How to Increase your Footfall by @specialistmags for #IndieRetail

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.

Here’s how…

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:

  1. 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).

  1. 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.

  1. 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.

One secret

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,

Barry

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About Clare Bailey

Clare Bailey, The Retail Champion (formerly Clare Rayner), is one of the most well-known and respected retail experts in the UK. With unrivalled knowledge in retail, high streets and consumer matters, she offers unbiased, independent content – whether engaged as a professional speaker, for broadcast media, or for a written feature. Clare is a business woman, entrepreneur and founder of several small businesses. Having been born into a family of successful business owners, it was inevitable that she’d eventually jump off the corporate treadmill and step out on her own! Today her brand portfolio includes The Retail Champion, The Retail Conference, the Future High Street Summit and the Support for Independent Retail campaign. In addition, she is co-founder of Mobaro Retail UK and a non-exec director of Beed Virtual Assistant Services. Having started her career as a fast-track store management trainee for McDonalds, she went on to work with leading retailers such as M&S, Dixons and Argos. She moved swiftly into management roles before being headhunted into senior consulting roles with global software giant SAP, and international management consulting brand, Accenture. Her corporate background in senior retail, consulting and technology roles, coupled with her experience of creating and running her own business, has enabled her to be equally capable whether consulting to global brands or micro businesses. This unique blend has not only positioned her as a leading expert in all things retail, but has enabled her to add meaningful commentary and insight to the debate around the future of the high street, and, how technology is driving fundamental change in the way consumers, and businesses, interact. Clare has become an influential voice in her field, which has resulted in her becoming a regular media contributor and sought-after conference speaker. Often seen on Good Morning Britain, BBC Breakfast, Sky News, and Chanel 5 (to name a few), Clare speaks on a myriad of retail, high street and consumer issues – but is particular adept when it comes to explaining the context behind retail trading results, newly released data, and government stats, in a palatable and informative manner. In addition to broadcast and conference speaking, Clare is the proud author of two best-selling business books published by Kogan Page - The Retail Champion: 10 Steps to Retail Success, published July 2012 and How to Sell to Retail: The Secrets of Getting Your Product to Market, published February 2013. She has provided contributions to various academic texts, including Retail Marketing Management (published by Pearson). With an engaging, conversational yet informative style, Clare writes for press and content agencies, providing features, articles, blogs and opinion pieces as well as contributions to white papers and reports. However, when the situation demands a more serious style, Clare can deliver - In 2016 she wrote an extensive report for a major insurance and risk law firm, as a retail expert witness, to support a public liability suit. She found that project particularly enjoyable as it played well to her strengths – assimilating large amounts of data and information, identifying the key points and articulating that in an understandable manner. When not on TV or speaking at conferences, Clare’s “day job” sees her supporting consumer-facing businesses through her consultancy services. When asked to describe what she most loves about retail consulting it is typically the opportunity to “dig deep”, getting “under the bonnet”, in order to leverage the business data to uncover the insights that lead to “lightbulb moments”. She also loves working on business change programmes that centre on improving the processes and systems to increase profitability by supporting more rapid, better informed decision making, improving the customer experience, or simply by become more efficient and streamlined. In this respect she considers herself a “business engineer” with a brain that works like a relational database! Due to her years of experience, her logical, objective approach, her quick, rational thinking, she is known for being able to cut through complexity, seeing right through to the crux of issues, finding creative solutions that others may have overlooked. As if all that wasn’t enough, Clare is a working mum, juggling a home life in rural Lincolnshire with her partner, their 5 kids, 4 cats, and geriatric Labrador! For all enquiries, contact Clare directly on 01727 238890 or email champion@retailchampion.co.uk.
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