Demand for collector coin products continued to grow in 2018–19 to a total of $29.96 million, well exceeding the projected target. Wholesale sales were the strongest channel ($15.02 million), followed by retail and direct sales ($14.3 million). Together these two categories increased by 9.52 per cent on the previous year.

There was an increase of 11 per cent on new customers over 2017–18. This increase was driven by strong marketing campaigns, high levels of customer service, and exposure through large corporate programs with wide national reach.

Revenue by Wholesale and Direct Sales Channels 2018-19

WHOLESALE SALES

In 2018–19 the wholesale strategy was adapted to the Mint’s requirement for:

• an increased retail focus, and
• a product division of 50 per cent retail and 50 per cent wholesale.

The Mint performed extremely well and delivered a growth in revenue of 3.15 per cent against the 2017–18 results. This exceeded the 2018–19 targets and was due to:

• strong sales strategies
• targeted marketing
• new sales channels
• innovative coins, and
• strong, resonating themes.

Domestic Wholesale

Domestic wholesale revenue increased by 2.83 per cent, largely due to the introduction of licensed themed coins. The highest performing products were the AC/DC, Holden and Ford and Mr Squiggle coins. An 8.06 per cent increase was achieved in uncirculated coin products, while growth of 30.97 per cent was achieved in licensed products, with silver showing the greatest increase of 130.20 per cent against the previous year.

Due to the retail focus, the Mint developed strategies based on identifying and developing new sales channels. The recent development of newsXpress as a wholesale channel helped in the sale of Mint core products such as Mint year sets, baby sets and 50th Anniversary of the Moon Landing themed products. The Mint has engaged over 90 stores nationally. Six further channels were secured and are growing, including Queensland Museum, AllBids and TVSN. These focus on core products with unlimited mintages.

A major activity for the Mint was updating and implementing new terms and conditions of trade. These enable greater transparency, and contract management for terms between 12 months to three years. This has helped distributor confidence and satisfaction.

International Wholesale

In 2018–19 the Mint developed a foothold in the international wholesale market and developed unique programs for these clients. This helped achieve 4.14 per cent growth on the previous year.

North America was a focus for building brand awareness and showed the greatest growth at 79.94 per cent. This was attributed to the targeted approach taken by the Mint for high demand products, including coins for the:

• 50th Anniversary of the Moon Landing
• 25th Anniversary of the Kangaroo Series, and
• Terrestrial Dome Hemisphere Coins.

The Mint attended four international shows, including three with a trade fair presence. The introduction of show specials, and a silver proof coin, created high demand for the Mint’s attendance at these events.

RETAIL

Mint Shop

The Mint’s retail shop contributed strong results throughout 2018–19 with revenue up by 13.36 per cent over 2017–18. Overall transactions were up slightly (by 8.1 per cent), while the average transaction value increased by 1.87 per cent as customers purchased higher value items.

A number of customer experience events where held during the year to support Canberra and surrounding area collectors. A summer sizzler event, winter warmer evening, coin sales, swaps, lucky door prizes and functions to meet the designers were just some of the innovative events and initiatives that helped increase visitation to the Mint.

Mint Shop Sales - Gross sales year on year

Gallery Press

Revenue from the Gallery Press (where visitors can mint their own $1 coins) increased by 3.42 per cent in 2018–19. This growth was attributed to more schools visiting the Mint and the availability of five separate 2019 ‘C’ Mintmarks for ‘The Bold, The Bad and The Ugly’ coins at the Gallery Press.

Contact Centre

The Contact Centre continued to deliver solid sales over the year with revenue of $2.9 million.

eShop

Australian and international customers helped achieve more than $7 million in sales through the online shopping portal in 2018–19. This is more than 25 per cent of total sales revenue across all Mint sales channels. Increases in average spend, higher sales conversion rates and more active users indicate that sales and online visitor numbers in 2019–20 will further increase, especially when the new revamped and re-designed eShop 2.0 comes online in late 2019.

In a survey of over 22 000 online Mint customers:

• 65 per cent said they usually purchased their coins through the eShop
• 94 per cent were satisfied with the overall online shopping experience, and
• high satisfaction was recorded on quality of coin images, login process, quality of information and the check-out purchasing process.

A new fraud detection system was delivered in 2018 to improve fraud detection and provide better online payment reporting. The system helped increase online customers’ confidence in the security of the Mint’s data network.

Customer Survey Findings: Purchasing Channels

Customer Survey Findings: Interaction with the Mint's Call Centre

Direct Customers 2018-19 - new customers by year

New Direct Customers 2018-19 by month

LEGENDS LOYALTY PROGRAM

The Legends Loyalty Program rewards the Mint’s regular customers for their purchases. In 2018–19 nearly 1700 customers received $50 vouchers, and 135 received a $250 voucher. More than 13 400 new members signed up to the Legends program, bringing the total membership to 59 902.

The Mint ran a legends ballot in March: the $1 ‘C’ Mintmark Uncirculated Coin—Australia’s Wild Colonial Burshrangers—The Bold, The Bad and The Ugly. With a strictly limited mintage of 1500, the set was highly sought after and the number of entries into the ballot was more than double than expected.

The Legends program’s revitalisation will continue into 2019–20 and will help further increase communication with its members as the Mint continues to develop reward and loyalty programs.

Legends Growth - Membership growth by year