The traditional Aussie newsagency model is undergoing a significant transformation. Relying solely on legacy categories like newspapers, lotteries, and parcel collection is often no longer enough to ensure long-term sustainability.
To thrive in today’s market, newsagents must look toward strategic product diversification that focuses on higher margins and faster stock turn.
newsXpress supports this transition by providing access to over 130 preferred suppliers, many of whom offer exclusive products not available to other newsagents.
One of the most successful examples of diversification within the group is the coin and collectables category.
newsXpress is the only marketing group in Australia operating in this lucrative space, partnering exclusively with institutions like the Royal Australian Mint, The Perth Mint, and the New Zealand Mint. This relationship is worth millions of dollars annually to members. We have seen retailers go from selling no coins to generating 50,000 dollars in annual revenue from this category alone.
Strategic diversification is about identifying products that attract new demographics and encourage higher spending per visit.
Mint products, for instance, have proven successful in attracting traditional shoppers, such as those visiting for newspapers or lotteries, while also drawing in a dedicated community of collectors. This cross-pollination of customer types is essential for growing the overall value of the business.
We have plenty more examples beyond mint coins.
The process of diversification also involves decluttering and rationalising existing inventory. By assessing business data and identifying low-hanging fruit, retailers can move away from slow-moving lines and reinvest that capital into trending products that deliver a better return on investment. This methodical approach to stock management ensures that every square metre of floor space is contributing to the bottom line.
Furthermore, newsXpress helps members navigate these changes by providing evidence-based advice and shop floor tactical training. Whether it is securing first-to-market opportunities or managing a craze while it is still fresh, we work to ensure our members are ahead of the curve. By embracing a diverse product mix, newsagents can transform their shops into vibrant retail destinations that are more profitable to own and more enjoyable to run every day.
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newsXpress is a marketing group that supports small local independent retailers to thrive. Find out more at help@newsxpress.co
