The release in two weeks of the latest version of our multi store software for newsagents enhances the magazine returns facilities for our newsagency users running multiple retail locations under on a shared software platform. This is a significant enhancement as we are delivering the latest newsagency supplier standards to stores networked together. Not an easy task given the data tracking requirements of the EDI standards.
We are seeing more multiple location ownership newsagency situations arise and with these, more opportunities to help newsagent balance stock between more than one retail outlet. This is a case of newsagents being ahead of suppliers or supplier standards at least. We have some thoughts on standards in this area since we have had this situation with our own newsagencies since October last year when we purchased our second store.
Key to leveraging the benefit of owning more than one newsagency is the ability to move stock between stores freely and providing suppliers visibility of such movement. As a retailer I want to move stock to where it will sell. The creaky old magazine supply model makes this difficult. Smart technology can help retailers hurdle this challenge and focus on selling the product.
I am certain that advances in this area of common ownership of multiple newsagencies will be significant in the next few months.