Modern retail success depends on more than just intuition. In the current Aussie newsagency environment, the ability to interpret business data is a critical skill that separates thriving shops from those that are struggling.
At newsXpress, we believe that understanding the truth of your situation begins with a deep dive into your own sales figures and performance metrics.
Effective data analysis allows you to identify what we call the low-hanging fruit. These are the immediate opportunities for improvement that might otherwise go unnoticed. For example, by running a dead stock report, you can identify items that have not moved in six months or more. Clearing this inventory through targeted discounting frees up both valuable floor space and cash flow that can be reinvested into higher-margin categories.
newsXpress helps Aussie newsagents thrive.
We assist our members in looking at their businesses from multiple angles. This includes assessing the gross profit percentage contribution of different departments compared to the floor space they occupy. It also involves calculating revenue per rostered hour to ensure your labour costs are sustainable. When you have a clear picture of these metrics, you can make informed choices about where to expand and where to rationalise.
A whole-of-business approach to data also helps in reducing common retail mistakes. Instead of buying inventory based on supplier pressure or habit, you can make decisions supported by evidence. This shift in mindset leads to better stock turn and a higher return on investment. By moving away from a traditional model and using data to guide your path, you can ensure your business remains valuable and relevant in a changing market.
newsXpress is a marketing group serving around 200 Aussie newsagents.
We’re unique, not like any other group.
We’re not a franchise.
What you do in your business is up to you.
Our suggestions, curated for you based on your situation, are offered for you top consider.
There is no pressure.
We love helping local retailers thrive. Most of our members are in region al / rural Australia.
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newsXpress is a marketing group that supports small local independent retailers to thrive. Find out more at help@newsxpress.co
The post Harnessing Data to Provide Newsagents With Better Retail Decisions first appeared on newsXpress Blog.
