If you’ve been to an airport you have seen a Hudson News store. They are located in hundreds of airport terminals.
Fancy Unique Business? NOPE!
Hudson News only sells popular products that you have already heard of.
1. Best Selling Books
2. Popular Mainstream Candy
3. Tacky Touristy Crap that you forgot to buy for your kids (they will love it!)
What is the Key to their Success?
Partnerships with airports is how Hudson News dominate.
Millions of travelers walk past a Hudson News while catching their flight. Airports need a store they can rely on to provide travelers with refreshments (and pay the rent), and Hudson News is willing to comply with all the airports regulations (and pay the rent).
Would the Hudson News business work if they were located in your local shopping mall? Nope – grocery stores and 7-11 are cheaper and way better.
Rishi, What is Your Point?
If you have multiple competitors think of valuable partnerships you can make. Sometimes it’s your partnerships that make you dominate – not your product.
The Future of Books Stores
Hudson News is the future of Book Stores. I have no idea how a stand alone Barnes and Nobles can survive. They are just way to big and expensive to run, also they don’t have enough traffic coming in anymore. Each Hudson News store on the other hand is run by only 1 person and has millions of people going through their stores daily.
Hudson News also only carries books they know will sell which results in more turn over.
PS One could argue that their key to success is surrounding the cashier in a mound of candy.