Achi news desk-
The future of the Australian News Agency channel is in the hands of those who own and manage the approximately 2,800 retail businesses that make up the channel. The decisions that everyone makes in each of their businesses determine the success, or otherwise, of those businesses and the channel.
The most important decisions are those concerning products married in business, e narrative of the business and how you are familiar.
Before I get to that, I can say that the future of the Australian News Agency will not be found in newspapers, magazines, lotteries, convenience retail, tobacco, cheap gifts, cheap toys or a spinner mall of products with names on them. The future of the Australian newspaper agency will not be found in any type of business competing on a variety of premises.
Nor will vendors play in the future of the Australian News Agency. Even though they created our channel, print media businesses in particular have no interest in our future.
We can already see from retailers, newsagents, space across Australia that there is value in reaping from playing in premium and unique spaces, worrying less about price point and being smart about your profit decision. Equally, there is value in saying Find a need and fill it In developing our local businesses.
By products, I am particularly interested in products that are not common to the news channel. Products such as clothing, gifts priced at $300.00 and up, books but not scrap books, cookware, collectibles that people will travel to. It is likely that product suppliers will not be in our channel today.
Sure, everyday products like stationery, greeting cards and other categories our channel is known for will play a role in the future. Their success will depend on how smart we are in what we carry and how we price the burden of carrying. For example, selling stationery to those who need it is easy, selling to those who love it is a completely different opportunity – one that is worth more in my opinion.
There are no borders, rules or boundaries. What you can sell is up to you and your imagination of what a lot is like.
By narrative I mean the story of the business and why for someone considering the business. If you own a store, you put products on the shelves. If you’re a retailer with a commitment to narrative, customers will understand the business, love being in the business, and want what you offer because the narrative will foster trust.
You cultivate your narrative through what products you carry, how you place them in the store, how you present them on social media, on your website and how personal you are in and with them.
The challenge with the narrative is that it must evolve, with you, with time and the community.
By how, I mean when you sell and where you sell … being able to sell online is the key here. If you are offline, you will have no idea what you don’t know.
Now, if this all feels a bit New Age, I don’t mean it. Today, May 2024, we are in the midst of an era of immersive retail, retail people feel and experience. This is where your narrative plays a difference. A writing block in a basic newspaper agency is a writing block. The same writing pad in the store with a strong narrative could sell more and more easily.
As much as your store and website will help people do that to feel things, so you will have greater success.
What I’m getting at here is that the future of the Australian news agency lies in us being smart, engaged and creative, each of us doing our own shop as best we can. It won’t look like a cohesive channel, and that doesn’t matter. What matters is that you create a business that is very successful locally, and with online shoppers who find you.
To those who do not act, who do not embrace change, I say goodbye. The days of the old news agency are over. Time will catch up with you. This will bring less roofs in our channel. I’m not sure how much, but at the current trend it will be 150 – 200 in the next 12 months.
For those interested in taking action, there are many of us on the channel who will help where we can. reached out. Together we can ensure the relevance and success of our vital local retail businesses, no matter how diverse our products and services and no matter what we call ourselves.
Footnote: There will be those who will say that the shingle should be changed, that the news is irrelevant. Although it’s irrelevant, what you call the store doesn’t matter that much. It’s like a picture is worth a thousand words. What a store presents itself as more important than what a store calls itself. However, Australian newspaper agencies, being essentially local businesses, I think it is better to be called by a name that is locally relevant – rather than some national name that is not locally relevant.
Second footnote: When I read back what I wrote I know that I did not make a clear and solid prediction. It’s because I can’t. There is no channel, there is no way to determine what all the businesses in the channel will do.
