The Value of Magazines
The print industry has been beleaguered in the last few years by multiple forces. At worst there have been shouts of the death of print and at best, concerned trepidation in discussing what is still a very profitable and viable category. Yes, consumers are still feeling a hangover of sorts from the great recession. Yes, the rise of tablet purchases has grown exponentially. Yes, we are fighting for attention in an increasingly fragmented media landscape. However, this industry is still a multi-BILLION dollar industry. Magazines are exciting, ever changing with new content each and every week and print media is and will remain part of the mix that consumers reach for.
Capture those consumers that continue to enjoy reading magazines (there are more than you may think)
Magazine content is currated and organized to appeal to the specific reader demographic and as such, becomes an intimate, involving experience for the reader. A reader's favourite is like a trusted friend, giving advice, inspiration and entertainment. On average, a reader spends 42 minutes with his or her favourite magazine.
46% of shoppers go to a store they know will have the magazine they want, while 26% will even go to another store if the magazine they want is not available.
Slow shoppers down in your store
Have you ever watched what happens when someone hits the magazine section in your store? Most slow down, as if they are escaping the chore of shopping, even if only for a few minutes. Whether in a grocery store or convenience location, consumers linger over the magazines and visibly relax. They linger… and lingering in your store results in increased sales overall. It is proven that the longer someone is in your store, the more likely they are to buy and buy more.
Tablet users are not abandoning print either. "Tablets encourage consumers to search and read new magazines. 96% of tablet owners have read a printed magazine in the last year, compared to the 80% national average." 1. A recent study of magazine purchasers showed that 71% prefer print, while 19% had no preference.
Women continue to be strong supporters of the magazine category. Women list magazines as their #1 affordable, under $10 treat.
Keep magazines attracting attention at the checkout.
Along with gum, candy and beverages, magazines remain a great impulse buy. Magazines are #1 among shoppers. 80% of shoppers chose magazines when asked "what do you like to see at checkout". There is an optimal mix for all checkout product that maximizes retailer profitability and magazines are part of that mix.
Keep your customers up on the latest trends
Magazine buyers rank among retail's best customers. They tend to be more affluent with more discretionary income.
"Influentials" influence the spending behaviors of 91% of the population. Not only are they are early adopters of the latest products and services, but they're also avid publication readers. Publications are the main source for new products & ideas that drive further core product purchases.
Each issue is packed with fresh ideas that entice customers to try new products, boost confidence in making major purchases & inform buying decisions on a personal level. Consumers trust information they gain from magazines above any other media.
Influence beyond the original impulse purchase
Due to the inherent nature of print media, readers actively participate in building memory structures that are the basis for brand recognition & actual consumer behavior. Purchasers often pass publications on to others, extending the sphere of influence beyond the original purchaser as well.
Reach occasional customers & stimulate niche interests
New titles & brands are effective tools to reach emerging segments, growing demographic groups & foster niche interests. Proper merchandising generates additional transactions due to the impulse nature of the product.