This week, we are focussing on fundamental aspects of newsagency businesses that can significantly impact both bottom line and customer satisfaction. By returning to these basics, we can differentiate ourselves from competitors and re-establish our dominance.
Today, we’ll examine stationery. Newsagencies were once the undisputed leaders in this category in Australia. While external factors played a role, it’s essential to acknowledge our own part in relinquishing some of that market share.
Given the current landscape, it’s time to look forward and explore opportunities for stationery growth. To achieve this,consider the following:
- Unique Selling Proposition (USP): What sets your stationery offering apart? Clearly define your USP as it’s crucial for moving forward.
- Range: Ensure your stationery selection aligns with your target market. Whether you focus on convenience or specialise in school supplies, tailor your range accordingly.
- Pricing: Conduct a competitive analysis and adjust your prices accordingly. Many newsagents can command higher prices without negatively impacting sales.
- Customer Reach: Stationery is often overlooked. Enhance its visibility through prominent displays, including in-store promotions and cross-merchandising with complementary products.
- Expanded Offerings: Increase sales by offering catalogue orders and delivery services. Build relationships with local businesses to create a unique customer experience.
- Exceptional Customer Service: Go the extra mile by assisting customers in finding products and demonstrating a willingness to help, even if you don’t have what they’re looking for.
- Innovative Thinking: Expand your stationery selection beyond traditional items. Explore fashion-related stationery and promote it as a gift option.
By implementing these strategies and demonstrating strong leadership, newsagents can revitalise their stationery sections,boost sales, and increase customer engagement. This series from newsXpress aims to encourage a fresh perspective on often-overlooked areas of your business.
By offering this free advice, newsXpress is seeking to add value to the newsagency community more broadly, not just its 200 member stores. It’s part of a broader giving back approach to serving the Australian Newsagency community.
Key to success in stationery lies in understanding your customer – not only your local customer but anyone you can reach online. By considering their needs and preferences, you can refine your product range, pricing strategy, and marketing efforts accordingly. Continuous evaluation and adaptation are essential to staying ahead of the competition and ensuring the longevity of your stationery section.
