The future of the Australian newsagency channel rests in the hands of 2,800+ local newsagents, local retailers owning and running these local shops. The choices newsagents make within the four walls of their shops determine the prosperity – or otherwise – of the broader channel.
The decisions that will carry the most weight revolve around the products newsagents choose to stock, the narrative newsagents weave for their businesses, and how they approach selling.
newsXpress helps newsagents in each of these areas. What we offer is a unique set of services personalised to each member business, to help then thrive!
Before we delve deeper, let’s be clear about where the future of the Australian newsagency won’t be found. It won’t reside in the traditional staples of newspapers, magazines, lotteries, general convenience items, tobacco, inexpensive gifts, budget toys, or an overwhelming display of impulse-buy products. Competing with discount variety stores is not the path forward.
The future isn’t something that will be delivered on a platter by suppliers. Despite their historical role in shaping our channel, print media businesses, in particular, appear to have little vested interest in our long-term viability.
Across Australia we are already witnessing fellow newsagents successfully tapping into premium and unique markets. They are focusing less on being the cheapest and more on astute margin management. The enduring wisdom of “find a need and fill it” remains powerfully relevant as we evolve our local businesses.
When we talk about products, consider venturing beyond the typical newsagency fare. Imagine stocking clothing, exquisite gifts priced at $300.00 and upwards, carefully curated books (distinct from remaindered stock), quality cookware, and sought-after collectibles that will draw customers from afar. These are likely products that traditional suppliers haven’t considered for our channel.
Familiar categories like stationery, greeting cards, and other staples will continue to play a part. Their ongoing success, however, will hinge on your discerning selection and intelligent pricing strategies that account for the cost of carrying them. For instance, simply selling stationery to someone who needs it is one thing; catering to someone who truly appreciates and loves stationery presents a far more valuable opportunity, in my opinion.
Remember, there are no prescribed limits or rules. What you choose to sell is dictated by your own creativity and how you present it to your customers.
By narrative, we refer to the underlying story of your business – the compelling “why” that resonates with potential customers. If you simply operate as a shopkeeper placing items on shelves, you’re missing a crucial element. As a retailer committed to a narrative, you enable customers to understand your business’s values, enjoy being within your space, and desire your offerings because the narrative fosters trust and connection.
You cultivate this narrative through your product selection, your in-store merchandising, your social media presence, your website content, and your own personal engagement with your products and customers.
The key to a successful narrative is its capacity to evolve alongside you, the passage of time, and the changing needs of your local community.
The “how” of selling encompasses when and where you sell. In today’s retail landscape, having a robust online presence is no longer optional – it’s essential. If you’re not selling online, you’re operating with a significant blind spot, unaware of the opportunities you’re missing.
Now, if this sounds like a radical departure from the norm, it’s not intended to be. We are currently immersed in an era of experiential retail, where customers seek to feel and experience their purchases. This is where your narrative truly shines. A basic writing pad in a generic newsagency is just that – a writing pad. The very same writing pad in a store with a compelling narrative can command greater attention and a higher price point.
The more your physical shop and your online presence can evoke emotion and create a memorable experience, the greater your chances of success.
Ultimately, the future of the Australian newsagency lies in our collective ability to be sharp, engaged, and innovative. Each of you has the power to transform your individual shop into a thriving local business. It’s unlikely that this will result in a uniform channel, but that’s perfectly acceptable. What truly matters is that you build a locally powerful business that also attracts online shoppers who connect with your unique offering.
To those who choose not to act, who resist change, we wish you all the best. The era of the traditional newsagency is drawing to a close. Time will inevitably catch up, leading to a contraction in the number of newsagency rooftops. While the exact figure is uncertain, current trends suggest a potential loss of 150 to 200 businesses in the next year alone.
For those eager to embrace change, know that there is a supportive community within the channel ready to assist where we can. Reach out. Together, we can ensure the continued relevance and success of our vital local retail businesses, regardless of the diversity of our products and services or what we choose to call ourselves.
Footnote: Some may argue that the traditional “newsagency” name is no longer relevant. While the core product of “news” may have diminished in significance, the name itself matters less than the actual experience your shop offers. It’s akin to the saying, “a picture is worth a thousand words.” What your shop demonstrates itself to be is far more impactful than its name. That being said, Australian newsagencies, being inherently local businesses, are arguably best served by a name that holds local resonance, rather than an impersonal national brand.
Second footnote: Reflecting on what has been written, we acknowledge that a definitive prediction has not been offered. This is because a singular “channel” future is unlikely, and there’s no way to foresee the individual choices each business will make.