Magazine publishers, be afraid. Be very afraid. Wal-Mart, the giant US department store chain that's reputed to be world's largest public corporation, is purging more than 1,000 magazines from its shelves.
According to the New York Post, the decision - announced by Wal-Mart a week ago - has sent "yet another shock wave through the battered publishing industry." Almost every major publisher is affected.
The victims include Home and Metropolitan Home, published by Hachette Filipacchi, Better Homes & Gardens and Ladies Home Journal (Meredith Publishing) and Time Inc's pre-teen title SI Kids (Sports Illustrated For Kids),.
The Wal-Mart list also refers to titles it hasn't stocked for some time, such as The Economist, and titles that are no longer publishing. So it's not quite as bad as it might seem.
But the trend is obvious. Magazine publishers are going to struggle if other major retailers follow Wal-Mart's lead. Some publishers are evidently trying to negotiate with Wal-Mart to change its mind. That's not surprising, given that Wal-Mart accounts for an estimated 15-17% of US retail magazine sales.
However, it is estimated that the de-listed magazines account for only 2% percent of Wal-Mart's total magazine sales, so it won't suffer greatly from its ban. And, of course, it might well stimulate interest in those titles that will remain on display.
As for Britain, I would guess that WH Smith and Tesco will be watching to see the results of Wal-Mart's move. Magazines are already struggling to get shelf space in their stores. Could they consider a further purge of titles here too?
