Sunday 10 June 2018

What’s Happening In Retail?

New Product Idea – a Japanese inventor has come up with a drone powered umbrella that you don’t have to hold for protection from the weather – it follows you. Drones have lots of good recreational and photography uses but this may be one idea that our drone sellers in the Upper Market at QVM could embrace.
Actually, maybe we could offer them free to customers who want to walk up String Bean Alley in the rain as a fun substitute for real weather protection?

Ikea Becomes Not Just Furniture – Ikea are re-inventing themselves - think Adidas, Lego, Sonos, and a range of “clever idea” companies that might help push Ikea into good design no matter where it exists. Perfume, e-sports and solar power are all possible ingredients as Ikea looks to revitalise its consumer appeal.

Macy’s Show Jump In Revenue and Profit – and they claim it is at least partly due to their focus on the three C’s – curation, culture and convenience. On convenience, Macy’s say –
“In terms of the convenience question, us being able to make sure that wherever our customer wants to shop, if she’s browsing online, but she wants to feel the fabric in store, if she wants to get into a store but get out, she can transact without having to deal with any friction. That’s why we have mobile checkouts, making sure that we’ve got all delivery models, including same-day delivery for that last mile imperative. We’ve got that very well -focused.”

The Truth About Online Sales – we continue to read reports that online sales represent only 10% of all retail sales. But retail sales figures include expenditure on things like motor vehicles and petrol. If you take out those types of “non-online” products the true expenditure online is around 20% which is not to be ignored.

The Myths About Online Retailing – Do you think that retailing has become truly multi-channel, that consumers are going to spend the same whether it is online or in-store, that online is just about a quick fix, and that consumers always want something new? You could be wrong on all counts and this article is worth a read –

One of Sydney’s Fastest Growing Food Outlets Goes Cashless – Fishbowl is an up and coming food chain in Sydney with expected turnover of $15m in 2018 and they have decided to join others in the food industry by offering card or phone only payment facilities and remove the hassle of cash. They believe that customers will appreciate the streamlined approach.

Australians Won’t Take  A Job If It Involves Traffic Hassles – this is an interesting report in Business Insider Australia about the reluctance of job seekers to take jobs that involves hours of traffic grind. It might easily be translated to market customers who used to travel into QVM for their weekly shopping but may now think twice, particularly as weekend traffic on Melbourne roads is becoming almost as congested as mid-week traffic.

Bunnings To Go “Click and Collect” – Bunnings have been slow and sure about their ecommerce offer. They get 13 million customer views each month on their website but up until recently you couldn’t purchase online. They have now completed a successful online trial involving 20,000 special order products that can be delivered to the customer’s door. The next stage will be a comprehensive “click and collect” system where customers can order online and visit a store for pickup.