BizzBuzz Small Business Deal of the Week

We mentioned this group buying site a few days ago. They focus on deals for small business.
This week they are offering 500 business cards printed in colour, front and back, on premium quality card, for $25.00 including delivery. We didn't notice any catches but check it all out here - http://bizzbuzz.com.au/deal/25-for-500-business-cards-vistaprint/

Australian Retailer of the Year

Let us say upfront that these awards are hosted by AMP Shopping Centres and BRW so shopping mall retailers can be expected to feature strongly.
The winner this year was activewear retailer, Lorna Jane who beat Birdsnest, Gloria Jeans, Matchbox, Oroton, Pie Face and The Athlete’s Foot. There were 5 other awards given at the presentation. Best new retailer was presented to Mall Music, Innovation in Retail went to The Athlete's Foot, Sustainable Retailing to Bakers Delight, Successful Retail Marketing Campaign to Grill'd, and Best Use of Technology in Retail was handed to Eyeclarity.
Your editor has no idea who 3 of those listed retailers are so it is time for some googling.

Two More Traders On QVM Website

Welcome to the QVM website traders pages to two long standing traders.
Alan of B.B's Jewellery http://www.qvm.com.au/qvm/market_traders.aspx?trader_id=87 and Tony of Leathertone http://www.qvm.com.au/qvm/market_traders.aspx?trader_id=86


If you would like a presence on the QVM site, simply email the office (info@qvm.com.au ) with 6 good quality photographs and the following information –
• Short description of the business and products available (aprox 100 - 200 words)
• Business name and stall or shop location
• Website (Direct link from www.qvm.com.au to your website)
• Email address
• Business contact telephone number

If you would like assistance producing suitable photographs please contact Trader Volunteer, Greg Smith (0406 222 020).

QVM Announces New Marketing Iniatives

Our CEO has announced a number of new marketing initiatives that will be of interest to General Merchandise Traders.
Firstly, 12 Citylink banners featuring the market will be set up near the Brunswick Rd. exit of Citylink. For us, the impact on visitors travelling from Tullamarine could be significant. Capturing the attention of tourists when they arrive in Melbourne is a key ingredient to getting the right customers past our market stalls.
Secondly, a link with the King Tut exhibition in which the market offers $20 shopping vouchers to customers who book foodie tours with the market. The foodie link is not ideal but a partnership with this excellent exhibition will be a plus for the market.
Thirdly, a new in-flight program with Air New Zealand, Garuda Indonesia, Malaysia Airlines and Singapore Airlines which will feature QVM as part of the descent video on each flight into Melbourne. These are significant international airlines and capturing tourists as they arrive in Melbourne seems a good move. The market is already featured on seat-back videos on the free Skybus shuttle service in Melbourne.
Fourthly, the QVM will be featured as part of a New Zealand Masterchef “Win A Melbourne Experience” promotion. New Zealanders are one of the more important international groups for General Merchandise Traders.
All these initiatives are most welcome as they target tourists who are our core customers.

Coles Develop Online Pickups.

Coles have been developing their online ordering system for some years and in response to customer requests they allow pickups in store. They are also trialling order pickups at a Sydney service station.

Apparently customers love the convenience of ordering online but can’t always be at home for the delivery. They are asking to pick up their order at a time and place that suits them. Coles say the trial may lead to a whole network of pickup points.

We recently posted an article about providing a delivery service for QVM customers. In a very competitive retail environment Coles knows the importance of keeping up with customer’s needs. Can we say the same?

New Buying Group for Small Business

               The Groupon clones of this world are plentiful but one new buying site specialises in providing bargains for small business.

                BizzBuzz.com.au is the new kid on the block and aims to provide special deals on items from printing to stationery, advertising, marketing, business cards and the like. This week’s offer is a free 60 day trial to Shoeboxed, an online business receipt organiser. Apparently you mail them all your receipts and they scan, organise and file all the details and then provide you with a spreadsheet summary. They do the work and you get rid of all those bits of paper. The 60 day trial is said to be worth $40-$80.

                We have subscribed to BizzBuzz and will let you know what they are offering over coming weeks.

Market Interview - Kha - Australian Manufacturer.

This interview should probably be part of our Hidden Gems of the Market articles because manufacturers like Kha aren’t common in the market these days.

Name? Kha Nguyen
What do you do/sell at the market? Australian fleecy garments.
How long have you been at the market? - 25 years. 3 months after I arrived in Australia I started at the market.
What do you like best about the market? - meeting people from all around the world
Worst moment? - When people don't believe my garments are made in Australia.
Past jobs? - student & factory work.
Sporting interests? - Play tennis - interested in cricket & football.
If you were CEO for a day? - I'd spend time talking directly with stallholders.
One thing nobody knows about you? - Nothing really - I am an open person.
Favorite food? - Lobster with XO sauce.
Favorite drink? - water
Favorite TV show? - Big Bang Theory and documentaries.
What is the best piece of advice you've ever been given? Enjoy life (Father)
If you had Sunday afternoons off what would you do? Spend more time with kids.
Anything else you’d like to say? I really enjoy this market.


Thanks Kha

Tips For Better Business - No.2

2. Greet Your Customer – Such a simple thing, yet so important.

Are you perfect at assessing customers? How often have you been surprised when a “no chance” becomes a paying customer?

A simple greeting gets you on the right foot with your customer....and don’t be worried if they don’t establish eye contact straight away (many don’t). They may simply be responding to a recent bad shopping experience.

What constitutes a good greeting ? –

                                1. Immediate Recognition – don’t delay.

                                2. Be Warm & Sincere – if it doesn’t come from the heart, it won’t work. Be yourself.

                                3.”How may I help you?” conveys the right sentiment but you may prefer to find a less used greeting.

                                4. Understand Your Customer – listen, look and learn. If you read your customer correctly you will be rewarded.

                                5. Treat your customer the way you would want to be treated. You may prefer not to be bothered when you shop in stores but it is unlikely you have ever been offended by a “Let me know if I can help you”.

It is not always easy to pick the right greeting but it is unforgiveable to ignore a customer.

Tips for Better Business will become a regular entry on our website. What are your tips? Email us or comment below.

Tips For Better Business - No.1

1.Change your display regularly –  Shopping centre designers put a lot of effort into making the shoppers experience an adventure. They deliberately try to lose customers in the shopping environment. Customers store basics in their memory and when they visit your stall they are influenced by what they saw the last time they visited. If you change your display you change their perception of what you are selling, they notice products they didn’t notice before, and they are excited by the adventure. This is a simple inexpensive way of improving the customer’s experience and giving all your products the exposure they deserve.

Tips for Better Business will become a regular entry on our website. What are your tips? Email us or comment below.

Macy's/Bloomingdale's Perform Well

We don't normally report on US retailers results but two interesting things came out of Macy's  stellar performance in the March quarter.
They contributed their improvement to a combination of marketing and cost-cutting measures but particularly highlighted the tailoring of their merchandise to local regions (listening and reacting to local demand) and their concentration on exclusive brands. A stunning 43% of their revenue comes from private, exclusive and limited-distribution brands. It helps to not have competition.

Markets of the World - Covent Garden - London

                QVM may be the largest open air market in the Southern Hemisphere but there are other classic markets around the world and this week we focus on London’s famous Covent Garden.

                Covent Garden comprises two markets, the Apple Market with British handmade arts and crafts and antiques, and the Jubilee Market with a variety of merchandise on sale. Originally a fruit and vegetable market, Covent garden was rebuilt in the 1970’s and re-opened in 1980 as Europe’s first specialty shopping centre and a major tourist attraction.

                There is an interesting mix of modern retailers, general merchandise traders, craft carts and street vendors with some areas devoted to different types of merchandise on different days.  The market aims to attract the UK's best crafts and antique traders. The main building was constructed around the mid 19thC so there are some architectural similarities with our QVM.

See their website here - http://www.coventgardenlondonuk.com/

Major Retailers Report Slow March Quarter

Both Myer and David Jones reported sales declines in the March quarter yesterday. David Jones was down 1.3% but said it would still maintain its profit forecast for the full year. Myer reported a 3.1% decline in same store sales for the quarter.
These reports were consistent with the overall retail data which showed minimal growth for the retail industry. The Reserve Bank expects that consumer savings will remain at a high 9-10% for the rest of this calendar year.
David Jones reported that their better performing categories were contemporary womenswear, accessories, menswear and childrenswear. Myer reported that they were exiting whitegoods and revamping their music business. Their sales performance, excluding electricals, was described as "pleasing".

Our Big Advantage

On these pages we have often talked about consumers re-assessing their values, changing their buying patterns and generally finding reasons not to spend. The result has been a consumer buying drought that has made our trading lives very difficult.

It has been suggested that consumers and retailers are moving in different directions as retailers concentrate on cheap prices while consumers look for the sort of stimulation that cheap prices alone can’t provide. Some retailers are very good at dominating the cheap end. It has been said that Queen Victoria Market traders have this type of advantage through low overheads but the sheer volume of large national retailers is very hard to compete with.

One of the problems we face is that “dumbing down” our ranges to compete on price will destroy the very attributes that make us interesting, different and stimulating to consumers. Trying to compete just on price will destroy our attraction. Ignoring price competitors will be equally destructive. It is a very difficult problem and requires careful awareness of customer responses. It is ok to have prices that are a little dearer if you are engaging with your customer and can adjust your sales pitch to suit the situation. Selling up to product advantages that meet your customer’s needs is a wise strategy and shoppers who love to shop will appreciate the attention.

This is our big advantage. We are dealing face to face, one on one, with our customers in a way that staff-reduced, big retailers can’t. It is an advantage that can be profited on with every customer who shows an interest in our stalls and enjoys the service we can provide.

Google Launch New Shopping Service

Searching for particular retail products on line has been a rather hit and miss affair. A Google search gives you a whole range of links, many of which are irrelevant or, more annoyingly, outdated.

There are a number of dedicated shopping services on line but now the web’s major search engine has its own shopping component. Type in “Big screen TV” and hit Shopping on the Google menu bar and you will be taken to a listing of retailers offering prices and contact details relevant to your search.
Retailers can sign up to Google Shopping for free by submitting a catalogue of their products to the Google Merchant Center. Traders should seriously consider submitting their products. It is early days for the Google offering and, while mainstream products like TVs are well represented, more specialised product ranges are yet to be populated in their database and many entries are simply ebay listings. Sounds like a good opportunity to get in at the ground floor. Try typing some of your products into the Google search box, click on the “Shopping” link on the menu bar and see what comes up.

Revamp For QVM Announced Yesterday

The Melbourne City Councils 2011/12 draft budget has been announced and features a total spend of $346.55 million of which $1.15 million has been dedicated to upgrading The Queen Victoria Market.
Last night’s Channel 9 News said the $1.15m would be directed to revamping old buildings and removing asbestos roofing. Lord Mayor, Peter Doyle, said “We would look over the next year to making public a vision for The Queen Victoria Market that actually restores it to the No.1 iconic destination of Melbourne, which it used to be.”

Market Interview - Danny

Name? Danny

What do you sell at the market? Ladies and gents knitwear.

How long have you been at the market? – 32 years

What do you like best about the market? – It’s a choice of lifestyle made many years ago and it’s very hard to change at this point of my life.

Worst moment? - Dealing with people who are not trustworthy and very hot weather.

Past jobs? - Family furniture business back in Buenos Aires.

Sporting interests? - Gym, soccer (man u) and  basketball.

If you were CEO for a day? - I'd hire a big bus and drive around Melbourne CBD collecting customers.

One thing nobody knows about you? - If there is, there is a reason to keep it that way.

Favorite food? - Italian

Favorite drink? - Wine

Favorite TV show? - Sopranos

What is the best piece of advice you've ever been given? - Always be truthful.

Was it easy or hard growing up in Argentina? - Easy.

How much change do you see when you travel back to Argentina? - Both a lot and a little, in different areas - more immigration, bad traffic, still heaps of corruption.

If you had your Sunday arvo free from the market, what would you do? - Spend more time with the grand kids and take them to the theatre.

Thanks Danny

Interviewed by Tony

Hidden Gems - Part 2

We believe that there are many surprises to be found at the top end of the Queen Victoria Market. Quality products that offer a uniqueness and excitement not often expected in markets and in fact equalling the offerings at many so-called high end shopping centres.
We are compiling a database of these products for use in marketing campaigns and general promotions and will be highlighting certain products on these pages over coming weeks. This week we focus on Hidden Gems in the jewellery category.

One-On-One Follow Up To Visual Merchandising Workshop

QVM management is to pay for follow-up consultations for participants at the Visual Merchandising Workshops held in March of this year.
One hour consultations will be held at trader's stalls over May and June. At this stage, only those who attended the original workshop will be offered consultations.
We have received very good reports on the benefits flowing to traders as a result of these one-on-one sessions. The original workshop came up with many good ideas but also some points that were not relevant to every trader. The opportunity to focus on creative merchandising solutions that relate directly to your own business is not to be missed. ARA's professional merchandisers will be conducting the sessions.

Market Delivery Service

One of the major convenience factors for customers buying online is that, in most cases, they receive home delivery. Usually this is through the postal system or perhaps a courier service allied to major freight companies. Waiting for an item to arrive is apparently a price many consumers are prepared to pay. The convenience of home delivery outweighs the need to pick up the goods by going shopping.

The QVM master plan is to be released this June and under consideration is a proposal by Councillor Peter Clarke that includes home delivery from the market to customers. The model is based on food in the city area but we don’t see why the concept couldn’t be given wider application so that it included all market traders. Some General Merchandise Traders already offer mailing services but many don’t and, as online buying becomes more common, it is likely that consumers will expect home delivery as a normal service.

Imagine a central drop off point at the QVM that facilitated Australia wide delivery for all traders. It could be run by a major national transport operator at volume discount rates and theoretically could offer same day or next day delivery. We expect the volume would be attractive to a carrier. Traders would need to pack and address their goods and then simply drop them off at a pickup point each day. We are just throwing the idea out there for now, but it would seem worthy of more consideration.

Market Interview - Jeffrey

Name? Jeffrey
What do you do/sell at the market? I draw portraits and caricatures.
How long have you been at the market? - 7 years
What do you like best about the market? - I normally paint traditional drawing so what I do here at the market is different. I get great pleasure from making customers happy.
Past jobs? - I teach drawing in china and have been involved in numerous solo and group exhibitions.
Sporting interests? -Table Tennis
If you were CEO for a day? - We have much cultural diversity amongst our traders. I would like to see more cultural art from places like China, Turkey, Iran, Italy. More culture, less K- mart.
One thing nobody knows about you? -I dream of being a famous contemporary artist.
Favorite food? -fish
Favorite drink? - wine
Favorite TV show? - a good Chinese movie
What is the best piece of advice you've ever been given? - Friends are more important than business.
Is it easier to teach drawing or learn drawing?- difficult question. it is easier to teach student with little to no knowledge of drawing. Teaching experienced students is more difficult.
When did you first start painting? - I was 10 years old. China's cultural revolution was in full swing and there was no study so my father showed me drawing.

Thanks Jeffrey

Interview by Tony