Some big retailers are predicting flat or declining sales through 2023 and into 2024 in the US and some here in Australia. There are forecast reports of comp (comparable) store sales, we tend to call these same store sales, of 3% to 5%.
The challenge is that journalists and news editors hear this and attach the downward forecast to all retailers.
We know plenty of independent retailers, including independent newsagents, who are forecasting growth over the same period. Know, not massive growth, but growth nevertheless.
In our own stores, we are planning for 5% growth and hoping for closer to 10%.
But more important than the sales revenue growth number is growth in business GP percentage achieved. Growing that several points is more important than revenue growth.
If you grew business GP% by, say, 3% and overall revenue by 1% the bottom line benefit to the business would be considerably magnified compared to no change in GP% and 1% revenue growth.
There are many growth opportunities in our channel, many opportunities for retail newsagents to achieve good growth in revenue and in gross profit percentage performance.
How do we achieve that?
Look at your current sales data, look for green shoots, indicators of opportunity for you. In a retail newsagency these are typically in cards, magazines and stationery. Sales in these departments can indicate opportunities outside of them, maybe in new areas for the business, better margin areas for the business.
We know of many retail newsagents where this approach of data lead range review and gross profile percentage growth is successful. It’s the newsXpress approach.
One of the consequences of Covid was that many shoppers tried local retail for the first time in years. We showed that we offered diversity in products and personal service. We can continue to leverage these differences. But we have to show rather than tell.
Big retail looks like big retail. Their displays tend to be blah and their differentiator tends to be price.
In local retail, displays that are more fun, appealing and enticing can work well. Back this with shop floor knowledge and genuine personal service and price is a secondary factor. people want to enjoy shopping. They want to walk out of the shop feeling good. That feeling is currency, it pushes pure price to a secondary consideration as value is felt in other ways.
Yes, there is pressure in the economy because of rising interest rates. There is still plenty of money around for what people want. Want is a big driver for spending. It’s the emotional purchase where you have good opportunity.
Especially as a skilled local retailer who is able to feed into the want.
The reality is that there will be more tough economic news and negative reports about retail. You can choose to watch that and worry, or you can create the retail experience that is an oasis of happiness, a place locals enjoy and are happy to spend. Every day, choices you make in your business determine this.
If you do what you’ve done every day for years, your results will be what you are used to. We think the Aussie newsagency channel can do much better than that.
newsXpress helps newsagents grow overall GP%, attract new shoppers and run more enjoyable shops.
newsXpress can help. Email or call: firstname.lastname@example.org 0400 331 055. we can show what you get for the $175 a month membership fee.
newsXpress Leven in Ulverstone Tasmania has transformed from a traditional local newsagency into a thriving gift destination for locals, tourists and people from outside of town who appreciate the range on offer and the service. Sharene and Wayne have transformed what was a traditional newsagency business from decades ago into this fresh and appealing shop. And, yes, this is a local newsagency …
When we read news articles about newsagency businesses they tend to be rooted in years gone by, and the photos accompanying such articles reflect businesses that look nothing like I am sharing here. It is frustrating in that our channel has many newsagency businesses embracing change and offering retail experiences outside of the traditional we read too often about.
newsXpress Leven is testament to the willingness of Sharene and Wayne to seek out and embrace change. It’s a newsagency for sure, but much much more than that.
One thing to especially notice about this business is the fitout. They have done this themselves. Brilliant!
We are grateful to offer the 2023 Tooth Fairy Kit from the Royal Australian Mint here at our website www.mintcoinshop.com.au.
This tooth fairy kit is a wonderful gift, a wonderful keepsake of losing a tooth and nurturing fantasy and fun for the family and the young one who has lost a tooth.
This 2023 tooth fairy kit continues a tradition and helps young families create new traditional
What we offer is the official 2023 Tooth Fairy Kit made here in Australia by the Royal Australian Mint.
This wonderful product has it all. The popular Tooth Fairy Kit for 2023 comes with the same great inclusions; special keepsake box, toothbrush, floating glitter pen and even a tooth chart. This year a brand new coin design that features a fairy playfully perched on top of a garden mushroom, fun and colourful new packaging all makes for a delightful gift for parents and grandparents to give to younger children that are about to lose their first tooth .
What a gift. What a collector piece. What memories to cherish.
Offering the 2023 Tooth Fairy Kit is a joyful thing for us as it helps us help so many families celebrate and be happy.
We are an authorised dealer for coins and products, like the 2023 Tooth Fairy Kit, from the Royal Australian Mint along with many newsXpress businesses located around Australia.
We love a bit of history and checked when the Tooth Fairy became a thing. The Tooth Fairy is a fantasy figure of course. It comes from Western and Western-influenced cultures.
The tradition or folklore is that when children lose one of their baby teeth, they should place it underneath their pillow or on their bedside table and the Tooth Fairy will visit while they sleep, replacing the lost tooth with a coin.
Of course, it’s up to parents how long the Tooth Fairy visits. Some stop after one tooth while others stop after all baby teeth.
The 2023 Tooth Fairy Kit is a gift to cherish. Perfect for families to buy as well as grand parents, aunts and uncles.
Here at the Mint Coin Shop, we pack and ship from Hawthorn in Victoria. We also offer click and collect. Our shipping pick up happens Monday, Wednesday and Friday.
If you want the 2023 Tooth Fairy Kit, we can help. we expect to have new stock arriving all through 2023.