Sunday 15 April 2012

Interesting Customer Figures But They Are Wrong

The April Trader’s Bulletin includes statistics on customer sources for the Queen Victoria Market and they make interesting reading, but there is evidence that they don’t give the full picture for General Merchandise Traders.
Let us say first up that having direct access to this sort of information is great. QVM management are to be congratulated for making it available to traders. The results are similar to those of previous surveys that suggested 70% of market visitors were locals. Trader’s representatives knew intuitively that the 70% figure was wrong for General Merchandise Traders so we held our own survey in the top end of the market. For the first time we are revealing those results below –

OVERALL             -              INTERSTATE       57%
                                               INTRASTATE      16%
                                               METRO                                26%

                                               INTERSTATE       62%
                                               INTRASTATE      20%
                                               METRO                18%  (17% weekends)

                                               INTERSTATE       68%
                                               INTRASTATE      10%
                                               METRO                22%  (30% weekends)

                                               INTERSTATE       55%
                                               INTRASTATE      9%
                                               METRO                36%  (34% weekends)

                                               INTERSTATE       47%
                                               INTRASTATE      17%
                                               METRO                35%  (35% weekends)

                                               INTERSTATE       50%
                                               INTRASTATE      14%
                                               METRO                36%  (43% weekends)

                                               INTERSTATE       63%
                                               INTRASTATE      22%
                                               METRO                15%  (22% weekends)

Now, let us say up front that our survey was not conducted by a professional research company like the QVM one. We only surveyed through 20 top end traders, and we only surveyed over one week. However, we did survey actual customers (those that purchased goods), not just visitors wandering public areas. We believe that our results indicate further work needs to be done to determine exactly where top end customers come from and where the QVM marketing budget should be spent.

15/04/2012 23:08:24 No surprises here, I don't know how it's possible that professional researchers could have concluded that 70% of QVM customers were locals in the first place :-)
16/04/2012 16:51:00 They talk about target customers (visitors) - we talk about actual customers. Part of their survey included interviewing residents who don't visit the market (?). We only counted customers who paid hard money for goods. That is the difference.
17/04/2012 16:36:50 Traders basic interest lies in sales, Management and Council have other primary interests. The survey questions and stats are prepared with that in mind and often skewed to deliver the desired result. For instance the Sweeney Trader Survey result supposedly show that  "As a venue for business, overall satisfaction with the Market is high..." Who are they kidding?
18/04/2012 09:09:32 I'd say that these research companies come in during the week when the place is full of school kids, who in my opinion 90% of the time don't count as customers, but more so a way of keeping us alert and aware and sometime frustrated