The recently released QVM Business Plan is a comprehensive document and we will be looking at it more closely over coming weeks but here are 5 elements that caught our attention.
1. A New Focus For QVM Management – the following quote from the CEO’s preamble identifies a new focus. “Another theme is to assist traders to consider how they might evolve their product offering and presentation to keep pace with the city wide dynamic retail business environment within which they now operate. The realities of the competitive environment cannot be ignored by traders or management. This is a new role for the management of QVM, which has historically kept to the narrower focus of landlord. In this context the organisation is also going through a significant cultural change process.”
2. The 10 Keys According To David O’Neil – The Business Plan draws on global market expert, David O’Neil’s, advice on how to make our market great. O’Neil’s expertise is well respected. The catch cry “We are not a shopping centre” is clearly addressed by his focus on what makes markets so different and so special.
3. Expensive Advertising Is Not The Answer – some traders believe that we just need to throw more money at marketing, particularly advertising, but the Business Plan warns against overspending on expensive advertising.
4. The Elephant In The Room – Reviewing Licenses And Compliance Provisions – we are not yet sure what this might involve although the plan does include a review of the “points system” for stall allocations. QVMAC Representative, Jenny Pyke, asked for elaboration at the mass meeting of Specialty Traders (General Merchandise) a couple of weeks ago but as yet we have no detail. We shouldn't assume that there won't be areas of agreement here, but without transparency that is difficult to confirm.
5. Sustainability – this is a key focus of the Business Plan and it is important to note that we are not just talking about environmental sustainability but also economic sustainability which encompasses financial success for traders. All traders will welcome that sentiment.
There is a lot of positive content in the Business Plan and traders are urged to take a read at the following link - https://drive.google.com/file/d/0B5V7bjdgY0cfRHBDMUxHWnNXYm8/edit?usp=sharing
Have Your Say – click here.