What The Big Retail Show In New York Means To Traders

This week’s Big Retail Show In New York is described as the worlds most important retail conference bringing major retail players from across the globe together - the likes of General Electric, Tommy Hilfiger, Alibaba, EBay, Myer, Macy’s, Woolworths, Coles, and so on.

And more than ever this year the emphasis has been on technology - technology that makes it more efficient for retailers to track and predict stock levels and technology that helps transform the customer experience, essentially by making it more convenient.

Much of the technology would appear to have little relevance to market traders. There are the cameras that follows the customers eyes to see which products they look at, watches as they pick up the product, and then records whether they take it or put it back. There are the robots that scan shelves to keep track of stock levels because that is something that humans don’t do very well. There are the data collection systems that enable retailers to track what their customers have bought and using that information to offer them new purchases. Your local supermarket probably does that already. Of course it could be argued that market traders who closely watch their customers in their stalls are able to do some of those things manually.

Assisting customers to find what they want in store is a major focus for global retailers and that has particular relevance for a traditional sprawling complex like QVM. Linking trader details on the QVM website with real-time trader locations (and map directions) is a current focus for our management team.

But the underlying philosophy for many of the major players at The Big Retail Show was quite clear - it is all about providing the best customer service, no matter where the customer is, and delivering the products to the customer, anywhere at any time. 

Relevant Forbes Articles: 
https://www.forbes.com/sites/stevendennis/2018/01/19/retails-big-show-a-few-key-takeaways/#654f7f4a7f46
https://www.forbes.com/sites/deborahweinswig/2018/01/19/at-nrf-2018-retails-big-show-retail-technology-was-center-stage/#43f57cd966b1

Have Your Say - click here.

The Importance Of Being Yourself

Inc.com is fast becoming my favourite magazine website and this article has great relevance to retailing.

It concerns Angela Ahrendts who is Senior Vice President of Retail Strategy at Apple, a job she got after successfully steering a turnaround for luxury fashion brand Burberry.

Earlier in her career Angela had been sent to an executive coach to tone down her demeanour. Apparently she was prone to using her hands for talking (I can think of a few traders who do that) and that was considered unsuitable for upper executive levels.

Angela was very uncomfortable with the coaching and left the session early with a great quote borrowing from Shakespeare - “So, I just think, that to thyself be true.” She figured that she had got along fine just being herself so why change.

The lesson is clear and the relevance for retailing is compelling. We wrote recently on this website about the importance of personable, friendly relationships with your customers. Personal relationships are a significant advantage for small retailers particularly as a counter to the impersonal online world. Being yourself, being authentic, and perhaps waving your hands around can be a big plus - don’t hold back (but make sure you show your better self).

Have Your Say - click here.

Who Is To Blame For Ruining Shopping

I am going to do something I strenuously avoid normally – I am going to talk about the good old days. The days when shopping was fun, an adventure, an opportunity to go out in search of treasure and complete a day’s searching, often exhausted, but satisfied in a job well done.

Planning and anticipation would go into a shopping trip and the day itself usually involved carefully visiting the various retailers who could possibly satisfy your shopping needs. I say possibly because, before the information age, we were never really sure what they had in advance. And sometimes we could be disappointed by their offer, or equally we could get a nice surprise because we found something we hadn’t expected. After sifting through the options, interspersed with a cup of coffee here, and lunch there, we would finally make a decision on our intended purchase, make that purchase, and head for home, a job well done, mission accomplished, a general feeling of satisfaction.

Now I can do all that in 15 minutes, sitting on the couch, before I head out the door. What is the fun in that? How could we turn a half or full-day experience into a boring 15 minute one? Who has deprived us of an exciting stimulating, anticipatory experience and made it ho-hum?

Let me give you another example. I have a significant birthday coming up and I was thinking of asking for a nice watch as a special gift for a special day. This would have been a magic old style shopping trip. I am salivating at the thought. But I did a bit of research online, narrowed down the options, and then thought about the possibility of going to an auction and perhaps picking up a very worthwhile used watch from one of the great Swiss manufacturers. Going to an auction, examining the goods on offer, planning bids, and then going into battle with the buyers in the room sounded like a great shopping adventure worth at least a morning or afternoons diversion. But no!

Have you heard of invaluable.com? It is a website that gives you direct access to hundreds, probably thousands of auctions worldwide. If you type in watches it will list all upcoming auctions in places like Bristol UK, Los Angeles USA, Paris France, and so on. And you can bid online in any of those places. Now, I haven’t used the service so I don’t have all the detail on how it works, but you can pay with your credit card, most of the auction houses have shipping facilities, and the world is your oyster. You can make your decision on the spot with the comfortable knowledge that you have examined the total auction offer on watches, across the globe, from your lounge chair. 

Where is the fun in that? Ok, I will admit that getting global access has some merit. I might find a nice surprise or two. The actual auction might have some excitement but watching bids on screen rather than looking your auction opponent in the eye, is a backward step for me. I might have to find an auction house that doesn’t use online for a true experience.

I hear you saying that I don’t have to go online, I can simply go and do what I used to do. And you are right. I can ignore the online aspect and just go on a shopping trip and make my purchase. But what if it was cheaper elsewhere? See, I am hooked on this online information thing – Damn them! Whoever they are have ruined a perfectly enjoyable and satisfying experience of shopping. Maybe I can come back as a millennial and it wouldn’t bother me.

By Greg Smith

COMMENTS:
17/01/2018 20:11:21      Greg re watch         "Greg you are too  tongue in cheek the world is your oyster YOU are free to choose it is just that there are so many options out there have fun choosing your watch option and happy birthday🎂🎂🎂🎂🎂 please comment." 
Yep - I think an old fashioned shopping trip in real shops is the way to go. Thanks for your wishes - Ed.    
       

A Frightening Statistic For Specialty Traders

We know that the Queen Victoria Market is a very important tourist attraction for the city of Melbourne but one category of tourists is showing serious decline and that has very serious implications.

More than 40% of all international visitors to Australia come to Melbourne’s Queen Victoria Market and that is a striking endorsement to our international appeal. No wonder we have so many souvenir stalls here. They are serving strong demand.

But it is the other group of tourists, the home-grown regional and interstate tourists, that are in decline. Around 14% of country and interstate visitors to Melbourne used to come to the Queen Victoria  Market. That is now down to around 6%. These are the football fans from Perth, the rugby fans from Brisbane, the shoppers from Tasmania, and the day trippers from Bendigo, Ballarat, and other regional centres.

Most Specialty Traders will identify very strongly with these groups. They are often described as the “big spenders” or “the reason I had a good day”. Their decline is bad news. The good news is that QVM have identified the trend and the potential for correcting it is substantial. Why have they dropped off? What can we do about it? Is it our offer, the way these tourists now access Melbourne, or something else? We welcome your views.

Have Your Say - click here.

COMMENTS:

16/01/2018 10:50:05      Tourists         "Greg were did the sample figures come from how accurate are they//? I note that a trader[ souvenirs] did brisk trade until 4 30.... he is a late trader and the people walking the sheds are only after his product. Please respond. In regard to the first comment I feel that the fall off might be due to natural attrition ie our product being offered regionally please respond thanks."

The figures are from Tourism Victoria. I have rounded them off but our marketing people should be able to give you exacts for 2017. The 6% came from our marketing staff. The late trader? – His customers were definitely international and probably here for the tennis. They probably were not aware of our trading hours. By “the first comment” do you mean the drop in regionals and interstaters? If so, their access to more goods, locally and online, may be one of the reasons for the drop off. Our marketing staff are looking at other things as well including the number of regionals who used to come by bus direct to the market, and now come by train or car. Thanks for your input. - Ed

Heard Under The Sheds – 14/1/2018

Paul Guerra’s Apparent Departure – caught a lot of attention this week with the news that he had been appointed CEO of the Royal Agricultural Society of Victoria. The facts were a little less interesting when it was realised that Paul was doing what he has always done. Ever since being appointed Chairman of the Queen Victoria Market 6 or 7 years ago, Paul Guerra has held executive roles with companies involved in various industries including communication and health. And he is still Chairman.

The Tennis Crowd – is certainly bringing an interesting impact to our market with nationalities from all over the world walking our aisles. This would appear to be an ideal time for souvenir sellers with one seller still trying to pack up at 4:30 on Friday despite regular interruptions from tourists who realised he was the only opportunity still open in the market. One trader who keeps detailed records says 35% of his customers on Sunday were in Melbourne for the tennis.

Compromising Market Recovery – our article about repetition (http://www.victraders.com/2018/01/compromising-market-recovery-what-would.html) drew a number of comments and suggestions. One trader suggested that allowing the departing trader to trade rent free for a suitable period (say 2 months) would allow him to clear stock, give him some return on his investment, and ultimately avoid repetition.

Key Board Member Resigns – George Christopoulos, who has great experience in the hospitality industry, has resigned from the QVM board. It is not unusual for Board members to move on but George will be missed by many after 8 years service.

Australia Day Debate – perhaps the significant thing here is that Management's decision to close on Australia Day has garnered little debate. As one trader said “My entrepreneurial compass tells me we should be trading on Australia Day, but given the state of business, I am looking forward to a day off.”

Have Your Say - click here.

Retail Roundup – Store Closures, Diana Ferrari, Ways To Beat Amazon...

Shrinking Store Networks – in an article this week, Smart Company asked the question “Will retail store networks shrink in 2018?” They examine the intent of store chain, Mountain Design, who say they will be closing one in three of their 39 retail stores this year.

In the US stores like Macy’s J.C.Penney, and Sears have announced store closures and even H&M have succumbed to store rationing as they search for the perfect profit mix. Some larger chains like Target are still opening stores but seriously questioning their footprint and looking to smaller, more cost effective store sizes.

How Did They Get This So Wrong? – certain H&M stores in South Africa have been trashed following the publishing of this photo in one of their online promotion campaigns. Condemnation around the globe has been swift. H&M seem genuinely remorseful that they got the ad so wrong and have promised remedial action.

Techniques For Competing – USA Today is reporting that there are signs of bricks’n’mortar stores improving their competitiveness against the likes of Amazon with some specific techniques that appear to have worked during the holiday season.

They refer to J.C.Penney’s collaboration with Sephora to provide in-store cosmetic services in 75% of their stores. Then there was Kohl’s decision to install Amazon stores in 10 of their own stores – if you can’t beat them. Target established more connections with top brand names. Target, Nordstrom, and Toys’R’Us provided kerbside pick-up so customers didn’t have to leave their cars. Macy’s targeted click and buy services online.

The Story Behind One Of Amazon’s Most Successful Products. We reported before Christmas that Amazons most popular products included a pressure cooker and the success of this product has become a subject of interest for all those looking to find new ways of retailing in this retail revolution. This article on Inc.com is worth a read - https://www.inc.com/bill-murphy-jr/heres-secret-strategy-that-keeps-instant-pot-at-top-of-amazon-2-words-facebook-cookbooks.html

Diana Ferrari To Close All Stores – Footwear, clothing, and accessories label, Dianne Ferrari, is to close all its own stores whilst maintaining an online presence and continuing to market its range of footwear through major department stores and specialist chains.

The Evolution Of Retailing – I love reading articles by academics because they usually include some logical backdrop to an argument and this one by Paul Drechsler, doctoral researcher, University of Western Australia is no exception. It tracks the evolution of retail from the industrial revolution to today’s information revolution. Unfortunately he doesn’t tell us how this one is going to end up. https://www.insideretail.com.au/blog/2018/01/11/amazon-drives-a-fifth-city-shaping-retail-revolution/

Have Your Say - click here.

Retail News One-liners - 14/1/2018

Retail News In Brief – 14/1/2018
1. Maggie T enters administration.
2. Sears plans another 103 store closures.
3. Diana Ferrari to close all physical stores.
4. Retail Food Group issues another profit warning.
5. Noni-B announced huge online sales growth over Christmas.
6. H&M apologises over “rascist garment”.
7. Target US performs better than expected in Christmas trade.
8. Chinese textile company takes lead in bids for Swedish luxury brand, Bally International.
9. Womens fashion retailer, Cue, launches three hour delivery service.
10. Uniqlo opens its first WA store.
11. ABS reports November retail sales up 2.8% (y.o.y) with highest online contribution ever (5.5%).
12. Michael Hill says sales growth modest but US operations continue decline.
13. Australian confectioner buys Violet Crumble brand from Nestle.

Have Your Say - click here.

Wee Here For A Discount – Bizarre But True

Promotional innovation is one thing but asking your customer to wee on your catalogue is surely one retailer going too far.

Ikea invites customers who might be pregnant (add discrimination against men to this complaint) to wee on a page of their catalogue to reveal a special offer. The page advertises baby cribs and according to a promotional video, if the customer is pregnant, a discounted price appears. The customer simply takes the catalogue into their nearest store.

Three things -

1.Not sure I want to be the shop assistant who serves that customer.

2. This must be a slow news day.

3. No- we don't want feedback on this article.

QVM In The News - 14/1/2018

NEWS
	Queen Victoria Market acting boss leaves for top job at Royal Agricultural Society Herald Sun Queen Victoria Board member George Christopoulos. Picture: Supplied Stan Liacos. Picture: Greg Scullin. Regional Development Victoria bureaucrat Stan Liacos will take over as market CEO on January 29. The market has had three board-appointed and three acting chief executives in the past five ...

NEWS
	A celebration of diversity Indian Link According to Nawal Moudgil, who helmed the project, “The festival was inspired by Victorian Government's initiative of spreading the significance of multiculturalism through creative and performing arts, as well as promoting the ... The event was held at the iconic Queen Victoria Market of Melbourne.

NEWS
	A visit to Melbourne is full of many tempting sweet and savoury delights Daily Telegraph You haven't been to a delicatessen until you've visited this 139-year-old landmark, which is the largest open-air market in the Southern Hemisphere. Vibrant display cases are crammed with mountains of olives, smoked hams, exotic cheese, stuffed capsicum, antipasto and a sea of dips. Start by grazing ...

What Every Trader Needs To Do In 2018

Market trader Boris Ismail Goldberg Lee (Dazza to his mates) used to say that any plan was better than no plan. He would ague that even in today's uncertain environment, every trader needs to find some strategy for the coming year.

Specialty Traders at QVM probably do their planning a little later than most. The general working population is already coping with post holiday blues as they return to work. On the other hand, most traders haven’t stopped working and hope to keep busy right through January. 

There are good reasons for remaining focused on business as holiday crowds flock to our market but the quiet times are coming and February can be one of our slowest months of the year. For many traders that is a good opportunity to take holidays or to plan and make the changes necessary to prepare their businesses for the coming year.

The important thing is that we do make plans and prepare a strategy. This year there is a high degree of uncertainty as renewal continues to influence our market. We can’t escape that. Change is a fact of life in retailing generally and particularly at QVM. The price for a better market that can take on the next 140 years with some confidence, is some short term disruption. We just have to factor that into our plans.

The good news is that change happening around us doesn’t set a barrier. It just means that we focus on things that we can control and ignore those we can’t. In fact some of those changes may even create opportunity.

For some traders there will be high level decisions to make. One trader said this week that his core range had served him very well but it was now 10 years since it was first introduced and times have changed. He will be spending the next few months trying to work out a new direction. How is your product offer looking and when did you last really examine its relevance?

Another trader observed that his range had been a great money spinner for many years but competition had saturated the retail market. Sheepskin boots are a good example of a product that used to have its core at QVM but is now available at many specialist outlets in the CBD. QVM is still the best place to buy sheepskin boots but the impact of competition is obvious.

There are many things we can do to improve our businesses. The search for new and exciting products is never ending. And when QVM is looking to improve its offer, the opportunity to innovate with range and presentation has never been better. This may be a good time to talk to QVM about what you want to do. And once again, don't expect that everything will be in black and white. We are in a period of change and change along with uncertainty have often been the fuel for great innovation. 

Most of us have plenty of work to do on websites and social media engagement as we adjust to the new ways our customers are doing their shopping.

Whether your task is examining a complete change of direction for your business or simply tweaking for improvement we wish you every success and happy planning.

Have your say - click here.

A Possible Tip For QVM Cafes

In-N-Out Burgers is a US fast food chain with a difference and when it introduced a new product to its restricted range, people took notice.

In-N-Out has over 300 stores in US southwest Pacific coast region and is often preferred to the major international conglomerates because it is still family owned and espouses family values.

The new product? - Hot Chocolate. But not any hot chocolate, it uses cocoa sourced from the famous Ghirardelli Chocolate Company. In-N-Out say hot chocolate was popular back in the 50’s and it was time it came back.

Maybe up-market tweaking of this beverage is worth a try in our coffee oriented city. And I’d be grating rich dark chocolate on the top rather than that powdery stuff you get with coffee.

Have Your Say – click here.

Heard Under The Sheds – 7/01/2018

A Booming Night Market – was the description used by a couple of participants when talking about this Wednesday’s Night Market. Was it the fact that we were closed last week that brought out more people? One trader described it as the best trading night of the season and questioned why we closed the previous week.

Night Market Cancellations – in view of the previous item, it seems strange to report that there were a number of stall cancellations on Wednesday night and even reluctance from those on the casual list to attend. Hardened day traders who would love to be part of the night action are scratching their heads.

Racking For Sale – a complete racking set is available for purchase or just parts if you would prefer (see photo). Contact Mino on 0425769075 for details.

Happy Birthday Graham - forklift driver, and all-round box placement guru, Graham, enjoyed a birthday on Friday. He must be almost 29 by now.  

Two Schools Of Thought On Australia Day - there have been discussions around whether we should trade on Australia Day which occurs on a Friday (26th January) this year. Some traders believe that Australia's National Day should be spent with family while others argue that it is a trading opportunity not to be missed with holiday crowds expected in the CBD. You might like to leave your view in Have Your Say.

Two Schools of Thought On 40C+ Saturday Trading - This is not about whether we should trade but how trade went last Saturday in 42C heat. Those who traded on the day are often accused of exaggerating the sales result while those who didn't attend will often refuse to accept that the day was worthwhile. Well we have sifted through the claims and it seems pretty clear that trading was worthwhile. Many were pleased with the result with some claiming a normal Saturday, and the usual observation that there wasn't a large crowd, but those customers who attended in the heat tended to be serious buyers.

Have Your Say - click here.

COMMENTS:
07/01/2018 23:09:56      Heat   "If you have decided to stay away  because of  heat embrace the day at home don’t agonise over what may or may not have been."
Thank you - good advice. - Ed.

08/01/2018 08:04:49      40c degree day       "It was quite a good day for those brave enough to tuff it out. Serious customers came early, very few spectators / onlookers and traders packed early before the extreme heat of the day kicked in.

Customers & traders did not realize it was a Victoria wide Total Fire Ban as the market still held the big Queen St. BBQ. Traders are a tuff breed. Whatever traders made they earned it the hard way."

Tuff indeed - Thanks for your input. - Ed

08/01/2018 09:50:18      Zenia  "Lovely photo of zenia glad to see that she is up and about." - 
She seemed to enjoy her day - Ed.

The Market Oracle Says

Boris Ismail Goldberg Lee (Dazza to his mates) always felt that market retailing was a simple function -buy low and sell high, listen to your customers, and encourage them to come back.

He would be mortified by the current over-analysis of what we do. The analysis is understandable because retailing is certainly changing and there are new elements with the obvious one being online competition.

But let’s look at the Dazza basics -

Buy low and sell high - obviously profit margin is very important not only to increase the bank account but to give you flexibility when handling your competition.

Listen to your customers - finding what sells, starts with your customers. What they ask for, how they respond to your current stock, and what they end up buying, are all indicators for future buying and merchandising. And these days, listening includes what your customers tell you online including some high-tech analysis of their viewing habits.

Encourage them to come back - this is easy - be respectful, be friendly, be available, and make it fun. Dazza remembers a famous retailer who said “make your customer a friend and you will succeed”

Good advice from the Oracle.

Have Your Say - click here.

What’s Happening In Retail This Week - 6/1/2018

One-liners:
1. Gerry Harvey is “realistically happy” with Boxing Day sales.
2. Zara unveils self service pick-up kiosk for online sales.
3. UK is to ban stores from charging Debit/Credit card fees.
4. UK’s Poundland seeks outside financing while parent company, Steinhoff, battles allegations of poor management.
5. Catch Group enjoys “record-breaking” Christmas following Pumpkin Patch acquisition.
6. National insolvency firm sees many more retailers succumbing to tough conditions.
7. Billabong board gives nod to Quicksilver takeover.
8. Australia Post says parcel boom continues post Christmas.
9. Macys say festive season sales positive.
10. Debenhams issue profit warning after poor Christmas sales.

Interesting Articles:
The latest trends in social media marketing - https://www.forbes.com/sites/ryanholmes/2018/01/02/2018s-biggest-social-media-trends-for-business/#272f8eb35623

Is This Where The Retail Future Lies?

A gloomy picture for retailing continues into 2018 as insolvency experts predict more problems for many stores particularly franchises. Economic pressures on consumers, and intense competition, particularly from online, are raising big hurdles for retailers. But if you are determined to be part of retailing there is one category that is comparatively protected.

Consumables, like food, and experiences, are considered safer bets than most categories of retailing. Consumers seem happy to spend $15-$20 on a café outing or a movie outing while pondering endlessly on clothing or gift purchases. And going out for a coffee is not something you can do online.

Is there room for more food oriented businesses at QVM? We bet plenty of traders are thinking of the possibilities.

Have Your Say – click here.

Compromising Market Recovery - What Would You Have Done?

Some pretty hard decisions are being made as the market and traders prepare for the future. How we make our market better while protecting individual trader interests can be a real dilemma. You may or may not agree with the way the following example was handled.

A trader (let’s call him AB) had decided to leave the market mainly due to poor trading conditions. He had paid a considerable amount for his stall and knew he wouldn’t get that investment back but he wanted to get some return and he had a buyer who was a current trader in the same category. We understand that the sale price was to cover stock purchase more than any goodwill.

Management and traders are very aware of the perception of repetition in our market and so when a trader decides to leave that is a good time to take appropriate action. Removing repetition is a long term goal that most traders see as a worthwhile correction to make our market better and more relevant. 

In this case, management decided to resist the sale to another trader in the same category. They stated that a sale needed to offer something new to the market and that could happen to an existing trader or somebody new but it could not be a product range that could add to repetition. The selling process stalled.

So that was the “best for the market” decision and then the “human factor” came in as a number of traders complained that our selling trader was being poorly treated and he should have an opportunity to recoup something from all his time and effort at QVM. Others argued that the harsh realities of retailing left little room for sentiment. 

In the end an approach was made to management to encourage a result that would give some return to the selling trader whilst protecting repetition. The final result was a compromise. The sale to the current trader in the same category went ahead.  The selling trader got some money and the existing trader was required to give some guarantees about how he would differentiate his offer.

Was that the right result - or just a compromise that once again jeopardised the future of our market? Did we miss a great opportunity to correct a known problem in our market? Should we try to protect  traders, or should we accept that some are going to suffer whilst we try to make our market better? Is there room for sentiment when the harsh outside world, particularly in retailing, ignores sentiment.

This is one of those issues that involved input from both management and traders. What would you have done? 

Have Your Say - click here.

COMMENTS:

08/01/2018 07:07:54      Compromise            "After reading countless articles about the renewal process  & traders being relocated ,reducing repetition or traders stall size being shrunk ,other stallholders walking away because potential sales have been turned down or stall holders having to face some sacrifices for the betterment of the Markets future .

Instead we read another example of a rudderless management and the tail wagging the dog."            Stavros D shed   
Thanks Stavros, but you haven't answered the question. What would you have done? - Ed     

08/01/2018 07:25:10      compromising market recovery            "On hearing of a traders stall being up for sale in the same category I trade in  my initial inquiries I was told that the potential buyer  could not already operate a similar business and not gain multiple stalls in the same category. Surprise surprise the rules changed . Had other traders been made (aware) of the about face the selling trader may have had multiple bidders and receive more money for his stalls ,you have infact done him a disservice . This has also set a dangerous precedent for all future sales and in any over repetitive product range."        Thank you for your response. I understand in this case there was only one bidder but the issue here is not getting more bidders rather how do we achieve the right result when faced with a conflict of repetition and selling a stall. What would you have done? - Ed 
   

08/01/2018 09:20:02      Compromising        "If this is a genuine case of repetition (not some outsider’s perception) then I would stick to protecting the market and refusing the stall transfer. We are not going to survive this retail future by compromising. Consumer opinion cannot be ignored here and our offer needs to be focused and excellent. 
In the case of the sale price, I am assuming we are talking a small amount of money. Anybody wishing to enter our market including those on the casual list, shouldn’t balk at an entry fee. If that entry/exit was governed by some formal structure then perhaps stall sales could progress without this fuss.  "
Thanks for your input - Ed.

08/01/2018 09:40:54      Market repetition "What I would have done as a suggestion the trader could have gone to other traders in the same category sold all his stock (may even come out ahead)? ,the market would have started reducing  the repetitiveness of some product lines and had an extra set of stalls to be used for trader relocations.

Every body wins.

Does that sound to easy or simple."     Stephen Mclennan
Sounds good Stephen. Thanks for your input - Ed.

10/01/2018 13:28:48      Compromising the Market          "It's Ironic to think that 2 of the 3 traders going to the C.O.M unhappy with how the market is running 5 years ago and wanted change are still unhappy how it's running now.

This Renewal process was always going to impact on many traders good or bad.

How did you think it was going to play out? or has the hardship we are facing just dawned on you now?

Management should manage and traders should mind their own business."
That is an interesting take. Change was always going to bring difficulties and happiness won't come until we are all once again in a profitable trading environment. You are correct, management should manage, but this is definitely trader's business, and the two need to find a common course, which is essentially why we have this article. Thanks for your input. - Ed.

The Latest Trend In Retailing Puts Many Traders In The Box Seat

Retailing is transforming its emphasis from product to experience. That doesn’t mean that products are no longer saleable, it’s just that they become part of an experience rather than the only thing. And a key ingredient of that experience is easier for market traders to implement than normal bricks’n’mortar retailers.

Telling a story has always been part of good salesmanship but the retail revolution has put story telling in the spotlight. It is the story you show your customers that sells things rather than just the things themselves.

Of course one story can become boring so successful retailers are changing their story and using clever merchandising to show their products in the best light and to generate sales.

Timberland’s Tree Lab concept is a great example. Tree Lab changes its display every 6-8 week’s. It only shows Timberland products but their range is broad enough to tell a new story every time.

Perhaps the extreme example is a store called Story, which tells a different story every 4-8 week’s and showcases products that fit that story. The story determines the products they sell, not the other way around. Rachel Schechtman, the founder of Story, describes her store as being like a magazine with a different offer every edition.

Now that may not be so easy for market traders who are licensed to sell particular products but if you are ever looking for an excuse to add new products to your stall this may be it. After all, who can criticise a trader for following the latest trends in retailing?

But let’s get to the point of this article. Changing your story requires great flexibility in merchandising and when you set-up and pack-up your stall every day, the conditions are perfect. Changing displays and telling a new story does require planning and forethought but market stalls are built around flexibility, and that makes the process easier than for most retailers. This is one advantage we should be taking advantage of.

And finally, there is another place where changing the story is easy, and that is online. Your website can change its emphasis with a few keystrokes and along with physical stall displays creates an exciting offer for your customers every time they visit.

Have Your Say - click here.

QVM In The News - 4/1/2018

WEB
	Play Me, I'm Yours at The Market Queen Victoria Market The worldwide phenomenon, Play Me, I'm Yours is coming to The Market! Presented by Arts Centre Melbourne, free to play pianos will be popping up in locations across the city – including Queen Vic Market. Touring internationally since 2007, this artwork by British artist Luke Jerram has reached ...

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	Review of Queen Victoria Market, Melbourne, Australia TripAdvisor Queen Victoria Market: You just have to - See 6117 traveler reviews, 2969 candid photos, and great deals for Melbourne, Australia, at TripAdvisor.

Heat Policy For Older Market Traders

Victoria's Chief Medical Officer has issued a health warning for extreme heat conditions expected in parts of Victoria on Saturday.

Traders are reminded that a policy exists to protect older traders from extreme heat conditions at the Queen Vic Market.

Traders 65 and over are exempted from being required to attend the market on days where the temperature is forecast to be 36C or over.

Temperatures of or above 36C will be defined by the weather forecast delivered on the 6pm news and weather or radio program as the predicted weather for the Melbourne area.

Traders are still required to notify the office of their intended absence through the normal channels and no later than 7am on the day of the absence.

Traders seeking further clarification are advised to contact a Market Officer or their Precinct Manager.

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