News and magazine sales add €575m a year for Irish retailers, conference told
The newspaper and magazine trade accounts for €575m a year in turnover at Irish retailers and a gross cash margin of around €125m, an industry conference heard yesterday.
The news category typically offers a gross margin in the mid-20pc range, Ian Keogh, chief executive of Newspread, told the gathering of some of Ireland's biggest publishers, alongside executives from the main retail groups and franchises, and representative bodies.
The event, held yesterday, at the Radisson Blu St Helen's Hotel in Dublin, was organised by Newspread, part of Independent News & Media (INM), and the leading wholesaler and distributor of indigenous newspapers and magazines on the island of Ireland.
Speakers included Newspread's Ian Keogh; Jim Bilton, the managing director of Wessenden Marketing and Brandlab Research; Gerard O'Neill, the chairman of Amárach Research; and Paul Breen, ceo of Vision Retail Marketing.
Sales of newspapers and magazines face a very tough challenge, but news remains a very valuable category to retailers - delivering an annual retail sale value (RSV) of circa €575m, and healthy gross margins as well as being a strong driver of footfall, delivering a loyal purchaser to retail stores, Ian Keogh told the delegates.
The event, which was aimed at taking a broad overview of the market here in Ireland, included insights from UK-based Jim Bilton into what is happening in other markets.
It also featured a presentation of Amárach's detailed consumer research into buyer habits, and what influences them, by Gerard O'Neill, and practical guidance for retailers on how product display influences sales, including the types of displays that work best, from Paul Breen of Vision Retail Marketing.