BBQ Pics

Friday's early morning BBQ cook by members of QVM management got the thumbs up from traders particularly those who had food delivered to their stalls. The sausages ran out about 7:30 so, if you missed out you might need to put a note in your diary for next year. Here are some photos.

Peter (sorry, Santa) drummed up
 business around the market.

Spiros cooks up a storm.

Every BBQ needs a supervisor or three.

Traders were grateful for the personal delivery from friendly office staff.

Traders queue for a sausage.

Have Your Say - click here.

The Price Of Protest

It is fair to say that the media clout of the anti-renewal group far outweighs its relevance to the majority of traders but there is a cost associated with their “celebrity” push and unfortunately the public is now confused.

One of our traders complained this morning that he has had multiple questions from customers this weekend about how long the market is going to be closed during the renewal. One aspect of the anti-renewal group’s dialogue is their exaggeration and so terminology like “They are going to cause massive disruption and destroy our market” weigh heavily on the public psyche. No matter how you look at it, the negative language has portrayed the market in a negative way and that is difficult to correct (Note to management: at the right time a strong “We are trading” message would be great.)

Of course many called Saturday’s protest "a fizzer" with a crowd of about 300-400 (see our photo) at 11:30 gradually dwindling as passers-by realised that this wasn’t entertainment but just a political protest. The sad thing is that good money will now have to be spent to correct misinformation although traders can probably help by informing their customers that trade will be ongoing through renewal.

Have Your Say – click here.

Decision Time For Many Traders

When your business is struggling and the consequences are dire, when an industry that you have put your life into appears to be in a downward spiral, when all the trading tricks you have crafted over the years don’t seem to be working, when you are facing some very serious decisions about your future, it is not easy to be logical. But, clearly, logical thinking has never been more important for QVM market traders than right now.

And maybe one of our more experienced traders had a word of wisdom for every trader - “Forget the past - we are starting all over again.”

What do we know? Global retail trade has been given a massive shake-up and traditional forms are in decline. There are positive courses of action that we can take -

1.     Offer exciting retail experiences.

2.     Enhance customer convenience in the way we communicate, and deliver.

3.     Engage through different channels (websites and social media). 

4.     Raise the bar on all aspects of our business.

And there are protective things we can do –

1.     Control and eliminate costs, (pull in the belt).

2.     Measure what we do, and

3.     Be really smart about our profitability.

There are of course other more drastic options -

1.     Change product category.

2.     Expand business footprint by adding outlets to take advantage of economies of scale.

3.     Downsize stall.

4.     Upsize Stall.

5.     Reduce number of trading days.

6.     Increase the number of trading days.

7.     Add trading opportunities perhaps through the night market or other markets.

8.     Supplement income from other sources.

9.     Get out of the retail industry.

On the one hand, these are decisions only we traders can make. We are independent entrepreneurs and the buck stops with us. On the other hand there are many reassessment discussions happening at QVM right now involving management and traders wanting to evaluate their options.

At these important decision making times we rely on our business network, including our families for advice. Fellow traders can be helpful although we need to avoid those who just want to blame others for our dilemma. The sooner we as individuals start on a course of action the greater our chance of success.

Of course we cannot underestimate the complexity of this process. Traders want clear guidelines around things like repetition and quality of offer, and they are important, but the impact of change on individuals is not to be ignored. Management need to set clear guidelines and individual traders may need to compromise. Oh, and we need flexibility to accommodate individual cases. If you say it quickly it sounds easy, but the reality is more complex. A lot of understanding is needed here.

And finally, let’s talk about flexibility. Flexibility is a key advantage for Market Traders. The ability to twist, turn, react, and go in a different direction, is seen as a key ingredient for all modern businesses. As we recently quoted on Victraders “Don’t worry about failure; you only have to be right once.”

Be logical, be understanding, be flexible, and good luck.
Have Your Say - click here.

COMMENTS:

18/12/2017 12:26:18      Decision time           "Greg

All well to write smaller/bigger stalls ,5days 3 days

Stock higher / cheaper . Who do u talk to for as per your (. Oh, and we need flexibility to accommodate individual cases. If you say it quickly it sounds easy, but the reality is more complex. A lot of understanding is needed here.)stock and time does not come free and with management changes ang management changing their mind every week

HOW ???????"       JR      
Hi JR. I think you are saying that with all the changes (in processes and personnel) it is very difficult to progress. I agree. But we have to start somewhere. If you have an idea of what you want to do, and you talk to your Precinct Manager (Russell Wheelhouse) about the options open to you, then the complex process starts. Just don't expect everything to be in black and white. The waters are going to be muddy for some time. - Ed.

The Pain of Packing and Un-packing

During an interview with one of our fresh food traders a few years ago I asked how he handled the 3:00am starts and 15 hour working days. He said that the money he made was more than adequate compensation. That equation just doesn’t work when times are tough as many Specialty traders are finding out.

Setting up and tearing down you display is a daily chore for most traders in the Upper Market. Four hours of your working day can involve simply packing and un-packing stock and display equipment. Many traders employ staff just for that purpose but when you pack-up staff make more profit than you on some days (a real occurence for some traders) then you seriously question the equation.

One trader made the observation that removing packing and un-packing would give them up to an extra 15 hours per week for dedicating to more productive work like alternative income sources.

PODS like the test facility in C Shed have provided a tantalising glimpse into what more permanent structures could offer, but any progress on modular permanent stalls seems to have, well, stalled.

QuadPods (a modular stall arrangement similar to what is found in the Night Market) offered a simpler, less time-consuming stall arrangement, and was well received by traders, but once again we have seen no action. We understand that management has some reservations about introducing disruptive new arrangements with renewal around the corner. It is a matter of timing.

QVM is a great open-air market, with some wonderful traditional practices, but the only thing that really guarantees everybody’s future is profitable trading for traders. Minimising un-productive labour (un-packing and packing) will rightly become a focus for some traders as they adjust to the current trading climate and the imposition of renewal. Either they reduce the complexity of their display, seek a more permanent trading facility or pull the plug. Let’s hope it is not the last option.

Have Your Say – click here.

Best Christmas Videos For 2017

Some retailers go to extraordinary lengths to capture the Christmas spirit including the example shown above. Here are a few more for 2017.

John Lewis - "Moz The Monster" - the official John Lewis video for 2017 -https://www.youtube.com/watch?v=Jw1Y-zhQURU 

John Lewis - "The Fox And The Mouse" - not the official John Lewis Christmas Video for 2017 but some say it should have been. - https://www.youtube.com/watch?v=Dd_0BIuZgHg

M&S - "Paddington & The Christmas Visitor" - https://youtu.be/Dt5fwT-0jE8

Aldi - "Kevin The Carrot" the usual quirkiness in their 2017 Christmas commercial - https://www.youtube.com/watch?v=UJQG2lqm5ek

Air New Zealand - a very funny take on NZ accents - https://youtu.be/2mDoqrhiem0

And finally Amazon's take on Christmas - https://youtu.be/H9SCZwh8Tvg

Have Your Say - click here.

Is Your Photo In This New Market Book?

Photographer Tim Webster has been photographing our market for years and he has captured some amazing shots. Up until now his work has only been available in a handmade book format which was rather expensive. A copy was purchased as a special gift from traders for international market expert, David O'Neil, a few years back.

Well Tim now has a publisher and his book can be purchased online. It contains not only photographs but a social history of QVM in words including some memorable quotes from traders. The book costs $55 plus $8 delivery although if you contact Tim online he may be able to arrange delivery to the market for free.

Go to www.qvmarketbook.com to place an order.

Heard Under The Sheds – 10/12/2017

The new QVM website is up and running and already the improvement in navigating the site has been noticed. It is worth checking your entry and here is a little tip – if a search term doesn’t show up it means that no trader has used that term in his stall description on the website. Make sure all the appropriate search terms are in your own description so that customers see you when they search.

ATMs moved from C Shed – the ATM pod (3 machines) on the corner of C Shed and the top walkway has been moved to the top end of String Bean Alley. One trader claims that the aisles between A Shed and F Shed in the Upper Market now have only one ATM to service customer needs, while String Bean Alley has 4 ATMs and another 4 down on Queen St. Traders have commented that this certainly seems a strange distribution and a disadvantage for our traders struggling on the other side of F Shed. Presumably there is a good reason but it has led one trader to suggest that the panel that decides these things should include a trader who can say “Hang on – that might have problems.”

Business in the Upper Market has been very patchy although Thursday provided a bright spot. Perhaps the Paul McCartney concert the night before was the reason there were so many visitors in town.

Marianne Mewett’s presentation on Monday has attracted interest from traders. Our Marketing Manager will talk about how traders can get their businesses on to social media at the Engagement Hub on Monday 11^th December from 11:00am until about 1:00pm. Helping your business to adopt new ways of communicating with customers is a great way to improve the bottom line and Marianne will have ways for even the most non-tech traders to participate.  One trader has applauded the scheduling of this type of meeting on a non-trading day.
Note: The link to register for this workshop is broken, so just turn up.

Early Packers – a few traders have commented that early packing is becoming a trend for some traders. It can become incredibly frustrating for traders on quiet days but that is not a problem we should be inflicting on those customers who do turn up. As one trader said “Every customer has a right to the full market offer up until official closing time.”

New Market Book – if you get a chance check out some of the photos of traders taken over the years by Tim Webster and now published in his book Melbourne’s Queen Victoria Market.

Online Business – one of our traders stayed away on Friday because he had just too much online business to attend to. Another is struggling to keep up with wholesale demands. It certainly pays to diversify these days.

Whisper is that the Blue ATM container at the top of String Bean Alley has been vacated to allow conversion to a trading space and the box hire storage on the other side of the aisle is also being eyed-off for trading.

Have Your Say – click here.

QVM In The News - 10/12/2017

NEWS
	Archaeological findings at QVM CDB News Archaeological digging at Queen Victoria Market's heritage sheds has revealed artefacts from 19th-century Melbourne. Investigations are underway to explore the archaeological components of Sheds A, B and C and excavations of six test trench sites have so far recovered the foundations of the rifle ...

NEWS
	The other side of the counter CDB News In a ringing endorsement of the future of the Queen Victoria Market, former CEO Malcolm McCullough and market manager Mark Scott have bought in. The pair left the management of the market mid-year, but have re-emerged as joint owners of Bill's Farm in the deli hall. The pair said that, after leaving ...

What's Happening In Retail This Week - 10/12/2017

Pizza Chain Breaks Ties With Uber-EATS – Smartcompany has reported that pizza chain, Pizza Religion, has broken its ties with UberEATS over delivery complaints and rising costs. Pizza Religion used to do their own deliveries but outsourced to UberEATS. They have found that delivery complaints are difficult to handle when they are not the deliverer, and the initial UberEATS delivery fee of 22% of the bill was upped to 30% with a new claim for 35%.

Amazon Launches But Key Feature Still On Hold – Amazon have officially launched in Australia but their ace card, free delivery, is on hold until Prime membership becomes a reality in 2018.

UK Food Delivery Company Has Big Launch – Just Eat, a UK food delivery company has just launched on the London Stock Exchange and with a Pound Stg 5.5billion valuation, is worth more than long time retail icon, Marks & Spencer.

Melbourne Central Introduces Home Delivery Service – In an interesting move, GPT, the landlords of Melbourne Central, have launched a home delivery service within 20km of the centre with a flat fee of $10.95 for up to 10km, and free delivery for purchases over $50.

One-liners:

1. Amazon officially up and running in Australia.

2. French sports giant, Decathlon, opens in Sydney.

3. Nike launches first sports hijab.

4. Metcash profit increase sends shares up.

5. Latest ABS figures indicate slow start to Christmas.

6. Analysts “underwhelmed” by Amazon launch in Australia.

7. City of Melbourne launches Shop The City to boost CBD retail sales.

8. Aldi continues expansion in SA with 25th store.

9. Failed kids retailer, Pumpkin Patch, relaunched online by Catch Group.

10. Activewear retailer, Lululemon shows 14% sales expansion in third quarter.

Definitions Of Specialty Merchandise

As part of our campaign to ditch the term "General Merchandise" we decided to look up the meaning of one the proposed alternatives - "Specialty Merchandise" or "Specialty Shopping."

From Business Dictionary

Definition of Specialty Store

“A small retail outlet that focuses on selling a particular product range and associated items. Most specialty store business operators will maintain considerable depth in the type of product that they specialize in selling, usually at premium prices, in addition to providing higher service quality and expert guidance to shoppers.”

 The Free Dictionary

Noun

1

Specialty Store - a store that sells only one kind of merchandise

 Merriam Webster Dictionary

Definition of specialty shop: a shop that sells one type of thing.

study.com - Educational Website.

“Specialty stores are retail businesses that focus on specific product categories, such as office supplies, men's or women's clothing, or carpet. It isn't the product they sell that determines if a company is a specialty store, but rather the breadth of their product offering. If a company could be considered an expert in a certain type of good, it is a specialty store.”

So what categories would fit these definitions at QVM? – socks, T-shirts, Australian souvenirs, silver jewellery, leather jackets, phone covers, ladies fashion, sports shoes, coats, sunglasses, gift and occasion cards, outdoor wear, luggage, fabric, leather belts, and so on.

We think there is a good case for describing the Upper market as “Specialty Merchandise”, “Specialty Shopping” or “Specialty Precinct” and the traders as “Specialty Merchandise Traders”, or just “Specialty Traders”. See previous posts below for lots of trader comment on this subject.

Have Your Say – click here.

COMMENTS:
10/12/2017 16:26:26      Specialty merchandise      "Using the term specialty merchandise excludes traders who are service based.  Specialty traders or specialty shopping would be more appropriate."
Good Point - Thank you. - Ed

New Trader In F Shed And A New Idea

We came across George Halkidis and his printing and embroidery service in F Shed this week (corner of top walkway) and immediately his offer stimulated an idea from one of our traders.

This trader particularly liked George’s rendition of a Queen Victoria Market T-shirt and wondered whether all traders couldn’t wear such a T-shirt to show unity and teamwork. Proudly announcing to our customers that we are QVM believers makes a lot of sense.

And let’s avoid the politics here. This is not about any sort of anti movement, just a way of saying that we are proud of this place and want customers to share our pride and move forward with us.

Maybe something like this would be appropriate for stallholders to wear -

 We won’t unnecessarily reveal our Trader but let’s just say he was a member of the winning team in the recent golf competition and probably knows a thing or two about teamwork.

Have Your Say - click here.

Articles Worth Reading - 10/12/2017

Some interesting articles to come across our desk this week.

Future Shopping Malls Will Be Experience Buffets -
https://www.psfk.com/2017/12/food-courts-passe-future-shopping-mall-will-experience-buffet.html

How To Make Extra Money - Entrepreneur.com gives advice on how struggling entrepreneurs (like many QVM Traders) can make extra money - 
https://www.entrepreneur.com/article/305601

The Changes Ikea Makes Are A Lesson For All Retailers -
https://www.inc.com/alison-davis/what-you-can-learn-from-ikea-about-changing-customer-preferences.html

The 70-20-10 Rule of Innovation

There has probably never been a time when innovation has been thrust so forcibly on Queen Victoria Market Traders as right now. A retail revolution, a market renewal, and changing economic conditions, all combine to challenge the way we operate. So where do we look, what do we do, how far do we innovate? This 70-20-10 rule may be a useful guide.

An article in Inc. magazine recently referred to the 70-20-10 rule in relation to large organisations like Google and IBM and we reckon it makes sense for market traders.

70% Sustaining Innovation - improving what you currently have, working on your core strengths and making them better. Standing still is never a good thing, and as a retailer you remain relevant by tweaking, improving, and remaining in touch with (or exceeding) your customer expectations.

20% Exploring - this is looking for the associated products and services that may lead you into the future. A business my family used to be involved made grease guns for cars. That was back in the day when every vehicle had multiple greasing points to keep all the moving parts lubricated. As lubricants improved and bearings were sealed for life, they had to move into new areas like fuel pumps and associated automotive products to remain relevant.

10% for the Big Changes. Drastic innovation is full of risk but even the biggest companies in the world have been forced to make the big step into something new, sometimes something completely different. A mobile phone company I was following on the ASX recently announced it was moving into surgical treatments and equipment, a completely different field, but one which they saw with growth potential. Time will tell whether that move works for them.

So innovation means you don’t stand still. And obviously you don’t neglect your core business by just chasing the next big thing. Like many things in life it is smart to establish a balance and when it comes to innovation, 70-20-10 seems to make a lot of sense.

Have Your Say - click here.

More On Ditching General Merchandise

The term “General Merchandise” has been criticised as a inappropriate for describing top end trading activity because it smacks of old world retailing and is just plain boring.

The QVM Marketing Team recognised this some time ago and official notification of trading hours on the QVM website uses the term “Specialty Shopping” to differentiate from food.

Traders in the upper market essentially specialise in particular ranges, categories, or concepts, so “Specialty Shopping” or “Specialty Merchandise” seems a much more appropriate term than “General Merchandise”.

Although when you go deeper into the QVM website you find entries like this –

Other official documentation, particularly from City of Melbourne and more recently from the renewal team regularly refers to General Merchandise Sheds and General Merchandise Traders. 

People make assumptions about names and it is likely that the old term “General Merchandise” doesn’t conjure up many positive thoughts. We think it is time all that terminology changed to something like “Specialty”.

Have Your Say – click here. 

COMMENTS:
05/12/2017 15:54:07      Upper market         "Without doubt should be specialty merchandise don’t know why we are having this debate it should have been changed long ago most upper end businesses are Special."
Thank you for your contribution - Ed.

06/12/2017 08:05:51      General Merchandise       "No offence everyone, but you need to deliver on promises. So be careful what you over sell. Specialty / exciting??? Pleeease! How bout 'same-same' or 'not much to look at here'. Sorry, but lets get real. Lets lift our game first (yeah Im talking to you) and then maybe launch new branding (that's what a name is by the way)"
Great Point! - naming is one thing - delivering a better offer is something else. But this is not about misrepresenting (ok, "exciting" isn't always appropriate). This is about more accurately describing what traders do in the Upper Market. Let's make the point again - upper market traders specialise in particular categories, ranges or concepts. The fact that they specialise usually results in expertise that goes way beyond what you find in department stores. I don't sell a general range of goods, I specialise in one category. It is more appropriate (and better marketing) to say that the upper market is populated by Specialty Retailers rather than it sells a general range of goods. Making things better, lifting our game, removing repetition, and meeting consumer needs, are all issues that are receiving our attention, but lets get the name right. - Ed

From Facebook 6/12/2017
Drita Mclennan  - "I am a little tired of this same same bs...Don’t complain about “same same”, when you can walk into any of the major shopping centres and see multiple jewellery, nail, hairdresser etc, etc ... in a shopping centre we are told its competition... at QVM we are told its repetitive. Until we change our overall view and language of how we describe ourselves nothing changes. Stop trying to talk our wonderful Market down."
Thanks Drita - Ed.

06/12/2017 09:57:42      Specialty       "The term 'Specialist Traders' might have some merit, as indeed many traders do 'specialise' or know a fair bit about a particular product. But 'specialty merchandise' suggests more about the products and range on offer in general, and that I would argue is another matter altogether.

So whilst I could agree on Specialist Traders as an interesting and appropriate term, I would say that Specialty Merchandise would be a misnomer given the current state of things. How about we get to appropriate that description when we actually have nailed something special and not same same. When our point of difference is clear and irresistible to customers." 
Thank you. You are quite correct - Specialist Traders and Specialty Merchandise are two different things. But I still think we are confusing the term Specialty with being special. This is not about how special the offer is but how we describe what is on offer beyond very boring and old world terminology. We need something better than General Merchandise. Maybe the generic "Retail Sector" is the way to go. - Ed

06/12/2017 10:07:33      Upper market         "I think the point to be made is that we need to remove repetition the same stall holders having multiple stalls. There are innovative stalls at the top end please keep it that way."  
Thanks for your input - Ed.

09/12/2017 18:15:23      General/Specialty Merchandise "The biggest mistake you can make is to overpromise and under deliver.  Although we have a small handful of specialty traders, a majority of traders are not.

A market full of unique hard to find items would attract people in - many years back general merchandise did have better product curation and there were more visitors and customers to the aisle.

While our small handful of traders do have a nice offer, it gets lost in amongst counterfeit toys, sports jerseys etc.  No one would walk through a shopping centre that has $2 shops making up 75% of the retail space, it is no different in the market.

When we changed the QVM logo we did so without making improvements to the market - it has in fact gone backwards since then.  There is little point changing the term general merchandise until after we make wholesale improvements.  We also are in dire need of traders to take pride in presentation - clean displays, proper fittings, clear & computerised or digital signage.

Until a higher standard is met I don’t feel we serve as a specialty precinct."

Thank you for such a considered response. The input on this subject has been great. Your thoughts about the standards of presentation in our market would be echoed by many traders. However we have what we have. Much work will be done over coming months and years to assist traders to adapt to a rapidly changing environment. That is a major task and in the meantime there is a little thing about terminology that might assist our transition. I disagree with you on one point - I think the majority of our traders in the Upper Market are Specialty Traders. There is always room for improving presentation but that is a different matter all together. Rather than wait for improvements let's correct an anomaly right now and get rid of an outdated description. - Ed


10/12/2017 16:26:26      Specialty merchandise      "Using the term specialty merchandise excludes traders who are service based.  Specialty traders or specialty shopping would be more appropriate."
Good Point - Thank you. - Ed

Heard Under The Sheds – 3/12/2017

Bad Weather 1. – there was some confusion amongst traders wondering why they received official warning SMS’s from management. The short answer is that modern technology now allows more immediate communication just like the State Governments SMS warnings to residents. And it is a fair point that experienced traders may know how to react during extreme weather events, but new traders and new staff should be fully informed.

Bad Weather 2. – some things don’t change and trying to predict how business is going to run in extreme conditions is difficult. Although there were many gaps in the trader aisles on Friday and Saturday, there were a few traders who did ok business. One said that those who attended in the extreme weather were obviously serious shoppers with less time-wasters. For the majority of traders however, results were poor and the absence of Christmas buying is clearly evident.

Bad Weather 3. - one trader could not remember the last time he took a day off because of weather but he decided to abide by the official warnings. He spent a miserable day wondering what might have been and has vowed he will never stay away again. (At least until he turns 65 and the Heat Policy kicks in.)

Day Market Versus Night Market – a trader has reported that the large digital sign in the car park facing Peel St. shows 4 seconds of Day Market promotion and 16 seconds of Night Market promotion. Two questions need to be asked here - is this another example that the day market is the poor cousin to the night market when it comes to marketing expenditure, and does this trader need to find a hobby? 

Fisticuffs Is A Bad Sign – amongst all the sophisticated measures of market performance we shouldn’t under-estimate the importance of fist fights as a measure of extreme tension and unusually bad business. Fortunately fights between traders are rare but the event between two traders down on Queen St. on Saturday morning was a bad look and a lesson for all that we need to value our relationships within the trader community particularly when times are tough.

It’s All In The Words – one of our traders suggests that we should simplify our trading hours advice to “The Day Market only closes Mondays and Wednesdays”. Simplifying is good and rather than a long winded explanation of individual trading times a catch phrase like that is easily remembered.

Iconic Departure – forget all the news about the multi’s like Oroton going under. What about Annette who operated Depilit for so many years in J Shed leaving our market? Sad, but true. We will miss your bubbling personality and entrepreneurial flair  Annette.

Box Hire Shake-up – we understand that one of our 5 box hire operators has been refused a license renewal. The reason is not clear although perhaps 5 operators are simply too many to support. We can expect some shuffling within the box hire business but hopefully no increase in hire rates.

Have Your Say – click here.