Guest blog by Barry Allaway, Magazine lover and Managing Director of WWMD.
A secret to increased retail footfall… If you could create anything for your retail outlet, what would it be? I wouldn’t be surprised if increased footfall made it to your shortlist. After all, if you can convince more people to enter your shop, you’ll benefit through increased sales and profits. But how can you tempt more customers into your store, without spending a lot of cash?
Stocking specialist magazines is a strategy to increase footfall that works!
Interestingly, stocking interest-specific magazines is one footfall increasing strategy THAT WORKS.
I’ve recently published an eBook on just this topic. (I’ll reveal how to get your hands on a FREE copy at the end of this article). But in the meantime, keep reading and I’ll reveal some of the most important reasons why magazines could increase your footfall – I think you’ll be surprised…
Magazines boost footfall at almost zero cost
I’ve been working in the magazine industry for over 30 years.
So if you’re reading this blog, unconvinced that magazines could boost your footfall, I wouldn’t be surprised. You see, I frequently have this very same conversation with independent retailers. And I can see where you’re coming from. After all, “We’re just talking about magazines, aren’t we?” We’re not talking about a big footfall-boosting initiative that has a massive marketing spend to back it up…
But that’s one of the really unique things about using interest-specific magazines to boost your footfall.
You see, the cost of stocking magazines is stacked in your favour.
That’s because magazine publishers WANT retailers like you, to stock their products. After all, potential readers for magazines related to your niche, visit your store every day. And because magazines are a popular impulse buy, if a potential customer can flick through a physical copy, the chances of them buying that magazine increase.
The publishers and magazine distributers (like my business, WWMD) know this. Therefore, we make it very easy for retailers like you to start stocking and profiting from magazine sales.
Risk free opportunity to increase footfall – that must be worth a try!
This is why stocking magazines is RISK-FREE.
When you stock magazines, you only pay for the covers you actually sell. Any covers that remain unsold are simply returned to your distributor for a full credit.
Tell me, what other product can you stock (and profit from) on such lucrative sale or return terms?
But how do magazines increase retail footfall?
So now we’ve established that stocking magazines is risk-free, let’s explore HOW magazines can increase your footfall. There are three ways in particular:
- Hugely visual
Glossy magazine covers, packed with teaser headlines (and even free gifts) are designed to attract attention.
This means if you display your interest-specific magazines in a location where potential customers can see them, their eye will be instantly drawn. In turn, they’ll be tempted to take a closer look. And if your display rack is visible to shoppers walking by, you could find magazines become a tipping point that draws people into your store (who had no intention of entering before).
- A destination product
Interest-specific magazines are closely aligned to your customers’ hobbies and interests. Let’s say you run a craft shop. Did you know there are over 40 titles in this specialist niche? And whilst some titles may be available at the local supermarket, these destinations won’t be able to stock the wide range of crafting titles that you could.
And once customers know they can get their favourite title from you, what’s the likelihood they’ll pop in to buy the latest issue, especially when they can buy their other hobby essentials at the same time.
In addition, publishers create each magazine to proactively sell the next.
For example, there’s usually a “What’s coming?” section positioned somewhere inside. This whets readers’ appetites and gets them interested, and even excited, about the next edition. So when that next issue is published, they’ll head back to your store to pick it up.
In addition, some of the bigger magazines even advertise the latest issue on TV and other media. And if you’re stocking these magazines, you can piggyback on this promotional activity and make more sales.
- Regular footfall
Here’s where magazines become especially interesting.
As you know, magazines are published on a regular basis – usually weekly or monthly. What this means is once people become regular readers, it’s very likely they’ll visit your store to pick up the latest issue. In turn, they become regular visitors. And if your shop is full of products that appeal to their specialist interest, what’s the likelihood of them popping something else into their basket, along with their favourite read?
So you see, not only can magazines boost the numbers of potential shoppers that enter your retail outlet, they can also influence the sales you make. In fact, research shows that magazines can help increase your average basket spend by up to 25%. What difference could that make to your bottom line?
Could magazines really benefit my retail outlet?
In the UK there are over 3,200 magazines for sale – covering a huge variety of niche and specialist subjects. There’s everything from craft to angling, music to camping, and motoring to cycling. In fact, I can almost guarantee that however specific your retail outlet is, there will be a selection of titles that will be perfect for your audience.
Here are some stats to prove my point…
85% of adults regularly buy magazines – and 52% of shoppers pick up a read EVERY WEEK. That’s half your customers. 80 million magazines are sold in the UK every month (that’s 2,600 magazines a minute). Those figures equate to £1.6 billion worth of sales a year.
So tell me, why shouldn’t you capitalise on this spend and take a share of that pot? Why should supermarkets profit from the specialist magazine sales that could be yours?
What’s more, you don’t even have to stock a huge range of magazines to profit. Some smaller retailers stock just a handful of titles (displayed in a stand that sits on their countertop).
You don’t even need to spend time choosing your range. The team at WWMD have access to market data to help – and anyway, you’re probably already familiar with a number of titles in your niche.
If this blog has got you at all curious about the benefits of stocking interest-specific magazines, you can download my new book worth £9.99 for FREE.
It’s called: REVEALED: The Simple Secret To Increased Footfall (…that most retailers are yet to discover).
To get your FREE copy, just visit www.wwmd.co.uk. Inside the book I explain a lot more about magazines as a footfall generator, as well as revealing how magazines can boost your average basket spend by up to 25%.
I think you’ll be surprised at the lucrative, untapped retail potential that interest-specific magazines hold for you.
So visit www.wwmd.co.uk now and download my book. All you need to do is pop your details into the simple form and we’ll email the book direct to your inbox. You’ll find it’s the easiest way to discover why magazines should matter to you.
Thanks for reading,