Trying to analyse shifts in market trade is a bit like trying to pick up mercury. Just when you think you have a grip it slips through your fingers. However the dramatic downturn in market business this week just happens to coincide with Pink’s departure to Sydney after a string of very successful concerts here in Melbourne. Her legions of fans have been very obvious to traders throughout the market over the last week or two.
Maybe we need to suggest that the Victorian Government re-evaluate its expenditure on things like the Australian Formula One Grand Prix (costing A$130m), with doubtful benefits to the state, and look at fostering more concerts of the calibre of Pink. The Formula One Grand Prix coincides with one of QVM’s worst trading periods for the year while Pink has created a significant stimulus. The Bruce Springsteen concerts next year can probably be expected to do the same and we can only assume that our retail experience is echoed across the broader Victorian retail scene.