schools
Demo Store Backend Login
| Store Login | https://www.booklist.com.au/login |
| Store Username | demo |
| Store Password | booklist |
Any questions, email help@booklist.com.au
If my first job in a newsagency decades ago I packed school book orders. I remember the manual accounting process well. My hope is this cloud based facility encourages more newsagents back into this area newsagents once owned.
We are engaging in-store and out of store campaigns to attract earlier shopping for Christmas, especially for Christmas cards – both single and boxed.
We are using several messages in the campaign, designed to engage in a light way with the early shopping opportunity.
I like the monochrome collateral created by a team member as it sits well against colourful cards. Too often I see colourful collateral with cards, and it is lost.
The messaging in the campaign will change over the next four weeks for what we consider to be the early part of Christmas shopping. The messaging is consistent in-store and online, to leverage the value of repetition.
It is important we evolve how we pitch our businesses. People will pay less attention if our messaging does not change, because it will be the same old.
If you are worried Christmas this year will be the same as or worse than last year, you still have time to change your messaging, brings in new stock and create a different story to what you have done before.
Average results happen in businesses where they do average things.
